• 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 Savings Accounts have higher liquidity, in that they can be withdrawn from at any time, but Fixed Deposits don't have the benefit of such high liquidity.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

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    HDFC Bank Sweep in Reviews

    • HDFC Bank Fixed Deposit
      "Good to go with HDFC"
      0.5 5.0/5 "Blown Away!"
      I have one FD with HDFC, I deposited Rs. 1 lakh, I was opt for 45 days of tenure. Finally I got 6.25% of interest for 45 days. It won't cover the tax, if we need tax benefits we should go for five years term. I can track the details through netbanking, on the maturity date the amount credits automatically in the account. Even the notification can customized.
      Was this review helpful? 7
      , bangalore
      Reviewed on Aug 27, 2019
    • HDFC Bank
      HDFC Bank Fixed Deposit
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the savings account with HDFC BANK since from last 5 years, the reason for taking the fixed deposit was they are giving good rate of interest. The application is easy to use with the bank and to check the status of the account.
      Was this review helpful? 9
      , hyderabad
      Reviewed on Jul 20, 2019
    • HDFC Bank Fixed Deposit
      "GOOD"
      0.5 4.0/5 "Great!"
      To open the account with HDFC BANK is good and simple which is easy also quick process. They are providing with the good rate of interest with the bank. The online banking i am using it is simple and easy also it is good to use. The overall service is good.
      Was this review helpful? 4
      , kolkata
      Reviewed on Jul 17, 2019
    • HDFC Bank Fixed Deposit
      "Its satisfactory"
      0.5 4.0/5 "Great!"
      HDFC fixed deposit interest rate is very competitive as like other banks. I have activated the tenure period of one year. The online banking is convenient to manage my all investment, I can access all the information through netbanking without visiting to the bank.
      Was this review helpful? 7
      , bangalore
      Reviewed on Jun 30, 2019
    • HDFC Bank Fixed Deposit
      "Userfriendly Experience"
      0.5 4.0/5 "Great!"
      HDFC Bank FD is providing 7% of interest per annum, I can invest maximum of Rs.1.5 lakhs for under tax coverage. The tenure period get extend automatically after the maturity, for the tax saving FD there is five years of limit . I can deposit and withdraw the liquidity through online.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 29, 2019
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      I done a Fixed Deposit account with HDFC BANK before 2 years and the rate of interest was good. I have withdrawn the money and its neither loss or nor profit. My money is safer and return is very low. There was no locking period and the executive is supportive.
      Was this review helpful? 4
      , mumbai
      Reviewed on May 30, 2019
    • HDFC Bank Fixed Deposit
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      I had fixed deposit in HDFC for the amount of Rs.10,000 then I withdrawn in two months I got some interest. I went to the bank for account opening within few minutes they helped to open the account. There is no charges for pre matured liquidity fund.
      Was this review helpful? 5
      , hyderabad
      Reviewed on May 25, 2019
    • HDFC Bank Fixed Deposit
      "Good Returns from HDFC"
      0.5 4.0/5 "Great!"
      As per the guidance , I taken a Fixed Deposit in HDFC . This is one year plan and worth enough to take this plan in HDFC comparing with the interest rate . I am really happy with the better returns for my FD . I thought of continuing after one year also .
      Was this review helpful? 7
      , hyderabad
      Reviewed on May 13, 2019
    • HDFC Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I am using HDFC Bank Fixed Deposit for the past 6 years ,using net banking is also good ,customer service is good .flexy deposit ,whenever required can take the amount and can deposit it later .There was no issues faced so far .The Banking service is good to me so far.I am satisifed with the banking service.
      Was this review helpful? 5
      , chennai
      Reviewed on May 13, 2019
    • HDFC Bank Fixed Deposit
      "Very much convenient"
      0.5 5.0/5 "Blown Away!"
