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

[Jack007]

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?

 

[Jack007]

Hi jack...can u tell me how u use icici account for ipo . Do u use money multiplier for that?

Yup, Money multiplier helps to apply for IPO and also earn interest through the year

 

[ssnthegenius]

Have you got any sme ipo in past?
I think retailers don't get sme ipo.

Allotted RNFI this month.. but application was from regular savings account 😋

 

[Ak Singh]

Allotted RNFI this month.. but application was from regular savings account 😋

Most of applies through savings account only.
Congrats.

 

[Blazebit]

Kotak, RBL, ICICI, Indusind allows

Hi bro how to avail this facility in RBL. I can't find any option for this

 

[KGSIPO]

Kotak doesn't allow, it closed my sweep deposit and transferred the amount to the savings account

No bro, Kotak has a linked FD Facility and I am using three of my kotak accounts to apply IPO using linked FD.

 

[KGSIPO]

Hi bro how to avail this facility in RBL. I can't find any option for this

I do not have RBL account but it definitely allows linked FD to apply IPO

 

[Jack007]

No bro, Kotak has a linked FD Facility and I am using three of my kotak accounts to apply IPO using linked FD.

Are you referring to ActivMoney?

 

[KGSIPO]

Are you referring to ActivMoney?

It's not Activmoney In net banking , you open a normal FD and there is a provision to make it linked FD. After linking, you can apply for IPO

 

[Stargod]

Can you guys tell me what is the minimum savings balance to be maintained for flexi FD in Indusind Bank & Yes Bank so that Flexi FD does not break?
@KGSIPO

 

[KGSIPO]

Can you guys tell me what is the minimum savings balance to be maintained for flexi FD in Indusind Bank & Yes Bank so that Flexi FD does not break?
@KGSIPO

Both banks have flexi FD and minimum balance depends on the type of the account you are having

 

[tanujsoni27]

Hey how can we find out if its not working for a particular bank??? If got allotment then can conclude it works but how you checked it's not working with HDFC?

doesn't let you apply, tried, any bank other than ICICI you know of?

 

[yash177]

Y

doesn't let you apply, tried, any bank other than ICICI you know of?

As per comments kotak active money, ICICI money multiplier, RBL and Indusind allows it seems .....I can vouch on ICICI and kotak they does.

 

[mihirjain9875]

From commet we find that ICICI , RBL. KOTAK ACTIVMONEY, INDUSIND BANK allow to apply IPO against LINKED FD

Can anyone confirm me that we can apply ipo through UPI Mandate against linked FD

ICICI provide through UPI but I don't know about other bank


So member can you confirm this please

 

[JigmeKhesar]

doesn't let you apply, tried, any bank other than ICICI you know of?

AU SFB has been mailing me promotional mails to use sweep in for IPO applications.