Author Archives: Ram kadam

Free Earn Money By using your savings account Every bank provide “Sweep-In Facility”A Sweep-In facility, also known as an auto sweep facility, is a feature offered by banks that allows you to link your savings or current account with a fixed deposit (FD). Any excess amount in your account above a specified threshold is automatically transferred to a fixed deposit, thereby earning a higher interest rate than a regular savings account.Benefits of a Sweep-In facility include:Higher Interest Rates: The surplus funds are moved to an FD, which generally offers higher interest rates than a regular savings account.Liquidity: Despite the funds being in an FD, they remain accessible. If you need the money, it can be automatically swept back into your account.Optimal Utilization: It ensures that your money is not lying idle in a low-interest savings account but is used optimally to earn higher returns.Convenience: The process is automated, saving you the hassle of manual transfers, and ensuring that your money is always working for you.No Minimum Balance Charges: Since the excess funds are automatically moved to an FD, you are less likely to fall below the minimum balance requirement and incur charges.Flexibility: You can usually set the threshold limit. Any amount above this limit will be transferred to the FD, allowing you to customize the facility according to your needs.Remember that the specific benefits and terms of a Sweep-In facility can vary between different banks, so it’s advisable to check with your bank for precise details.Every bank provides That facility.

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