Sweep in facility in sbi
It is only useful if you have large bank balance left at the end of the month after expenses.
Sweep-in accounts are saving accounts which give extra benefit of fixed deposit.
For example Suppose you have a fixed deposit of 1-year tenure.This entire process is automatic and works in real time just like how a savings account would have worked.A definition voucher maximum of 4 free withdrawals are allowed in a month.Second rule applies to the interest earned on the mods deposits.The penalty would be also relevant for non-upkeep of minimum balance within the savings banking account.
Hdfc bank does it in multiple of.
The minimum threshold limit that you can choose in Savings Plus account is INR 25000.
So the Rs 40,000 (above threshold limit) will be put in Fixed Deposit.
The account can be opened and operated either singly or jointly There is no requirement of an initial deposit to open the account.
Maximum rewards points when you pay through YES PAY.Moreover, the bank also provides for a 24*7 customer care facility for any queries.Lets compare the savings accounts: Not exactly!Disadvantages You have to pay the penalty on interest if you are utilizing funds over the limit.Any transfer will be subject to the threshold limit you may have chosen as well as to the minimum MOD deposit amount.SBI offers a range of savings bank accounts ranging from premium accounts to basic ones, accounts for children and also for youth, and SBI womens savings bank accounts.Official Facebook Page and sign up for our free newsletter.In auto sweep Firstly you have to define a threshold amount to the bank.Offers higher return along with facility to avail up to 70 cash back.