
Banking
What is an FD Sweep-in Account and how does it work?
A sweep-in FD automatically creates FDs from your savings account when balance exceeds a threshold (e.g., every Rs1,000 above Rs25,000 is auto-swept into an FD). When you need money, FDs break in reverse LIFO order to fund the withdrawal. You earn FD rate on idle money while maintaining savings account liquidity.
RBI & Banking

