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  • Fixed Deposit BYTES FROM OUR KITCHEN

    HDFC Bank Sweep-in Facility

    HDFC Bank's Sweep-in Facility enables you to earn an interest rate that's as high as a Fixed Deposit - in your Savings Account. Savings Accounts have higher liquidity, in that they can be withdrawn from at any time, but Fixed Deposits don't have the benefit of such high liquidity.

    You can choose which deposits you want linked to your HDFC Current or Savings account, and if there are ever insufficient funds in your account to complete a transaction - HDFC will break the units of the deposit to honour the transaction. No more cheque bounces with this incredibly useful facility.

    The Sweep-in Facility works as a cluster deposit that's held in units of Re.1 each. Term deposits will automatically be broken by the bank in order to fulfil transactions for which there are not enough funds in your account. It also breaks deposits to make cash instantly available to you at ATMs when you're in need of more funds than are present in your account.

    For example:

    Let's say you've given a cheque to a credit for Rs.7,000, and have only Rs.5,000 in the bank. You have no time to go deposit cash in your account, and the cheque will be cashed immediately by the creditor.

    Sweep-in facility opted for with a Fixed Deposit worth Rs.10,000

    Savings account balance: Rs.5,000.

    Cheque issued for: Rs.7,000.

    HDFC Bank will break the Fixed Deposit up to Rs.2,000 (Rs.7,000 - Rs.5,000) and clear the cheque - preventing a cheque bounce and an uncomfortable situation.

    Eligibility Criteria for applying for HDFC Bank Sweep-in Facility

    The HDFC Bank Sweep-in Facility is available for:

    • Resident Indian Individuals.
    • Hindu Undivided Families.
    • Societies, trusts.
    • Private and Public Limited Companies.

    Features of HDFC Bank Sweep-in Facility

    Account Type

    Current account.

    Savings account.

    Amount This facility is not available for fixed deposits whose value is greater than Rs.1 crore.
    Rate of Interest

    Sweep-in Facility with Savings Account:

    Service charges will be as per those of the selected Savings Account. Average account balance needs to be maintained irrespective of the value of the Fixed Deposit.

    Sweep-in Facility with Current Account:

    Service charges will be as per those of the selected Current Account. Average account balance needs to be maintained irrespective of the value of the Fixed Deposit.

    Period This facility can be opted for whenever the customer wishes, and can be opted out of by simply contacting the branch.

    HDFC Bank Sweep-in Facility FAQs

    1. What is the sweep-in facility and how does it work?
    2. The facility is a cluster deposit that's held in units of Re.1. Units of term deposits are automatically broken by the facility in order to honour transactions and provide instant liquidity as and when required.

    3. What is the advantage of the Sweep-in Facility?
    4. Small business owners and those seeking a better liquidity option than an overdraft on their FD can really benefit from this plan, as:

      • There is no minimum amount that has to be withdrawn - a specific amount can be taken.
      • No additional fees and charges like those in an overdraft.
      • Excess money swept into the account earns interest at almost double the rate of regular savings accounts - and offers the same liquidity.
      • Transactions will always be honoured, provided there are enough funds in the FD units to be broken down and paid off.
    5. On what basis is the Sweep-in facility triggered?
    6. The Sweep-in facility from HDFC Bank is triggered on a Last In-First Out basis (LIFO). This is effective from the 22nd of February, 2014.

    7. How can one apply for the Sweep-in facility?
    8. Follow these steps to activate the Sweep-in facility:

      1. Log into HDFC Bank Net Banking account.
      2. Select the option "Fixed Deposit Sweep-in" under "Fixed Deposits".
      3. Click on the drop-down menu and select the Savings Account number, and the FD account number that is to be linked to the Sweep-in facility.
      4. Read through, and accept the terms and conditions.
      5. Click on "continue".
      6. Click on "confirm".
    9. Can multiple deposits be linked to the Sweep-in?
    10. Yes, more than one deposit can be linked, but it is to be noted that the last added deposit will be used first.

