Sweep in facility in yes bank
Now suppose he has withdrawn Rs 5000 from his account then this withdrawal will decrease his saving bank balance from 20,000 to 15,000.
Sweep in and Sweep out facility is provided to all customers in the bank basing on their request.
The best part of auto sweep lies with the fact that you can withdraw more than the threshold limit.e the amount of cash available in your saving bank account.
Rohit have total accumulated funds of Rs 1 lakh in his bank account out of which 20,000 is lying in his saving account and rest is in fixed deposit account.75,000, the amount in excess.Where bank interlinks customers saving account with fixed deposit account and facilitate automatic transfer pokemon contest online game of extra funds from saving account to fixed deposit account to make you earn high rate of returns.So this must be answer to your question In case of investing our funds in fixed deposit how will we manage new england aquarium passes library in case of some cash emergency?
Will there be an option to transfer excess funds available in Senior Citizens Account to Fixed Deposit and earn higher rate of interest?
Mr Rohit enables auto sweep facility in his account with the threshold limit of Rs 20,000.
With this rather than earning saving bank interest.e 4 on his entire money Rohit start earning fixed deposit interest.e 10 on his funds above threshold limit.
Do you also have some idle cash in your bank account?
Threshold limit is the amount of cash you want to maintain in your saving bank account.Auto sweep, auto sweep facility offers combine benefits of both saving and fixed deposit accounts.Here the customer has to give an option how much funds he wants to transfer from his operative account to transfer the balance above the requirement to Fixed Deposit.After all spendings some cash remains idle in his bank every month.Lets have a look what Auto Sweep is and how can you take the benefit of this facility.
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