Savings accounts also pay interest. It's a very modest interest. Typically, banks provide savings accounts with interest rates between 2.5% and 4%. However, you must visit the bank and perform a little task if you are one of those people whose pay is deposited into their savings account or if there are hundreds and millions of rupees in it at all times. You will begin to reap the benefits of FD on a savings account with this, meaning you will undoubtedly make a substantial profit.
The money must be placed into the FD for a specific amount of time after you receive it. You must pay a penalty if you violate the FD in the interim. However, you are not subject to any such limitations because this FD has been placed in the savings account. Money can be taken out of your account at any moment.
- Clicking on the "More" option from the drop-down menu will open the auto sweep facility page. Click on its link here.
- After this, select the account in which you want this feature and fix your amount. Here you will also have to select the time frame of deposit.
- After this, click on OK and submit it. You will have to enter OTP or transaction PIN/password here. Your bank will enable this service in the next few working days.
- Go to the mobile app and open the option of "e-fixed deposit" from the menu.
- Here, select the option of multi-option deposit from the menu and select the account in which you want to enable the feature.
- Submit. After this, you will be asked to enter an OTP or transaction PIN/password. After the process is completed by the bank, this feature will be enabled in your account.
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