Thursday, December 15, 2011

What is difference between MOD balance and available balance ? ?

When i check balance through sbi atm counter i find this. Can you help ?|||It is fMulti Option Deposit facility account. In other Banks such facility is known as sweep account. As per this scheme the excess amount in the savings bank account will be transferred to fixed deposit account and the account holder will get more rate of interest. If the Bank receives cheque in this account and the balance is not sufficient, the amount will be transferred from deposit account to savings bank account to pass the cheque.

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