Fixed deposits earn higher interest rates than a general savings account. Fixed deposits do not generally allow flexibility for daily use. This is why the SBI Sweep-In FD offers just the right balance between returns and liquidity. Let’s understand what a Sweep In FD SBI is, how it operates, and why it might be an alternative for many account holders at the State Bank of India.
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| BANKS | GENERAL CITIZENS | SENIOR CITIZEN |
| SBI Bank FD Rates | 3.50% - 6.50% | 4.00% - 7.50% |
| ICICI Bank FD Rates | 3.00% - 6.90% | 3.50% - 7.40% |
| HDFC Bank FD Rates | 3.00% - 7.00% | 3.50% - 7.50% |
| PNB FD Rates | 3.50% - 6.50% | 4.00% - 7.30% |
| Axis Bank FD Rates | 3.00% - 7.00% | 3.50% - 7.75% |
| Yes Bank FD Rates | 3.25% - 7.75% | 3.75% - 8.25% |
| Kotak Mahindra FD Rates | 2.75% - 6.20% | 3.25% - 6.70% |
| Bandhan Bank FD Rates | 3.00% - 5.85% | 3.75% - 6.60% |
| Union Bank of India FD Rates | 3.50% - 6.50% | 4.00% - 7.00% |
| Indusind Bank FD Rates | 3.50% - 7.25% | 4.00% - 8.25% |
| Canara Bank FD Rates | 4.00% - 6.70% | 4.00% - 7.20% |
| Bank of Baroda FD Rates | 4.25% - 6.50% | 4.75% - 7.50% |
| IDFC Bank FD Rates | 3.00% - 6.50% | 3.50% - 7.00% |
| Indian Bank FD Rates | 2.80% - 6.10% | 2.80% - 6.85% |
| DBS Bank FD Rates | 2.50% - 6.50% | 2.50% - 7.00% |
| UCO Bank FD Rates | 2.90% - 6.10% | 3.15% - 6.60% |
| Bank of India FD Rates | 3.00% - 6.00% | 3.00% - 6.75% |
| IDBI Bank FD Rates | 3.00% - 6.25% | 3.50% - 6.75% |
| Central Bank of India FD Rates | 3.50% - 6.75% | 4.00% - 7.25% |
Sweep-In FD SBI is a special type of overdrawing facility in which a savings account and a fixed deposit account are opened. It is an account where every time the balance held in a SBI savings account exceeds a predetermined level, the surplus amount is automatically transferred to the FD. It allows you to earn interest as high as a fixed deposit on your money without liquidating it at any time. In other words, Sweep-In FD SBI helps manage liquidity while providing a return on money in an FD account.
Once you activate the sweep-in facility in your SBI account, your savings account will be linked to a fixed deposit. You can set a minimum balance, and any amount above this limit will be 'swept in' to a fixed deposit.
You keep a minimum balance of ₹50,000.
If your savings account balance becomes ₹70,000, SBI will rush and transfer ₹20,000 to the FD.
Since this FD earns higher interest than a savings deposit, it is more profitable.
You can also withdraw money at any time; the bank will break down the FD in reverse order (Last-In-First-Out) for only the amount required, ensuring that you do not lose interest on the total amount.
| Feature | Details |
| Tenure | 1 to 5 years |
| Account Required | SBI savings or current account |
| Minimum Balance | Usually starts from ₹25,000 |
| Transfer Unit | In multiples of ₹1,000 |
| Interest Rate | Same as SBI's standard FD rates |
| Withdrawal | Partial FD break without penalty |
| Eligibility | Savings/current account holders with ₹25,000+ |
Some of the key advantages of an SBI Sweep-In FD account include: earning better interest on idle funds, easy access during emergencies, and no penalty for partial withdrawals. An ideal way to strike a balance between liquidity and returns. Here are some of the key benefits explained:
Earning Better Interest Rates
Instead of letting your surplus funds lie idle in a savings account, the Sweep-In FD in SBI ensures that the funds are moved from the savings account into an FD to garner higher interest.
No Need to Break the Complete FD
Breaking only the required amount means the rest of the FD is left intact. Hence, you don't lose the interest on the entire FD.
No Charges
There are no fees, penalties, or any other charges for utilising the sweep-in facility or withdrawing funds from the FD.
Highly Liquid
Although your money is moved into an FD, you can access it easily anytime that you need, just like your savings account.
Perfect for Business Owners
Those running a business with current accounts are spared overdraft charges. The money that is being swept in, meanwhile, earns interest and is ready for use.
Activating this facility is quick and easy via SBI NetBanking, and you can also activate the sweep-in facility by visiting your nearest SBI branch.
Here are some steps to activate the sweep-in facility using NetBanking for SBI Sweep-In FD online:Log in to your SBI NetBanking account.
Go to the ‘Fixed Deposit’ section.
Select ‘FD Sweep-In’.
Choose the savings account and the FD you want to link.
Set the minimum balance limit for the savings account.
Confirm your selections and submit.
Let’s understand SBI Sweep-In FD with a simple example:
Ms. Aditi maintains a savings account with SBI and has enabled the sweep-in facility. She sets ₹40,000 as her minimum balance.
On a certain day, her account balance is ₹25,000.
She receives ₹30,000 via a cheque deposit, increasing the balance to ₹55,000.
Since the balance exceeds the limit by ₹15,000, SBI automatically transfers ₹15,000 into an SBI fixed deposit.
This ₹15,000 now earns FD interest, but Aditi can still access it if needed.
Sweep-ins happen in ₹1,000 multiples only.
The interest is calculated based on the FD tenure of the swept-in amount.
Withdrawals happen on a Last-In-First-Out (LIFO) basis.
If your account is not eligible, you may be required to upgrade to a premium account or maintain a higher minimum balance.
A Sweep-in FD SBI is an intelligent way to grow your idle money while retaining the flexibility of a savings account. It is especially useful for salaried individuals, freelancers, and business owners who often maintain a buffer in their bank accounts.
With SBI’s sweep-in FD, your extra money keeps growing on its own instead of just sitting idle in an account. If you haven’t yet activated this facility, consider doing it today through SBI NetBanking or by visiting your branch.
You need a minimum balance of ₹25,000 in your savings or current account to enable sweep-in.
Yes. SBI will automatically break only the required portion of your FD.
Yes. The interest is the same as any standard SBI FD, based on the tenure.
Yes. The sweep-in threshold limit may be set or changed through SBI NetBanking or the home branch of the bank.
Yes. The sweep-in facility is available for joint accounts; all account holders need to give their consent and fulfil eligibility criteria as per SBI’s policy.
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