Sweep - In / Out Deposit

    IndusInd Bank offer Sweep out facility over a cut off limit in CA and SB accounts.  Similarly, the Term deposits would be closed and credited to the CA/SB account (Sweep-in) as and when it is required, with minimum interest loss to the customer.

Features & Benefits

    Balance over the specified amount maintained in the transaction account, will be automatically transferred to Term Deposit for a predetermined period, as per customer’s instruction. In case of insufficient balance in the CA/SB account at any point in time, required amount will be transferred to these accounts by breaking deposits to the benefit of the customer

    Minimum Deposit amount:

    • Savings Account- As per the account type held, refer to specific Savings Account product feature
    • Current Account- As per the account type held, refer to specific Current Account product feature

    Interest Rate: As applicable to Term deposits including Senior Citizen benefits

    TDS in Interest: Applicable to the Term deposits

    Deposit Tenor: 30 days to 24 months

    Nomination facility: Available

    Premature Closure: Allowed

Best For

    Individuals and Corporate who are getting continuous float in CA/SB

Documentation

    • Application form
    • Passport size photograph
    • Proof of Residence
    • Introduction

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