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

[hgupta]

Fair enough, Question is - to avoid multiple FD creation -
Suppose I activate first time Sweep in today and got Account no SWFD0001 with initial amount say 1 lakh for 444 days, now till it will not used completely, any subsequent addition will park only into this, and till the time 1 Rs left, any withdrawal took place from this Only !!!

Default setting is 1 year and I think you can't change it, after 1 year it will automatically re invest for 1 more year and so on. No addition in amount can be made in already created sweep in FD. If your money exceeds in savings account, it will create a new fd account number.

 

[akiratoriyama]

IOB also has sweep in facility, seems to work well automatically

 

[rishi4]

How's hdfc?
And does it also create multiple fds on withdrawal, reflecting in multiple fds while filing itr?