Key Features
- Combination of Savings Bank account and Term deposit
- Auto Sweep into Term Deposits
Overview
This is a modern two in one savings plus fixed deposit account where your money gets auto swiped into fixed deposits & yet it is accessible as and when required. This gives the benefit & convenience of withdrawing money anytime anywhere & get decent interest on the savings at the same time.
Product Highlights
- Combination of Savings Bank Account Plus Term Deposits
- Auto Sweep Facility
Features and Benefits
- Balance from Savings Bank Account automatically sweeps into term deposit on every Monday after a threshold limit of ₹10,000
- The customer would be free to change the threshold limit at any time without any restriction, subject to a minimum of ₹5,000
- All term deposit (created by sweep out transactions) will be opened for minimum period of 15 days and a maximum of 6 months (Deposit to be made in multiples of days)
Eligibility
Individuals either jointly or single
Minimum Monthly Average Balance
Period of Deposit:
₹ 5,000
For VISA FD Scheme: Minimum period of 15 days and a maximum of 6 months.