      My all time favorite is Fixed Deposit which is secured and I can count the returns on evey month which am most comfortable. My family all have them are having in HDFC account, the manager is very friendly and rendering the service. Am doing investment since 2011 and their services are more good than the profit.
      Was this review helpful? 2
      , hyderabad
      Reviewed on May 12, 2019
    • HDFC Bank Fixed Deposit
      "Userfriendly FD experience"
      0.5 4.0/5 "Great!"
      I do have fixed deposit with HDFC, I opened it through online there is no locking period, while opening I have specified the maturity date. Minimum deposit start from Rs. 5000, they are providing 7.3% per annum. Its safe and secured to invest money with HDFC.
      Was this review helpful? 3
      , bangalore
      Reviewed on May 03, 2019
    • HDFC Bank Fixed Deposit
      "Flexible Fixed deposit"
      0.5 5.0/5 "Blown Away!"
      HDFC Is more convenient to open and close the FD through online, they give better interest as per the RBI around 6.8%. The online portal is easy to track the fixed deposit details, the help desk is good to handle the queries. I am very much happy with HDFC. I can take the tenure from three months to max tenure.
      Was this review helpful? 1
      , delhi
      Reviewed on Apr 29, 2019
    • HDFC Bank Fixed Deposit
      "Satisfied with the service"
      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 earn a good interest. 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? 2
      , bangalore
      Reviewed on Apr 26, 2019
    • HDFC Bank Fixed Deposit
      "Good Service I am getting"
      0.5 3.5/5 "Pretty good"
      I normal deposit a cash of either 10 or 15 k in my fixed deposit because I don't have much surplus cash . Nowadays just for the name sake depositing my money in FD . Though they provide very less returns but the guarantee of getting the money back is sure .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Apr 23, 2019
    • HDFC Bank Fixed Deposit
      "Excellent services"
      0.5 4.5/5 "Excellent!"
      The best bank for a fixed deposit is HDFC Bank. The customer support is good and they are responsive as well. They offer an interest like other bank on my savings. The best is there is no lock in period so I close this account when ever I want too and I can do it with just a click away online. Where as other banks they would ask me to go to the home branch.
      Was this review helpful? 4
      , new delhi
      Reviewed on Apr 16, 2019
    • HDFC Bank Fixed Deposit
      "Its Good"
      0.5 4.0/5 "Great!"
      I went to the bank for the FD process, the service was good they helped to open the account on the same day. I took the fixed deposit for the period of three years and I deposited Rs. 1 lakh, I would get the amount of Rs. 1.35 lakh. I do have HDFC online access .
      Was this review helpful? 4
      , hyderabad
      Reviewed on Apr 03, 2019
    • 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 earn a good interest. 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? 4
      , bangalore
      Reviewed on Mar 29, 2019
    • HDFC Bank Fixed Deposit
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had just started this investment couple of months back and the services which they had provided has been good. I had started this investment through one of the brokerage nearby. Their customer support has been helpful and has been guiding me through out and the interest rate which they are offering has also been quite good.
      Was this review helpful? 5
      , new delhi
      Reviewed on Mar 03, 2019
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 4.5/5 "Excellent!"
      I have a fixed deposit with HDFC which was started 2 years back. I have chosen it mainly for the interest rate and also its convenient to open this account online also am a salary account holder. The locking period is 5 years. I never faced issues with the customer service. They need an improvement on interest rate because I think it could be better.
      Was this review helpful? 7
      , bangalore
      Reviewed on Feb 01, 2019
    • HDFC Bank Fixed Deposit
      "Good investment"
      0.5 5.0/5 "Blown Away!"
      I have invested in the fixed deposit for the amount of Rs. 1 lakh for 10 years, the interest rate is around 9% per annum. I went to the bank and opened the FD, there is no charges for pre matured withdrawal. The executive explained each benefits of the FD.
      Was this review helpful? 9
      , bangalore
      Reviewed on Jan 24, 2019
    Common Loader Icon
    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.