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.
Other Flexi Fixed Deposit Schemes
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.
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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