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With Kotak’s Sweep-In Facility, you can enjoy financial flexibility. Now never worry about running out of funds, all you have to do is link your existing Fixed Deposit to your Savings or Current Account. In case you are falling short of funds in your account the deficit will be withdrawn from your Fixed Deposit so you can enjoy financial peace of mind and live worry-free.
Enjoy liquidity by linking your
Fixed Deposits to Savings or Current Account
Earn applicable interest on the
money till it is swept-in the account
Only the principal amount of the
fixed deposit will be considered
for the Sweep-In facility
Multiple Fixed Deposits can be
linked to your Savings account
Only an exact amount required
to make up for the deficit in the
account is withdrawn from your
Fixed Deposit in the units of Re. 1/-
for convenience of getting
payments processed with ease
Avail Overdraft facility
against Fixed Deposit
The Sweep-In facility enables you to link your existing Fixed Deposit to your Current or Savings.
The Sweep-In facility helps you enjoy liquidity in your Savings account while earning high returns with the applicable interest rates of a Fixed Deposit.
The Sweep-In facility helps you enjoy liquidity in your Savings account while earning high returns with the applicable interest rates of a Fixed Deposit.
With the Sweep-In facility you can link your existing Fixed Deposit to the Savings/Current Account. Whenever there is a shortfall of funds in the Account to clear a cheque, we will utilize units of the Fixed Deposit to clear the cheque. On this utilized amount, you will earn a rate of interest for the period that the Fixed Deposit remained with the Bank at the applicable rate of interest at the time of booking the original Fixed Deposit. Your balance amount in Fixed Deposits will continue to earn the original rate of interest.
We have taken an example to illustrate how the Sweep-In facility works:
Mr. A has availed Sweep-In facility on his existing Fixed Deposit of Rs. 10,000/-.
Assuming on a particular day, the balance in his Savings Account is Rs. 1000/-, and he issues a cheque for Rs. 4000/- in his account and it has now come to the bank for clearing:
Kotak Bank will utilize the shortfall amount of Rs. 3000/- from the linked Fixed Deposit to the extent of Rs. 3000/- (4000/- minus 1000/-) and clear the cheque.
Yes, you can link more than one deposit to your Current/ Savings Account.
Manage emergencies with quick personal loans. These loans are provided with quick disbursals.
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By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.