• IndusInd Bank Sweep in/Sweep out

    If you are a customer of IndusInd Bank, you can open a fixed deposit (FD) account to invest your savings in order to meet your financial requirements. There are various benefits of opening an FD account as one of them is sweep in/sweep out facility which ensures that your funds are liquid and is available anytime for you. Under this facility, a specific fund amount is transferred to term deposit for a fixed period. In case there is insufficient balance in the CA/SB account, then the amount required to be transferred will be done by breaking deposits.

    Features and Benefits of Sweep in/Sweep out Facility

    • Minimum deposit amount will depend on the type of savings or current account opened in your name with the bank.
    • The interest rate charged by the lender will be will be applicable to the term deposits including the benefits offered to the senior citizens.
    • The deposit tenure offered ranged between 30 days and 24 months.
    • Nomination facility and premature closure facility is available.

    Eligibility criteria

    This facility can be availed by both individual or corporates who have opened an FD account with the bank and are getting continuous float in CA/SB.

    Documents to be submitted

    • Application form.
    • Passport size photo of the applicant.
    • Proof of identity such as Aadhaar, passport, etc.
    • Proof of address such as Aadhaar, utility bills, etc.
    • If you are a new customer, then you will need to be introduced to the bank by an existing customer.

    How to apply for IndusInd Bank Sweep in/Sweep out Facility

    You can open a sweep in/sweep out deposit account by visiting the nearest IndusInd branch and submitting the deposit account form along with all the necessary documents. If all the details mentioned are correct, you will be able to open a sweep in/sweep out deposit account with the bank.

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