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What is mod balance in a bank account?

Updated: 9/18/2023
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what is the mod balance in account

what is the definition of mod balance

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Q: What is mod balance in a bank account?
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What is plus mod balance in bank loan?

plus mod balance in bank loan is the money who pay on the bank that you loan with interest rate and original cost.


What is a bank balance?

A bank balance is the amount by which a current account is in credit or deficit.


How do you transfer mod balance to available balance?

It is not money on deposit. It is "Multi Option Deposit" which means: you can decide upon the money going to Fixed Deposit for the minimum amount you set for your account. For instance: You have 50000 in your account. In normal scenario, you will be getting interest on the above amount as per saving bank interest rate. But in case you have MOD account, you can decide that what ever amount is surplus of 10000, it goes into MOD balance and for those amount, you get a interest rate as you get incase of Fixed deposit.


What if you have a negative balance in your bank account for 6 months?

If you have a negative bank balance for six months, the bank is likely to charge you fees and ask you to pay them what you owe. Once the account is back to zero, the bank will likely close that account.


Is that you can maintain zero balance in posb bank?

Usually banks offer zero balance bank accounts to customers who have salary accounts with them. I have a zero balance account with DBS and since DBS and POSB are part of the same group, I guess they too will have a zero account balance bank account. You need to submit this bank account to your employer and if they GIRO your salary to this account automatically every month, it should be fine.

Related questions

What is plus mod balance in bank loan?

plus mod balance in bank loan is the money who pay on the bank that you loan with interest rate and original cost.


Who is responsible for confirmping your bank account balance?

who is responsible for confirming your bank account balance


How do you check balance in account of maharashtra bank?

Yes we can check our balance in account of bank of maharashtra


The amount of money in a bank account is called what?

account balance


Can you check your balance in bank of maharashtra online if you have account in that bank?

I feel,Yes i can check my balance if i have an account.


How do you check online obc bank balance?

I want to check balance. and my account no. is 01862191025786.


Can you check your bank account balance?

I want to check my A/c


Principal accounts on a bank's balance sheet?

Loan account is the most important account in the bank's Balance sheet.


If a balance in the bank account is overdrawn on what side is the balance brought down?

bank


What is a bank balance?

A bank balance is the amount by which a current account is in credit or deficit.


How do you transfer mod balance to available balance?

It is not money on deposit. It is "Multi Option Deposit" which means: you can decide upon the money going to Fixed Deposit for the minimum amount you set for your account. For instance: You have 50000 in your account. In normal scenario, you will be getting interest on the above amount as per saving bank interest rate. But in case you have MOD account, you can decide that what ever amount is surplus of 10000, it goes into MOD balance and for those amount, you get a interest rate as you get incase of Fixed deposit.


You want check your account balance in canara bank bagalore bensontown?

i want check my account balance from canara bank