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Sweep in/sweep out Account

Sweep in/sweep out

  • Make smarter choices when it comes to growing your investments

  1. Personal
  2. Deposits
  3. Sweep In/Sweep Out

Overview

IndusInd Bank’s sweep in/sweep out deposit facility ensures that your funds are safe and liquid and readily available for any urgent financial needs at zero cost. This type of deposit account is most suitable for individuals and corporates who are getting continuous float in CA/SB.

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 Tenure: 30 days to 24 months

Nomination facility: Available

Premature Closure: Allowed

Sweep in/sweep out Benefits

Benefits of Sweep in/sweep out Account

With IndusInd Bank’s sweep in/sweep out facility, an automatic transfer of funds goes to term deposit for a specific period. In case of insufficient balance in the CA/SB account, the required amount will be transferred by breaking deposits:

  • Minimum deposit amount:
    Savings account: As per the account type, refer to the specific savings account product feature.
    Current account: As per the account type, refer to specific current account product feature.
  • Interest rate: As applicable for term deposits including the benefits of senior citizens.
  • TDS on interest: Applicable to term deposits.
  • Deposit tenure: 30 to 24 months
  • Nomination facility: Available
  • Premature closure: Allowed

Please click here for interest rates.

You can open a sweep in/out deposit by visiting a nearby branch and submit the deposit account form.

Sweep in/sweep out Eligibility Criteria

Eligibility

Sweep In/ Sweep Out can be applied by individuals and corporates who are getting continuous float in CA/SB.

Documentation
  • The application form.
  • Passport-size photo.
  • Identity proof such as passport, Aadhaar, driving license, government ID, senior citizen ID or PAN card.
  • Address proof such as passport, telephone bill, electricity bill, bank statement with cheque.
  • Introduction by an existing IndusInd Bank customer.

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FD Rate FD Rate
FD Rate
Regular Fixed Deposit

up to 7.25% interest p.a

Senior Citizen

up to 8% interest p.a

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