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Go For Auto-Sweep and Earn Extra Interest on your Savings in Bank

Postby JASPREET » 09 May 2023, 04:46

Auto Sweep is an option given by All banks, at least in India where you are directing your bank to use your extra savings in a virtually new account and they pay you a better rate of interest on these. I have done that in one of my banks and in that account every amount above Rs. 50,000 will be moved to that virtually new account and I will be getting more interest on it but in case I need to spend on something urgently I don't need to visit the bank and can pay like I would have paid if I haven't opted for this option so it works automatically and a good option for those that like to have a bigger deposit in a savings account so you will be saving and earning extra interest with this. <3 :thumbup:
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Re: Go For Auto-Sweep and Earn Extra Interest on your Savings in Bank

Postby Vehlijanta » 09 May 2023, 15:56

I didn't know this. From where you get to know about this
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Re: Go For Auto-Sweep and Earn Extra Interest on your Savings in Bank

Postby JASPREET » 11 May 2023, 08:41

I am having this option in my bank and its available in all banks
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Re: Go For Auto-Sweep and Earn Extra Interest on your Savings in Bank

Postby Nsikan » 15 May 2023, 06:51

We don't have that kind of feature in my home country.
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