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    HDFC Bank Sweep-in Facility

    We found 4 HDFC Bank Sweep-in Facility

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    3.5% - 7.45% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6% - 6.95% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    HDFC Bank Sweep-in Facility is Rated as "Excellent!" by 301 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

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 Savings Accounts have higher liquidity, in that they can be withdrawn from at any time, but Fixed Deposits don’t have the benefit of such high liquidity.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

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  • HDFC Bank Sweep in Reviews

    • HDFC Bank Fixed Deposit
      "Excellent to Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the HDFC bank and the interest rate is differed according to the offers. All of my deposits will be taken care by my relationship manager. Total tenure is around five years of time and its a kind of small deposits. Net banking services are an excellent one with them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 26, 2017
    • HDFC Bank Fixed Deposit
      "My FD"
      0.5 5.0/5 "Blown Away!"
      I had invested in FD with HDFC. The benefits what I get here is huge. I never used to visit the branch . I had got a phone call from them immediately they had sent their representative for the same. He helped me in filling the form and I do have online access and I view all the FD information online itself
      Was this review helpful? 2
      , kolkata
      Reviewed on Apr 20, 2017
    • HDFC Bank Fixed Deposit
      "My FD"
      0.5 5.0/5 "Blown Away!"
      Only for a short span of time I had invested in HDFC FD say for example 10 days or 15 days, for safety purpose I invested here and later withdraw dont have to worry about my balance on my ATM. I do this deposit frequently yearly do I it up to 6 to 7 times. online I had opted for this FD
      Was this review helpful? 10
      , bangalore
      Reviewed on Feb 23, 2017
    • HDFC Bank Fixed Deposit
      "Fixed deposit is fine"
      0.5 4.0/5 "Great!"
      HDFC Fixed deposit is fine I had never interacted with their executive everything was done online. It hardly took around 5 minutes for me to open the FD. online I am ale to renew the FD and everything is online . Interest rate is the best 6.75% it varies according to the tenure online is recommendable manual payment option is not recommendable.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Jan 06, 2017
    • HDFC Bank Fixed Deposit
      "Grow with hdfc"
      0.5 5.0/5 "Blown Away!"
      Normally, Rate of interest wont play much role for my fixed deposit account with HDFC bank. I can mention trust and loyalty are the major perspective there. There is no minimum lock in period with the HDFC bank for the fixed deposit, so accessibility is smoother one with them. Internet banking and other rendered services are really working fine.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Dec 10, 2016
    • HDFC Bank Fixed Deposit
      "Good saivngs account for customer"
      0.5 5.0/5 "Blown Away!"
      With HDFC Bank we cannot earn good interest when ti comes to FD. Though their lending rates are very high. When it comes to FD the interest rate what they provide is too low. It hardly takes about 2 minutes to open this account. There is no preclosure charges which is applicable and it is very minor too.
      Was this review helpful? 3
      , shimla
      Reviewed on Nov 28, 2016
    • HDFC Bank Fixed Deposit
      "Marvelleous service"
      0.5 5.0/5 "Blown Away!"
      Even FD with HDFC Bank is marvelous. Online I had raised a request for the closure and the funds were transferred to my account immediately. Over and above they did not charge anything for the foreclosure . This FD is one year old I can close it any time after 6 months.
      Was this review helpful? 4
      , new delhi
      Reviewed on Nov 26, 2016
    • HDFC Bank Fixed Deposit
      "Easy FD"
      0.5 5.0/5 "Blown Away!"
      I got my bonus from my company and want to invest the same in Fixed Deposit. Thorough net banking it takes only a minute to open FD for me. It was just awesome saves my time. The online banking service of the hdfc bank is just mindd blowing and time saving. Thanks
      Was this review helpful? 6
      , thane
      Reviewed on Oct 03, 2016
    • HDFC Bank Fixed Deposit
      "Convenient process"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank has given their customers the liberty to open a fixed deposit online and even to close it as per the customers convenience. The rate of interest was good. Likewise they are not high on charges. The best is, I do not have to visit the bank for anything.
      Was this review helpful? 10
      , salem
      Reviewed on Oct 01, 2016
    • HDFC Bank Fixed Deposit
      "Lower rate"
      0.5 5.0/5 "Blown Away!"
      As the returns were not that great also I found the interest rate was lower than other banks. I had actually shifted the amount which has got matured to another bank where I get an attractive rate of interest. No other facilitates were offered by HDFC Bank.
