FD Sweep account with low threshhold amount

[bhaveshsharma03]

Hi, have a Kotak 811 account which has Rs 25000 threshhold for sweep into FD (Kotak calls it ActiveMoney).
I am looking for one more such account with threshhold as low as possible (some banks have a threshold of 1-2 lakh which is pretty high).

 

[palen]

I would like to know as well.

 

[plastikman]

My Kotak account shows threshold amount of 3 lakhs.

 

[bhaveshsharma03]

My Kotak account shows threshold amount of 3 lakhs.

I guess different accounts have different thresholds? Kotak 0 balance online account has 25k as threshold.

 

[plastikman]

I guess different accounts have different thresholds? Kotak 0 balance online account has 25k as threshold.

But one should be able to modify the threshold as per one's requirements.

 

[AritraSaha]

Paytm payment bank
After 1k it's create fd, no break charges, But intrest is bit lower.

 

[rp0703]

Hi, have a Kotak 811 account which has Rs 25000 threshhold for sweep into FD (Kotak calls it ActiveMoney).
I am looking for one more such account with threshhold as low as possible (some banks have a threshold of 1-2 lakh which is pretty high).

My kotak activmoney threshold is 5k. You can mail from net banking and ask them to reduce the threshold.

 

[kjs]

My kotak activmoney threshold is 5k. You can mail from net banking and ask them to reduce the threshold.

This is interesting, i think there are no charges if the amount gets sweeped out ? SBI also provides the same

 

[rp0703]

This is interesting, i think there are no charges if the amount gets sweeped out ? SBI also provides the same

No charge.

 

[brightknight]

Can we manually sweep out funds too without any charges? I mean prior to issuing cheques or DD order?

I read earlier that there is some charges and if one frequently draws out money then interest earned is lower than that with even savings account.

 

[chdguy1980]

SBI Saving Plus account. Threshold of 10K

 

[abhijeetk]

I have few query regarding activemoney
1- All the amount above threshold onvert to FD , So what will happen if during the tenure
i didnt take out amount ,will it again convert to a new tenure once previous is over including the interest amount ?