Best sweep in account in terms of overall experience and benifits.

[hgupta]

Which sweep in facility savings account is best in terms of no premature penalty, best interest rate, premium account and premium debit card benifits etc?
I have considered IDFC, HDFC, SBI, Kotak 811, Indusind and find IDFC good to consider. What do you guys think about these banks?

 

[helloworld]

best interest rate:
- kotak
- Indusind
- IDFC

premium account:
- kotak (10L - Privy)
- Indusind (10L - Pioneer)
- IDFC (10L - wealth)

premium debit card:
- IndusInd
- IDFC
- Kotak

---

u know sweep in useless facility for normal banking people (unless they're HNI or keep high amounts in accounts for liquidity purpose), but if u keep withdrawing and hoping sweeping gives extra interest, you're wrong.

https://www.kotak.com/en/rates/interest-rates.html

example:

if u want 7% u have to keep amount for 6 months, in that case do fd directly. because if u withdraw after 120 days its 4% on simple interest compared to almost same bank provided quarterly interest with 3% p.a.

 

[DK007]

Which sweep in facility savings account is best in terms of no premature penalty, best interest rate, premium account and premium debit card benifits etc?
I have considered IDFC, HDFC, SBI, Kotak 811, Indusind and find IDFC good to consider. What do you guys think about these banks?

Recently got multiple calls from HDFC RM to check if I am interested in Sweep in deposits. Earlier the calls used to be related to Mutual Funds and Savings + Insurance schemes.

Do banks give good commission / reward benefits to employees on selling such sweep in schemes?

 

[helloworld]

Recently got multiple calls from HDFC RM to check if I am interested in Sweep in deposits. Earlier the calls used to be related to Mutual Funds and Savings + Insurance schemes.

Do banks give good commission / reward benefits to employees on selling such sweep in schemes?

bank earn money when u keep it long time, as mentioned above to get better interest compared to savings u need to keep them longer in ur savings account. which u might not do with FD because u feel that money got locked but we're doing same here.