    Useful Information on HDFC Fixed Deposit

    HDFC Bank Sweep in Reviews

    • HDFC Bank Fixed Deposit
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      I also have a fixed deposit account with HDFC Bank. The process to open this account is easy. I can do it online. They also offer a good rate of interest on the account. The bank has always been up to the mark to ban with. It is very convenient and easy.
      Was this review helpful? 3
      , noida
      Reviewed on Jan 09, 2019
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I do have a fixed deposit account with HDFC Bank. They are giving good interest. I can manage this account on line. I have chosen HDFC because of bank financial is good. I have just started long time, The process was very quick and it was done through on line.
      Was this review helpful? 4
      , thane
      Reviewed on Jan 02, 2019
    • HDFC Bank Fixed Deposit
      "Convenient FD with HDFC"
      0.5 5.0/5 "Blown Away!"
      In HDFC I can deposit for minimum of Rs. 5000 to max amount. I done the investment of one time payment around Rs.6 lakhs. I can chose the tenure period based on the convenient, it gives the interest of 7% its maximum. I can open and close the account through online.
      Was this review helpful? 6
      , pune
      Reviewed on Dec 17, 2018
    • HDFC Bank Fixed Deposit
      "Good Investment plan"
      0.5 5.0/5 "Blown Away!"
      I have taken the fixed deposit for my wife. I have purchased the plan with HDFC bank. I have chosen in the year of 2012. I have invested the fixed amount of Rs. 17 lakhs. They have offered me a interest rate of nominal amount. The service is HDFC is really good. Every year i have enhancing the interest rate for the fixed deposit.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 30, 2018
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      I do have a fixed deposit account with HDFC Bank. They are giving good interest. I can manage this account online. I have chosen HDFC because of bank financial is good. I have just started recently and its a one time investment of 3L. The process was very quick and it was done through online.
      Was this review helpful? 1
      , noida
      Reviewed on Nov 27, 2018
    • HDFC Bank Fixed Deposit
      "Save money with very good interest rate"
      0.5 5.0/5 "Blown Away!"
      Currently HDFC is providing 7.5% of interest for FD account, I taken FD for the tenure of three years. I can deposit minimum to maximum amount, the customer service is very helpful related to the FD queries. I am getting message its very simple and beneficial.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 24, 2018
    • HDFC Bank Fixed Deposit
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I have a fixed deposit account with HDFC Bank and the banking process is good. I could open this account online and the account has been beneficial too. I can also close this account without having to go in person to the bank. It can be done online too.
      Was this review helpful? 8
      , chennai
      Reviewed on Sep 15, 2018
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I had started making this investment almost a year back. The interest rate with them had changing according to the market rate. The services which they had been providing so far had been very good. Tenure with them also had been good and i make the deposits directly.
      Was this review helpful? 7
      , new delhi
      Reviewed on Jul 26, 2018
    • HDFC Bank Fixed Deposit
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a fixed deposit with the HDFC bank for 1 Lakh, they offered an annual interest rate of 9.5% annual. They also offers special rates for Senior Citizen. Apart from the fixed deposit I hardly use the account. Overall their banking services are good.
      Was this review helpful? 29
      , chennai
      Reviewed on May 17, 2018
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I have a Fixed Deposit with HDFC bank from last 4 years, my experience was good so far and i did not face any issues with this bank. I have deposited a fixed amount of Rs 5-6 lakhs. When it comes to customer service, it is good and they gave all the right information. I get interest of 6% as returns and i am satisfied with it.
      Was this review helpful? 2
      , kolkata
      Reviewed on Mar 29, 2018
    • HDFC Bank Fixed Deposit
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I also bank with HDFC Bank for the fixed deposit. The customer services are good and there are no issues in the process. The lock in period is for a year. The interest rate is good and there are no charges. The experience has been good as I can track all the details on the mobile application.
      Was this review helpful? 2
      , bangalore
      Reviewed on Mar 24, 2018
    • HDFC Bank Fixed Deposit
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      It was a smooth process to open a fixed deposit at HDFC Bank. There is a lock in period for one year. After which I can close the account. The rate of interest is normal like the other banks. There are no charges taken for this. Good services overall.
      Was this review helpful? 3
      , new delhi
      Reviewed on Feb 19, 2018
    • HDFC Bank Fixed Deposit
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      My fixed deposit account is with HDFC Bank and the rate of interest is of 6.5%. The customer services are good and the response is also satisfactory. They contact me on time when ever there is a query. I been a long time privilege customer and I am happy with the services.
      Was this review helpful? 1
      , mumbai
      Reviewed on Feb 09, 2018
    • HDFC Bank Fixed Deposit
      "Average"
      0.5 3.5/5 "Pretty good"
      I do have Fixed deposit account with the HDFC bank and the interest rate was around 7.5% and the customer service was an average one. I would like to say that the response was okay one for me with the HDFC bank and everything is good one too with them.
      Was this review helpful? 2
      , kolkata
      Reviewed on Feb 06, 2018
    • HDFC Bank Fixed Deposit
      "Easy to start and renew"
      0.5 4.5/5 "Excellent!"
      I had invested in FD with HDFC through net banking. The benefits what I get here are huge. It hardly takes about 5 minutes to open this deposit. Net banking and mobile app are very easy to use. I can see the FD summary online and also renew it online. Current Rate for 1 year FD is 6.75% per annum.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Jan 28, 2018
    • HDFC Bank Fixed Deposit
      "Very Convenient "
      0.5 5.0/5 "Blown Away!"
      I have opened HDFC fixed deposit before eight months, I have deposited the amount for the period of one year. Then if I want I can renew it through online. They are providing 6.9% of interest for FD account, I could track FD through netbanking and phone banking.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 23, 2018
    • HDFC Bank Fixed Deposit
      "FD with HDFC"
      0.5 4.0/5 "Great!"
      I have opened a fixed deposit account with HDFC bank. They are providing good interest for fixed deposit. The interest rte is 6.75% annually. The duration for my FD is for 12 months. If i withdrew with in the duration then some charges will be applicable which is around 1 to 2% of the principal amount.
      Was this review helpful? 2
      , thane
      Reviewed on Dec 30, 2017
    • HDFC Bank Fixed Deposit
      "Better"
      0.5 4.0/5 "Great!"
      I had opened a Fixed Deposit account with HDFC Bank through online portal. Earlier they provided higher rate of interest now it was come down to 6.9%. Whenever I call the customer support they respond properly and IVR system is good. The net banking features are good.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Dec 29, 2017
    • HDFC Bank Fixed Deposit
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a fixed deposit with Hdfc,the service was good. I use Hdfc fixed deposit online application which was easy to use still I use to visit their branch directly to deposit it has been 20 years I have taken the fixed deposit with Hdfc it was a fine experience with Hdfc fixed deposit service.
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 26, 2017
    • HDFC Bank Fixed Deposit
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I am having the fixed deposit account with the HDFC bank and the online banking services are good one too. I am happy with the HDFC bank till now. Online banking services are really good one with the HDFC bank.
      Was this review helpful? 10
      , bangalore
      Reviewed on Dec 07, 2017
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