Hi Everyone. Hope you are are fine and doing well. So, today we are here to discuss about sweep account. Now a days sweep account is gaining huge popularity and people are switching towards it. If you are having a fixed account and want to convert it to sweep then you are at the right place. Anyone can be in need of money anytime and anywhere. In this scenario, we have one of the option to break our FD if our saving is not enough. And breaking leads to penalty and it deducts some charges. So, what is the best option is that instead of breaking it, convert it to sweep account. It is as easy as other banking stuffs. You can also do with net banking. So, go through the complete post: How to Move HDFC FD Account to Sweep Account Online?
What is Sweep-in?
Sweep-in is withdrawal from other account or deposit that helps protect the connected account in case of insufficient funds.
How to Move/Convert HDFC FD Account to Sweep Account Online?
We have explained below with the help of mobile banking. Online banking is another option and it is also same.
So, follow below steps:
- First of all open HDFC Bank mobile application on your smartphone. HDFC Bank app.
- After entering PIN, it will show your dashboard. It will also show Fixed Deposit accounts.
- Next, click on Fixed Deposits. It will list all FDs associated with your account. Select FD account which you want to convert it to Sweep.
- Clicking on it, you will come across a option “Use to Protect- Use deposit to protect against insufficient funds in your current/saving account“. Select this option and click on Continue.
- Now, you will get two option i.e. Super Saver and Sweep in. Select Sweep-in and accept the terms and conditions. After accepting, click on Protect Account.
- You will receive the acknowledgement of it. So, whenever there is insufficient fund in your saving, fund will move from here and will protect from insufficient fund issue.
How to Transfer HDFC Bank Account?
Frequently Asked Questions (FAQs)
Can I do it online?
Yes, you can.
How much time it takes?
It is a immediate process.
Is there any charge?
No
How to update nomination online?
So, follow this guide: View/Update Nomination Details in HDFC Bank Online
Can I do it via net banking?
Yes, you can.
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