SBI customers can transfer MOD account money to the saving/current account. You can partially break SBI MOD account and withdraw any amount and transfer it back to your saving account.
Now SBI MOD account enables you to withdraw money and credit back to your saving/current account. You can log in to net banking and break the MOD account.
- SBI MOD-related article: How to open SBI MOD account online
After withdrawing the MOD balance, the remaining MOD balance keeps earning applicable interest rate.
So if you want to withdraw some amount from your MOD account, then follow below steps:
Transfer MOD Money Back to Saving Account | Withdraw SBI MOD Money
First of all, log in to SBI Internet Banking, visit & click on personal banking login https://www.onlinesbi.com/
After login, click and open the Fixed Deposit section. In Fixed Deposit, click on the Partial Closure of MOD Accounts option.
Next page, enter the amount which you want to transfer back to your account and click on submit.
Finally, confirm your request by clicking on confirm.
Ok, so you have successfully withdrawn the MOD amount and it will be credited to your saving account. The remaining MOD balance keeps earning an applicable interest rate.
Do you know, you can also withdraw MOD balance from ATM. If there is not enough balance in your savings account then the amount can be withdrawn from the MOD account.
Unlike normal fixed deposits, SBI MOD enables you to withdraw any amount.
FAQ
Q.1 Can I Withdraw the full amount from MOD?
- Please keep a minimum of 10,000 amount in the MOD account, you can withdraw the remaining amount.
Q.2 Can I transfer MOD money to my savings account?
- Yes, you can transfer the mod balance back to your saving account.
Q.3 What is part term breakout in SBI MOD?
- When you withdraw money from your savings account through ATM or online and If there is not enough balance in your savings account then the amount will be automatically debited from your MOD account. This is called part term breakout.
Q.4: Can I transfer the MOD balance to someone’s account?
- Yes, just transfer money to any bank account. If there is not enough balance in your savings account then the amount will be automatically debited from your MOD account.