4 replies on this article “Is there any catch in auto sweep facility?”

1. ashalanshu says:

   March 21, 2014 at 9:56 am

   Dear Anurodh, please read my reply above and decide. if you are still in doubt, you may ask for more clarification from your bank.

   Thanks

   Ashal

   Reply
2. anurodh says:

   March 20, 2014 at 10:07 pm

   Dear Ashalanshu, by catch I mean to say, are there any hidden charges, because why the banks gives so much high % of interest.
   There is no free lunch.

   Reply
   1. jibi says:

      April 4, 2014 at 9:46 am

      Dear Anurodh,
      The only “catch” is a small interest loss on the enhanced savings balance required for converting normal savings a/c to auto sweep a/c. If there is no such requirement in a particular bank, then, probably there is no “catch”!
      Thanks
      Jibi

      Reply
3. ashalanshu says:

   March 20, 2014 at 6:11 pm

   Dear Anurodh, what do you mean by catch? if you park the amount more than the cut off limit, it ‘ll be converted into FD. The moment the basic balance comes down below cut off limit, these FDs ‘ll be break down automatically. Where do you think, the catch may be?

   Thanks

   Ashal

   Reply

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