Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Account structureSavings bank account linked to Multi Option Deposit Scheme (MODS) term deposits
Source 1Monthly average balanceNil
Source 2Maximum balanceNo limit
Source 3Savings-balance interest rate2.50% p.a. across all account balancesEffective 15 Jun 2025
Source 4Auto-sweep threshold₹50,000; a completed sweep leaves at least ₹35,000 in savings
Source 5Minimum sweep deposit₹15,000, then in multiples of ₹5,000
Source 6MOD deposit tenure1 to 5 years
Source 7Current standard MOD tenure ratesGeneral-public retail card rates below ₹3 crore: 1 to under 2 years 6.25% p.a.; 2 to under 3 years 6.40%; 3 to under 5 years 6.30%; 5 years 6.05%Effective 15 Dec 2025
Source 8Reverse-sweep unit₹5,000 and multiples; when a TDR/
Source 9Deposit-break orderCustomer may choose FIFO or LIFO; LIFO applies if no mandate is given
Source 10Cheque leaves10 free leaves per year; later leaves are charged
Source 11Eligibility and operationIndividuals with valid KYC documents; single, joint and listed survivor modes are permitted
Source 12Channels and MOD loanATM card, State Bank Anywhere, mobile banking, internet banking, SMS alerts and account transfer through internet banking; loan against MOD deposits is available
Source 13Benefits and features
- Automatic transfer of surplus savings into term deposits
- Reverse sweep in defined units when savings funds are needed
- Nil monthly average balance and no maximum balance
- Digital banking channels and loan availability against MOD deposits
Eligibility
- Individuals must provide valid KYC documents; single, joint and listed survivor operating modes are available.
- The actual MOD return depends on the exact deposit creation date, tenor, amount and customer category; confirm the current card rate before relying on a return.
- Choose FIFO or LIFO deliberately because SBI applies LIFO when no mandate is recorded.
- Breaking a MOD deposit can affect the interest ultimately paid under applicable term-deposit premature-withdrawal rules.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Valid KYC documents