State Bank of India (SBI), India's largest public sector lender, has raised the minimum threshold limit for Multi Option Deposit of Savings Bank Account under the Auto Sweep facility from Rs 35,000 to Rs 50,000.

This means that the minimum threshold limit above which MODS will execute under Auto Sweep is now Rs 50,000.

Key Highlights

• SBI raises MOD auto sweep threshold to ₹50,000, enhancing savings account interest earnings.
• New ₹50,000 MOD limit allows automatic FD transfers, maintaining liquidity and earning fixed deposit rates.

What is the SBI Multi-Option Deposit Scheme?

SBI MOD is one of several term deposit options. MODS can be opened through a Savings Bank Account with an Auto Sweep facility or on a stand-alone basis.

According to SBI's website, the basic feature of this scheme is to help customers earn higher interest rates by automatically transferring surplus funds from their Savings Bank Accounts to Term Deposits (MODS). 

If the amount in the Savings Bank Account is insufficient to honour the debit mandate, a partial or full withdrawal (reverse sweep) from term deposits will be executed and credited back to the Savings Bank Account.

Also Read: SBI to Revise Credit Card Rules Effective 16 September 2025

Who Can Open a Multi Option Deposit Account?

The account can be opened by an individual, jointly, or by a minor (either directly or through a guardian).

Multi Option Deposit: Deposit Period

The minimum tenor is one year, and the maximum is five years.

Multi Option Deposit: Interest Application and Premature Payment

According to SBI, interest is paid quarterly, compounded, and is the default setup. When there is a MOD break, the amount is paid with a penalty at the applicable interest rate for the period the broken amount has run, while the remaining amount continues to earn the original interest rate. TDS is deducted where applicable. Senior citizens are eligible for additional interest rates as applicable, whereas super seniors are not.

Multi-Option Deposit: Nomination Facility

The nomination information from the primary or linked savings bank account will be automatically stamped in MOD accounts. However, if a customer wishes to change the Nomination on any of the accounts, he or she can do so.