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Liquidating HDFC SavingsMax FD to get higher returns

ltf4ever

TF Legend
The auto sweep out facility in savingsmax had created many FDs for me in the last year, with a duration on 1 year.

from 1st Jan, the FD rates have increased.
Is there any way by which I can break the previous FDs, without any premature breaking penalty?
i plan to break the FDs and reinvest them with the new interest rates.

Savingsmax account says that the FDs will be automatically broken only in case there is a shortfall of funds in the savings accounts for making a transfer and only the difference will be liquidated (without any charge?).

one method that i can think of is: transfer a huge amount to my own account in another bank and then transfer it again to savingsmax.
i just want to know if this is the most efficient way or is there any other trick.
 
The auto sweep out facility in savingsmax had created many FDs for me in the last year, with a duration on 1 year.

from 1st Jan, the FD rates have increased.
Is there any way by which I can break the previous FDs, without any premature breaking penalty?
i plan to break the FDs and reinvest them with the new interest rates.

Savingsmax account says that the FDs will be automatically broken only in case there is a shortfall of funds in the savings accounts for making a transfer and only the difference will be liquidated (without any charge?).

one method that i can think of is: transfer a huge amount to my own account in another bank and then transfer it again to savingsmax.
i just want to know if this is the most efficient way or is there any other trick.
By doing this you will incur 1% less rate than actual for your current fd age.
You need to first look if the fd rate is more than 1% and then decide by doing some calculations.
 
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