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What is the difference between MOD balance and available balance?

What is the difference between MOD balance and available balance? Find the answer to this question and access the vast question bank that is customized for students.

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Answer: 

MOD stands for multi option deposit. In this type of deposit, the excess funds lying in the savings account are automatically transferred to a fixed deposit account. In this manner, the holder earns a higher rate of interest. 

The available balance is the fund lying in the account holder’s savings account.

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