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What Is SBI Multi-Option Deposit? Interest Rates, Loan Facility And Other Details
You can withdraw from SBI MODS account in multiples of 1,000 Balance amount will earn FD interest rates applicable on initial deposit Minimum tenor is 1 year and maximum is 5 years
26 Apr 2018, 08:32 AM IST 
TDS is also applicable on State Bank of India's (SBI) multi option deposit scheme.
State Bank of India on Wednesday said that the SBI app is now updated with new feature of opening an MOD (Multi Option Deposit) account. The country's largest lender informed about the development on Twitter. According to sbi.co.in, multi option deposit scheme (MODS) are term or fixed deposits linked to the savings or current account of an individual. Unlike normal term deposits which are fully liquidated anytime you need funds, you can withdraw from an MODS account in multiples of 1,000 according to your need of funds. The balance amount in your MODS account will continue to earn the term or fixed deposit interest rates applicable at the time of initial deposit.
Here's all you need to know to open a SBI multi option deposit scheme:
