Suppose you want to withdraw / issue cheque of Rs 25000.
Similarly, in the reverse-sweep facility, excess funds available in the savings account will be swept back into the overdraft account, thus reducing the interest cost of the customer.
This is default feature in many banks.How to enable this Sweep in/out facility Different banks have different names for such accounts like Supersaver facility, hdfc SavingMax Account, Kotak ActivMoney, icici Money maximiser etc You have two options: 1) Auto Sweep-out facility Sweep in : In this facility, Bank will automatically sweep-out.Lets say, the 1 year fd rate is 9 and 6 monmth FD columbia jacket online coupons rate is 8, if you withdraw money after 6 month, you will get 8 penalty.But, lets see how you can increase your returns upto 9 using Sweep In/Out facility.The money will be swept-in from your FD account to your saving account automatically.
The bank said for term loan, equated monthly instalment (EMI) will be applicable.
It combines benefits of both accounts.
46,905 views, last updated free government food vouchers : 9th April, 2014.You earn FD interest on that amount till the date of withdrawal.Hdfc Bank provides this facility to all its customers who have NetBanking facility.Some banks allow the FD for defined tenure only while others allow you to choose FD tenure.The minimum and maximum loan over the Home Overdraft facility.Mumbai, Nov 2: icici Bank has launched a credit facility against home loans for salaried customers.1) An FD is made for the whole amount which earns higher interest rate.Advantanges: FD is created automatically once the balance of saving account is above threshold limit.