SBI Multi-Option Deposit Scheme (MODS)

How Does the SBI Multi-Option Deposit Scheme Work?

Once your savings balance crosses the set limit, the extra amount is automatically moved into a term deposit (MODS) through the sweep-in facility. If you later need money and your savings balance falls short, the required amount is pulled back from the term deposit through the reverse sweep facility. 

Only the withdrawn (or reverse-swept) amount stops earning interest. The rest continues earning interest as originally fixed until maturity. This feature makes it an attractive option for those who may need access to their funds before the maturity date.

• Minimum Threshold for Auto Sweep: Once your savings balance crosses ₹50,000, the surplus above this limit is automatically moved into a term deposit from the sweep-in facility. There is no maximum limit for the auto-sweep threshold.
• Minimum Balance: After the Auto Sweep, at least ₹35,000 is always kept back in your savings account.
• Minimum Withdrawal (Reverse Sweep): Money is swept back into your savings account in multiples of ₹5,000. If the FD balance drops to ₹15,000, the entire remaining deposit amount is swept back (sweep-out) automatically.
• Choice of Withdrawal Order: By default, the most recent deposit is withdrawn first (last in, first out, or LIFO), but you can choose to withdraw the oldest deposit first (first in, first out, or FIFO) instead.
• Linked Accounts: MODS must be linked to a savings account or current account.

SBI Multi-Option Deposit Interest Rates 

The SBI FD Interest Rates are competitive and vary based on the tenure of the deposit. As of December 15, 2025, the rates are as follows:

SBI Multi-Option Deposit Interest Rates w.e.f December 15, 2025. These rates are subject to change based on market conditions and bank policies.

Eligibility Criteria for SBI Multi Option Details

The eligibility criteria for opening an SBI MOD account are inclusive and cater to a wide range of individuals and entities:

• Resident Individuals (single or jointly)
• Minors (under guardian's name)
• Hindu Undivided Families (HUF)
• Firms and companies.
• Government Departments

Features of the SBI Multi-Option Deposit (MODS) Scheme

The SBI MOD scheme comes with several beneficial features:

• Combination of Accounts: The MOD scheme combines term deposits or special term deposits with linked SBI savings account or current accounts, providing seamless access to funds.
• Complete Liquidity: Depositors can withdraw funds in multiples of ₹5,000 at any time using cheques, ATMs, or Internet Banking, ensuring high liquidity.
• Minimum Deposit: A minimum initial deposit of ₹10,000 is required, with subsequent deposits in multiples of ₹1,000.
• Flexible Tenure: Deposit tenures range from 1 to 5 years. 
• Stand-Alone MODs: Customers can still open individual Stand-Alone MODs or e-MODs with a minimum deposit of ₹10,000, regardless of the threshold limits for auto sweep.
• Additional Interest for Seniors: Additional SBI Senior citizens FD interest rates are applicable that enhance their earning potential.
• Nomination Facility: Depositors can nominate beneficiaries for their accounts.
• Loan Against FD: Customers can avail an SBI loan against FD.

How to Apply for the SBI MOD Scheme?

The SBI Multi-Option Deposit account can be easily opened online or offline by following these easy steps: 

Online Application Process:

Step 1: Visit the official SBI website or use the SBI mobile app.

Step 2: Navigate to the Fixed Deposit section.

Step 3: Select "e-TDR/e-STDR" under the MOD menu.

Step 4: Fill in your details, including your debit account number and tenure.

Step 5: Submit your application and confirm your request.

Offline Application Process:

Step 1: Visit your nearest SBI branch.

Step 2: Request an application form for the MOD scheme.

Step 3: Fill out the form with the required details and submit it along with the necessary documents.

Conclusion

SBI Multi-Option Deposit Scheme (MODS) lets you earn higher interest on your savings without losing access to your money. Surplus funds above ₹50,000 are automatically moved into a term deposit, and whenever you need cash, funds are transferred back to your savings account in units of ₹5,000. With competitive SBI FD interest rates and no upper deposit limit, MODS works well for both short-term liquidity and long-term savings.