SBI MOD Minimum Threshold Limit for Auto-Sweep Facility Increased to INR 50,000

[✪ D&C Cards Connoisseur 💳]

SBI has increased their minimum threshold limit for auto sweep facility of MOD for Savings Accounts to INR 50,000 from INR 35,000.
This means now MOD based FD will be created once Savings Account cross INR 50,000.

 

[fin_avid]

was it 35K earlier? was it not 25K??? for me every MOD ll be triggered with 25K in account balance...
similarly KMBL have also increased the threshold to 50K...

 

[✪ D&C Cards Connoisseur 💳]

was it 35K earlier? was it not 25K??? for me every MOD ll be triggered with 25K in account balance...
similarly KMBL have also increased the threshold to 50K...

For me also it was 25K instead of 35K. But SBI CC told over call now it's revised to 50K, not sure though.

 

[fin_avid]

For me also it was 25K instead of 35K. But SBI CC told over call now it's revised to 50K, not sure though.

ya they have revised it seems.. have to verify tat next month oly.. got a mail like OP have received..

 

[rishi4]

Hi guys
Have some questions
I've recently opened sbi account (salary via my employer) and I want to utilise the auto sweep feature
I've heard some people getting ITD notices due to multiple new FDs created due to auto sweep feature? Can you pls help on same
How does this work actually, I'm a little confused.
As per the 50k limit if my account has 60k then 10k will be used to create a new FD? And account will be left with 50k?
In case of shortfall if account is at 20k then this 10k will again be broken from FD and credited to account ?
Need some clarification.
Which will be better monthly / weekly?
Is there any penalty?
Any other things to keep in mind
Thanks in advance