Escort Bayanlar Maltepe
Mp3 İndir Dur
FeaturedFinance

What is Auto-Sweep Facility in a Savings Account?

Savings accounts are undeniably convenient. You can receive salaries, make daily transactions, pay bills, initiate investments, and even pay loan Equated Monthly Instalments (EMIs), all while having 24/4 liquidity and flexibility. However, most savings accounts offer nominal interest rates that barely outpace inflation. This means that if you keep an idle balance in your account, your hard-earned money will barely maintain its purchasing power over time.

However, there is a solution! Some banks in India offer a feature called an “auto-sweep facility” that can help you address this challenge.

What is an auto-sweep facility?

An auto-sweep facility is a banking service that automatically transfers surplus funds from your savings account to fixed deposits whenever the balance exceeds a predetermined threshold. This allows you, as an account holder, to earn higher interest rates on the excess amount while maintaining the liquidity of a bank account.

Zero-balance saving account holders can also take advantage of this feature and boost their savings potential without having to maintain a minimum balance.

How does auto-sweep in savings accounts work?

When you open an IndusInd Bank Indus Multiplier Max Savings Account, you receive the combined advantages of a savings account and a fixed deposit. Your excess funds do not sit idle but continuously work and add to your financial health.

Here is how this facility works:

When your account balance exceeds ₹20,000, the surplus amount is automatically converted into FDs in multiples of ₹1,000 and earns higher returns. If your account balance falls below the minimum threshold limit, i.e., ₹10,000, the needed funds are automatically swept back from the FD to the savings account. Note that these withdrawals attract no penalties. This way, you get the best of both worlds, i.e., higher returns and convenience.

So, what’s the wait for? Open asavings account with IndusInd Bank today and double up your savings.

Benefits of the auto-sweep facility

An auto-sweep account offers several advantages to savings account holders, such as:

Maximises earnings

This facility ensures that idle funds don’t sit in a low-interest savings account. Instead, it helps your money grow by moving it to an FD with a higher interest rate.

Ease of setup

Setting up the auto-sweep facility is simple. You can do it through online banking in a few clicks.

Set it and forget it

An auto-sweep account eliminates the need to manually move funds between a savings account and FDs. This saves time and also makes sure you don’t miss out on earning higher interest on your surplus funds due to oversight or delays.

Maintained liquidity

Despite the funds being in a fixed deposit, they remain accessible. Funds can be moved back to the savings account if the balance falls below a certain threshold.

Build a separate corpus

The auto-sweep facility allows you to create a separate corpus that you can use during emergencies. This way, you may not have to take out loans or resort to other options to handle unexpected financial challenges.

To sum up

The auto-sweep facility merges the liquidity of a savings account with the benefits of a fixed deposit. By automatically transferring surplus funds to FDs, you can earn higher returns without the need for constant monitoring and manual transfers. Moreover, you can activate this facility online from the comfort of your home and put your excess funds to work immediately.

Don’t delay anymore! Open a savings account with the auto-sweep benefit now and boost your financial growth effortlessly!

Antalya escort

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Kartal EscortBetandreasmaltepe escortbostancı escortkadıköy escortbonus veren sitelerfruit partystardaMaltepe EscortPendik Escortbonus veren sitelerbonus veren sitelerbonus veren sitelerAnadolu Yakası EscortArascasinolimitsizbahismisliwinhullbetsowinbetloyalbahislibertabetmoldebetorbibetankabahisataşehir escortPure casinoHyper casinoDrift casinoBetsson casinoligobetistanbul escort bayanvipdevushki.comhttps://www.digitalnorthampton.com/casino siteleriJojobetbetturkeybetonredhttps://www.poyef.org/Porno Film izledeneme bonusuistanbul escortzlot güncel girişzlotesbetesenyurt eskortşişli escortzlotgaziantep escortgaziantep escortporno izlezlot1xbet girişcasibomcasibomcasibom güncel girişistanbul escortbeylikdüzü escortcasibommarsbahisonwincasibomstakestakejokerbetmegaparimarsbahis giriştümbet girişgrandpashabetgrandpashabetmersin escortJojobetcasibom güncel girişcasibomextrabet Girişextrabet Xdeneme bonusu veren sitelerMeritkingcasibompusulabet girişmatadorbetOnwin resmi girişBodrum escortÇerkezköy escortSakarya escortMeritking giriş resmibetplayankara escortGrandpashabetbetwoonspincoGrandpashabetjojobet girişbetebet girişnakitbahis güncel girişonwinjojobet güncel girişjojobetdinamobet güncel girişbetkanyon güncel girişkralbet güncel girişcasibomjojobetbets10 güncel girişjojobet güncel girişjojobet güncel girişjojobet güncel girişjojobet güncel girişjojobet güncel girişmatadorbet güncel girişmatadorbet güncel girişholiganbet güncel girişmarsbahis güncel girişmarsbahis güncel girişmeritking girişdumanbet güncel girişbetebet girişbahsegel güncel girişjojobetvaycasino güncel girişultrabet güncel girişcasibom girişmarsbahis güncel girişonwin güncel girişnakitbahis güncel girişbetnanoaresbetbetexperbetsmovebetsmovebetistparibahisbetwooncasibom güncel girişsuperbetinbetwoonbetwoonselçuksportsCasibommarsbahisholiganbetkadikoy escortjojobet970sekabet girişCasibommeritkingmasalbet üyelikpin up giriş1xbet üyelikotobet üyelikJojobetsetrabetsetrabetbets10tümbetcasibom güncelbetebet girişbetebet girişbetebetbetebetbetebetJojobet güncelavcılar escortcasibom girişcasibom girişcasibom girişcasibomcasibomistanbul escortbets10 girişcasibomtipobetmeritkingcasibom girişmarsbahiscasibomcasibomcasibomdeneme bonusu veren sitelerDeneme Bonusu Veren Sitelerdeneme bonusu veren sitelercasilotesbetstarzbet girişcasibom girişsahabet girişcoinbarjojobet girişbetosferonwinmeritking girişasyabahisGalabetcasibom girişcasibom giriscasibom girişgalabetcasibomjojobetbetsmoveankara oto kurtarmatipobet güncel girişcasibom girişCasibomcasibomcasibomgrandpashabetmobilbahissahabet girişgrandpashabet girişcasibom güncel girişcasibom güncel girişmeritking girişcasibom girişcasibom girişcasibom girişmobilbahis girişjojobetsekabetcasibom güncel girişbahsegel girişholiganbetKocaeli Escortpusulabetmarsbahisimajbetjojobet girişcasibom girişmatbetTümbetjojobetholiganbetcasibombetparksekabetonwinsahabetmatadorbetgrandpashabetmatadorbetmeritkingcasibomKocaeli EscortimajbetimajbetbetcioMeritkingzula casino reviewluckyland slotsluckyland slots appjojobet girişbakırköy escortbiolinkmarsbahis girişbetwoonvaycasinosekabetMadridbet GirişmadridbetholiganbetBets10onwinİzmit Escortbingo blitzparibahisjojobetbetturkeymatadorbetonwinonwin girişonwin güncel girişcasino worldcasino worldslotomaniaslotomania free coinsİzmit Escortgrandpashabetcasibom günceljojbdn12süperbetincasibomMatadorbetonwin
casino siteleri canlı casino siteleri 1xbet canlı casino siteleri