This is an innovative deposit option that allows you the convenience of a bank account without compromising on the interest that your money earns compared with a long-term investment vehicle like a fixed deposit (FD).
This facility also works better than a regular savings account.
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.
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?What will be the mode of operation?What are the applicable eligibility criteria?Second rule applies to the interest earned on the mods deposits.You can debit a savings account to open MODs.That's not true for deposits under mods.This is still higher than the normal savings account rate (which may be as low.5) but you lost some interest because of this pre-mature withdrawal.Icici Bank has recently introduced a pure online account called B2 linked sweep book of shadows audiobook with this facility.I discount ipad games recommend sticking to 10k MOD deposit limit while the threshold limit should be same as your average monthly expenses.Internet Banking customers are advised to take printout of term deposit advice after generation of deposit a/c.How is the maturity amount calculated?Any transfer will be subject to the threshold limit you may have chosen as well as to the minimum MOD deposit amount.
If the amount you are withdrawing is less than what's already available in your savings account, your MOD deposits won't be touched.
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.
If you are opting for Premium Savings account, the MQB is 25k.If your threshold was 1 lakh, this return would have been.5.What is the advantage of this product?What is e-TDR/e-stdr (Multi Option Deposit)?The minimum days and minimum amount applicable for additional rate of interest for senior citizens will be as per Bank's discretion.To avoid frequent withdrawals, ensure that your minimum threshold limit is same as your monthly expenses.The account selected for debiting should be a valid rebates for windows in bc transactional a/c through Internet Banking channel and should not be a stopped / dormant / locked account.How does it work?What is the minimum amount for a term deposit?However, do note that even mods has a separate minimum deposit size of INR 10k (and in multiples of INR 1k post that).So, Syndicate Bank calls it the premium savings account, at hdfc Bank, its called the sweep-in facility, while at Standard Chartered Bank its the 2-in-1 account.