Earn FD interest on your savings through Auto Sweep facility
An overview of how the Auto Sweep Facility enhances savings returns without locking funds away.
ZeeBiz WebTeam | Jul 25, 2024, 07:59 PM IST
This article provides an overview of the Auto Sweep Facility, explaining its automated process of transferring excess savings to Fixed Deposits and back. It highlights enhanced returns compared to regular savings, the benefit of no lock-in periods, and offers guides for activating the facility via SBI's internet banking and YONO app. It also covers setting threshold limits and managing the facility to ensure flexible access to funds.
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How Auto Sweep Works
![How Auto Sweep Works How Auto Sweep Works](https://cdn.zeebiz.com/sites/default/files/2024/07/25/306793-1-54.jpg)
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Enhanced Returns
![Enhanced Returns Enhanced Returns](https://cdn.zeebiz.com/sites/default/files/2024/07/25/306794-2-53.jpg)
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No Lock-In Period
![No Lock-In Period No Lock-In Period](https://cdn.zeebiz.com/sites/default/files/2024/07/25/306801-4-50.jpg)
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Activation via Internet Banking
![Activation via Internet Banking Activation via Internet Banking](https://cdn.zeebiz.com/sites/default/files/2024/07/25/306810-5-49.jpg)
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Activation via YONO App
![Activation via YONO App Activation via YONO App](https://cdn.zeebiz.com/sites/default/files/2024/07/25/306812-6-42.jpg)
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Setting Threshold Limits
![Setting Threshold Limits Setting Threshold Limits](https://cdn.zeebiz.com/sites/default/files/2024/07/25/306814-9-24.jpg)