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What is sweep-in facility in FDs?
short by Dharini Mudgal / on 08 Aug 2025,Friday
A sweep-in facility ensures that whenever funds in a person's savings account are running low for a purchase or transaction or during a financial crisis, the bank will automatically transfer the deficit amount from the fixed deposit (FD) to the savings account, HDFC Bank stated. This does not affect the interest rate on the fixed deposit.
short by Dharini Mudgal / 09:53 pm on 08 Aug
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