      Was this review helpful? 7
      , kolkata
      Reviewed on Aug 27, 2016
    • HDFC Bank Fixed Deposit
      "They really need to scale up "
      0.5 1.0/5 "Really Bad"
      I have invested in FD with HDFC Bank for a period of 5 years. The rate of interest offered was a very meagre 5%. I took the policy in 2005 and the policy has matured but there were some technical difficulties which I was facing and I have not been able to take this out. They had told me they were unable to reset the account with my customer id and password and its yet to be sorted out.
      Was this review helpful? 6
      , mumbai
      Reviewed on Jun 28, 2016
    • HDFC Bank Fixed Deposit
      "A good bank"
      0.5 3.0/5 "Satisfactory"
      I am long time customer of HDFC bank. Further, I hold a fixed deposit with them. The services are good. They are responsive. I could open an account online. It is convenient using this facility. Overall I have not faced hassles and overall it has been very much satisfactory.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jun 27, 2016
    • HDFC Bank Fixed Deposit
      "Smooth process for long term benefit"
      0.5 5.0/5 "Blown Away!"
      I had recently invested certain amount in Fixed deposit plan with HDFC bank, before one year they provided 8.50% interest rate for the lock in period of three years. The process was very simple within few minutes the account was activated. After completing the tenure, on the same day the amount was credited to my account.
      Was this review helpful? 12
      , ahmedabad
      Reviewed on Jun 08, 2016
    • HDFC Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Intered earned on Fixed deposit is 8.5% with HDFC bank before two years for the lock in period of five years. After the completing the tenure the amount is credited to the account automatically. But for activation the plan we have to visit the bank and we get the response at the earliest. The minimum amount to start the plan is Rs.10,000.
      Was this review helpful? 6
      , jamnagar
      Reviewed on Jun 04, 2016
    • HDFC Bank Fixed Deposit
      "Rate of interest is good"
      0.5 5.0/5 "Blown Away!"
      In August 2015 I had booked a Fixed deposit with HDFC bank through their online portal as its very easy to start a deposit without any hassles. I make my payments online and I pay a premium of Rs.15k on a yearly basis. Their rate of interest currently is 8% and I think its very beneficial as a savings or investment.
      Was this review helpful? 2
      , gandhinagar
      Reviewed on Jun 03, 2016
    • HDFC Bank Fixed Deposit
      "Lock the money and reap the less benefits"
      0.5 4.0/5 "Great!"
      I do lot of transaction with HDFC bank and thats why I choose it to open a fixed deposit account with them and the minimum lock in period which is opt for is more than a year of time. Interest rate is not a big deal for me and I can say its a kind of okay. I can open the deposit through online banking services and the user interface is quite simple and understanding too.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jun 02, 2016
    • HDFC Bank Fixed Deposit
      "Good savings option"
      0.5 5.0/5 "Blown Away!"
      I have been maintaining a fixed deposit scheme with HDFC bank since my salary account is with them. I had booked the deposit scheme through their online services for a period of 90 months. I pay around Rs.40k and I pay it online as its quite comfortable. However they have charges of 1% if the deposit is broken in between before the tenure is over. Its serves as a good savings option.
      Was this review helpful? 2
      , kolkata
      Reviewed on May 27, 2016
    • HDFC Bank Fixed Deposit
      "Customer focus bank"
      0.5 5.0/5 "Blown Away!"
      My fixed deposit account is with HDFC bank and the interest rate is a descent one with them and its very simple to go ahead for opening a fixed deposit like it used to take less than a minute. Minimum lock in period is up to the customer wish. Interest rate of HDFC fixed deposit for me is around 9.5%.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 27, 2016
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      HDFC bank is giving 7.50% interest rate for the normal citizen for the FD plan with the minimum lock in period of six month and for senior citizen they are providing 7.85%. The minimum amount to activate is Rs.5000.We can avail the facility thorough online within 2 minutes it got activated.
      Was this review helpful? 7
      , dhule
      Reviewed on May 21, 2016
    • HDFC Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      My fixed deposit is with HDFC Bank. The services are good. When ever there is a query I get a response. It is not a hassle to open a fixed deposit account. I could do it online. The rate of interest is satisfactory. There are no charges as well. Overall good.
      Was this review helpful? 7
      , bangalore
      Reviewed on May 17, 2016
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