Multi Option Deposit Account

Multi Option Deposit Account i.e. Savings Plus Account provides our Customers the convenience of a Savings Bank Account along with higher return of Term Deposit. It provides automatic deployment of surplus funds as Multi-Option Deposit (MOD) from the Savings Bank component beyond Threshold Limit, on an ongoing basis.

How it works
In excess of Threshold limit of S.B. A/c i.e ₹ 5,000/- and in multiple of ₹ 1000/- a new STDR A/c will be created for specified period is to be converted to MOD.
If any Savings Plus customer wants to withdraw money from the account and there is a Threshold Limit of ₹ 5000/- available in the account, then last MOD created in multiple of ₹ 1000/- will Reverse Sweep and transferred to Savings Plus Account to enable the customer to withdraw money from Savings Plus Account. In this case, MOD amount will decrease in “Last in First Out Basis” (LIFO).
All STDs under MOD Scheme will be opened for maturities as applicable to MOD Scheme from time to time, which is at present 1 year to 5 years.
On maturity of MOD accounts, the entire amount (Principal + Interest) will be transferred to Savings Plus Account and again exceeding of Threshold Limit a new STDR account will be opened

Reach Us

    LANGPI DEHANGI RURAL BANK
    HEAD OFFICE :: DIPHU
    KARBI ANGLONG
    ASSAM-782460
    E-MAIL : ldrbank@rediffmail.com
ATM TOLL FREE NO

1800-3000-0620

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