Mar 31, 2011 · Auto-Sweep facility interlinks your saving bank account with a Deposit account and makes sure any extra amount lying in your bank account above a threshold limit is automatically transferred to Fixed deposits and you earn better interest on your money.

3 days ago · An auto sweep account is a type of bank account that automatically transfers excess funds from your savings account to a fixed deposit account, allowing you to earn higher interest on your savings while maintaining liquidity.

Jul 4, 2024 · You can opt for an auto sweep facility to link your savings with fixed deposit accounts and earn higher returns on the extra amount lied in your savings account. Know its benefits, steps to activate, etc.

2 days ago · Suppose that you want to avail a sweep-in facility along with your regular FD, and you have set an account limit of ₹45,000. Let’s consider that you already have a minimum balance of ₹25,000 in your bank account and want to deposit an amount of ₹60,000.

UBI Savings Flexi Deposit Account - Check the fees & charges of the UBI Savings Bank Deposit Account. Also, know the minimum balance & sweep out facility.

4 days ago · Bring your idle funds sitting in your Savings Account back to life with Auto-Sweep facility. Combining the benefits of liquidity of a Savings Account and the higher interest rates of Fixed Deposits, Auto-Sweep facilitates convenience and efficiency.

To activate an Auto Sweep Facility, you need to either apply for it with your bank during the account opening process or visit your bank's branch in case you have already opened your bank account.

Feb 20, 2024 · The auto sweep facility operates in a series of steps to optimise your savings. Initially, when your account balance surpasses a designated amount, the surplus funds are automatically transferred to a fixed deposit account with …

Feb 9, 2024 · Several banks offer the Auto Sweep facility, providing customers with a range of options to suit their financial goals. While the specific features may vary, many leading banks include the auto sweep facility in their account offerings. You can inquire with your respective banks or refer to the banks' official websites for details.

Aug 21, 2024 · The auto sweep facility is a smart way to maximize your savings by earning higher interest on surplus funds without compromising liquidity. By understanding its features, benefits, and how it works, you can make an informed decision and take full advantage of this facility.