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Is it possible to apply IPO using Sweep-in FD?

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J

Jack007

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I just was about to make a FD and also did apply for few IPO's recently. So this thought came to my mind if we can use the Sweep-in Fixed Deposits to Fund IPO's? I tried searching for it but could only find on HDFC's website that they don't allow it. Does anyone have any experience with it or any ideas if other banks allow it or not?
 
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specialspy said:
App bro
tried net banking yesterday it shows
Transaction not allowed as the holding pattern of Term Deposit is different from account to be linked [83026]
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In app, it seems that the linked FD facility removed. I checked in netbanking and it is available.

Netbanking - open FD for some amount (10000) - click accounts & deposits- scroll down - In deposit click Link FD to account - deposits-link a fixed deposit to saving account - sellect fixed deposit- select account to link- submit.
 
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KGSIPO said:
In app, it seems that the linked FD facility removed. I checked in netbanking and it is available.

Netbanking - open FD for some amount (10000) - click accounts & deposits- scroll down - In deposit click Link FD to account - deposits-link a fixed deposit to saving account - sellect fixed deposit- select account to link- submit.
Click to expand...
Hi, Thanks. I was looking for something like this...

can you tell me what is the difference between linked fd and activmoney in Kotak ?
 
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For ICICI - do we need to have 3-in-1 trading & Demat facility with ICICI for availing the sweep-in FD for IPOs or can I link any discounted broker like Zerodha and create UPI mandate tied up with ICICI account and its sweep-in FD?
 
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KGSIPO said:
If you activate the activmoney, fd will get opened automatically if the money is saving account cross a threshold. In linked fd, fd opening done manually
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I recently opened an FD and linked it to my savings account. However, within a couple of days, the amount was swept out.
Could you clarify the minimum balance that needs to be maintained in the savings account to prevent the FD from being swept out?
I reached out to customer care, but they weren’t helpful and mentioned that it’s the same as ActivMoney.
 
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akilmds said:
I recently opened an FD and linked it to my savings account. However, within a couple of days, the amount was swept out.
Could you clarify the minimum balance that needs to be maintained in the savings account to prevent the FD from being swept out?
I reached out to customer care, but they weren’t helpful and mentioned that it’s the same as ActivMoney.
Click to expand...
10000 amount minimum
 
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It is mentioned on AU bank website ASBA page that it supports sweep in FD to apply for ASBA. Have any one tried AU Bank. Does it support both Sweep In FD and Linked FD to saving account for applying IPO
 
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nipunsinghal said:
It is mentioned on AU bank website ASBA page that it supports sweep in FD to apply for ASBA. Have any one tried AU Bank. Does it support both Sweep In FD and Linked FD to saving account for applying IPO
Click to expand...
You cannot create linked fd online. You have to call customer care and give a request for linking fd
 
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