Can we apply to IPO via auto sweep FDs?

[cc enjoyer]

I want to apply under BHNI category on a account which has autosweep enabled above 2 lac rs.

Can I apply in BHni given that my saving account doesn't have this amount but it's available in liked auto sweep deposit account? Will bank break the autosweep into saving account first to honor the ASBA block amount?

 

[Tejo]

I want to apply under BHNI category on a account which has autosweep enabled above 2 lac rs.

Can I apply in BHni given that my saving account doesn't have this amount but it's available in liked auto sweep deposit account? Will bank break the autosweep into saving account first to honor the ASBA block amount?

Probably yes, depends upon bank too.

 

[j_s]

Works fine for ASBA.
Always fails for UPI.

 

[cc enjoyer]

Probably yes, depends upon bank too.

Any idea what banks allows it? I've read that icici allows it.