What is ActivMoney (Auto Sweep Out

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ActivMoney is a facility of automatically sweeping out funds above a threshold from your Current / Savings Account to a Fixed Deposit (FD) Account for 180 days. In case of insufficient balance in your account, the FD will be broken prematurely and the required amount will be transferred to your account. This facility will allow customers to earn additional interest on their savings. For NRE accounts, FDs booked will be for a period of 1 year.

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What is ActivMoney (Auto Sweep Out – Sweep In Facility)?