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Linking your FD to your Savings Account: What you need to know
Posted on Sunday, November 19th, 2023 | By IndusInd Bank
In the intricate tapestry of personal finance, every strategic move can significantly impact your financial well-being. One such decision worth exploring is the integration of your Fixed Deposit (FD) with your Savings Account. In this comprehensive blog, we will delve into the concept, enumerate the benefits, and shed light on the innovative “sweep in sweep out” feature.
Understanding FD Linking with Savings Account
Linking your FD with your Savings Account is more than a mere consolidation of accounts; it’s a financial strategy aimed at optimizing the utility of both instruments. This integration empowers you to make your money work smarter for you.
Benefits of Linking FD with Savings Account
1.Smart Sweep Feature: The Indus Max Multiplier Savings Account, boasting a modest balance requirement starting as low as Rs. 10,000, introduces the innovative Smart Sweep feature. This functionality automatically converts any excess balance above a specified threshold limit of Rs. 20,000 in your Savings Account into Fixed Deposits. This not only safeguards your funds but also ensures higher interest earnings, maximizing your returns.
2.Intelligent Fill-Up: In the event of a debit causing a shortfall in your Savings Account, you can draw from a portion of the linked Fixed Deposit to cover the deficit. This seamless integration guarantees that your financial transactions proceed smoothly without incurring penalties or disruptions.
3.No Premature Closure Penalty: One of the standout features of the Indus Max Multiplier Savings Account is the elimination of premature closure penalties. Access your linked FD without additional charges, providing flexibility and ease of use.
Why choose Indus Max Multiplier Savings Account
Unlock unparalleled financial flexibility with IndusInd Bank’s Indus Max Multiplier Savings Account!
- Balance Requirement: Initiate your financial journey with a modest balance requirement of just Rs. 10,000.
- Smart Sweep Feature: Witness your surplus balance at work. Any excess over Rs. 20,000 is automatically converted into Fixed Deposits, ensuring optimal interest earnings.
- Intelligent Fill-Up: Experience seamless transactions as any shortfall in your Savings Account is intelligently covered by breaking a portion of the linked Fixed Deposit.
- No Premature Closure Penalty: Enjoy the liberty to access your funds without fretting about premature closure penalties.
- Digital Account Opening: Effortlessly open your account in just 4 simple steps without stepping foot in the bank. Complete the entire process, including Video KYC, from the comfort of your home—all you need is your PAN card.
- Choose Your Account Number: Personalize your banking experience by selecting an account number of your choice.
Conclusion
The strategic move of linking your FD with your Savings Account unlocks a myriad of benefits, ensuring that your money not only stays secure but also works harder for you. Embrace the future of banking with IndusInd Bank’s Indus Max Multiplier Savings Account, and step into a new era of financial possibilities.
Open Indus Multiplier Max Savings Account NOW!
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
