e-TDR/e-STDR (MOD) Frequently Asked Questions for Indian citizens with Bank account

1.     What is e-TDR/e-STDR (Multi Option Deposit) ? The MOD (Multi Option Deposit) account is a combination of your transactional (debit) account and deposit account. These are the Time Deposits but at the time of need for funds, withdrawals can be made in units of Rs.1,000/- from the deposits by issuing a cheque from Savings Bank Account or from ATM / branch or through any other channel. This kind of deposits is completely liquid. The sum of available balance in the transactional account and MOD balance can be used for issuing cheques or withdrawal or making any other payment. 2.     What is the tenure for MODs ? Minimum 1 year, maximum 5 years. 3.     What are the interest rates for a term deposit ? The interest rates vary from time to time. You can view the latest interest rates by clicking on "View current interest rate" link provided in e-TDR/e-STDR (MOD) request page. 4.     What is the minimum amount for a term deposit ? You can open a MOD account with a minimum amount of Rs.10,000 with increments in multiple of Rs. 1000. However minimum and maximum amount limit may vary for different product codes. 5.     Can I generate an MOD account advice ? Yes, you can generate and print an MOD account advice containing all the relevant details. 6.     In whose name will the MOD account be opened? What will be the mode of operation ? The name(s) and mode of operation and branch of newly generated MOD a/c will be same as in debit a/c, from which the MOD a/c is funded. 7.     How is the maturity amount calculated? Can I make enquiry before opening e-TDR/e-STDR (MOD) ? The maturity amount is based on the tenor and type of a/c selected by you. You may enquire the maturity amount, maturity date and rate of interest, without opening e-TDR/e-STDR(MOD) through "Enquiry" tab available in e-TDR/e-STDR(MOD) page. 8.     What are the types of accounts from which I can debit an amount for the deposit ? You can debit a savings account to open MODs. The account selected for debiting should be a valid transactional a/c through Internet Banking channel and should not be a stopped / dormant / locked account. 9.     How can I pre-maturely close my MOD a/c ? For premature closure of MOD a/c you may use 'close a/c' tab under e-TDR/e-STDR (MOD) link which will close your MOD account instantly if request is initiated between 08:00 AM IST and 08:00 PM IST. Request initiated beyond this period will be scheduled for next opening hours i.e. 08:00 AM IST. The maturity proceeds will automatically be transferred to your debit a/c from which MOD account was originally funded at the time of opening. 10.  Can I close MOD accounts opened at the branch through Internet Banking ? No. 11.  Can I open online term deposit a/c in any other name(s), not belonging to debit a/c from which term deposit a/c is funded ? No. 12.  Can I transfer the maturity money to any of my accounts ? No, maturity amount or the amount payable before maturity, will be transferred only to the debit account from which it was funded. 13.  Can senior citizen avail additional rate of interest on MOD accounts ? Yes, senior citizens can avail additional rate of interest in e-TDR/e-STDR (MOD). The date of birth in Bank's record will be considered for age calculation. The minimum days and minimum amount applicable for additional rate of interest for senior citizens will be as per Bank's discretion. In case of joint accounts, the senior citizen benefit can be availed only if the first account holder qualifies for this benefit. 14.  Is the term deposit advice generated through SBI online banking system equally valid as that printed through the branch ? The advice is equally valid as provided by branch. Internet Banking customers are advised to take printout of term deposit advice after generation of deposit a/c. However, if presented at the branch for payment, branch will verify all the details shown in the advice before proceeding further. 15.  How can I add nominees in MOD a/c ? While opening an e-TDR/e-STDR(MOD), you will be provided with an option to retain the same nominee(s) for MOD a/c as appearing in your debit a/c from which the MOD is funded. 16.  Can I add a new nominee online ? No, you will have to visit your branch for adding a new nominee. 17.  Is there any cut off time for creating e-TDR/e-STDR (MOD) online ? Yes. e-TDR / e-STDR (MOD) can be created online from 8:00 AM IST to 8:00 PM IST. Requests initiated beyond this period will be scheduled for the next opening hours.