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Funds from Current/Savings Account are transferred to a Fixed Deposit whenever the balance in Current/Savings Account crosses above a specified threshold. This money is transferred back to Current/Savings Account whenever there is a short fall in Current/Savings Account balance. This allows customer to earn Fixed Deposit interest for part of the balance lying idle and at the same time enjoy liquidity in Current/Savings Account.
Eg:For example, you have an ActivMoney facility on your Savings Account whereby linked Fixed deposit is created for Rs.10,000.
You issued a cheque for Rs7,000. But the balance in the Savings Account is only Rs.2,000. Now the bank will deduct the balance Rs.5,000 from the FD linked to your Savings Account and draw down the amount to transfer it to your Savings Account. So, the cheque goes through.
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