MOD stands for Depot Option Deposit. SBI Bank offers the facility to automatically charge additional funds to the MOD account. In this guide, we will see what the mod balance is and how you can check the mod balance in SBI.[Recommended:How To Get Mini Business Statement
What is the balance of MOD?
- Multi option deposit is a facility that automatically sweeps the excess amount from your account into a fixed deposit.
- When your account balance exceeds a certain amount, the remaining amount will be transferred to the MOD balance.
- The MOD account earns a higher interest rate.
- The MOD account is designed for a period of 1 year.
How to MOD balance check in SBI
- There are two ways you can quickly check the mod balance in SBI
- With the SBI YONO Lite app
- Through Internet Banking
How to MOD balance on SBI check the use Yono Lite application
- Install the SBI Yono lite app on your smartphone and sign in with your online banking id and password.
- Once signed in to your account, tap the My Account option.
- Click on the My Account option
- On the screen, tap the Account Summary option.
- Click on the account summary
- Now, from the new screen, tap on the Deposit Accounts option.
- check the mod account balance
Check the MOD balance in SBI using Internet Banking.
- Open the SBI internet banking website on your phone/computer – https://www.onlinesbi.com/.
- Signup for your user ID and The password.
- Click on the Account Summary option.
- On the new screen, under the Depos section, you can view all your MOD accounts.
- check the mod balance in sbi internet banking
- Click on the “Click here for balance” option to check the mod balance in said.
- Here’s how to easily check the mod balance in SBI.
How to withdraw money from a MOD account
- The MOD account balance can be deducted when the balance of your primary account falls below a certain amount.
- For example, when my account balance falls below 25000 Rs, the mod account balance will be added to the maximum 1000 rs in the main account balance.