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Disable sweep deposits

vysakh

TF Premier
VIP Lounge
Does anyone know how to disable sweep deposits being created, online? I had done a quick navigation through the settings and did not find an option that looked to be disabling it.
Looking for solutions on SBI and kotak.
 

Akashgod

TF Premier
VIP Lounge
What exactly are sweep deposits?
I've also seen similar in my mom's ICICI account.
Sweep is different in different banks.
In icici there's something called linked FD.
In hdfc it's different on set amount above a certain threshold.. money sweeps in multiples of 25k to FD account. This comes with 1 negative thing I.e prematurely break charges.
 

Souvik

TF Premier
A RM somehow convinced me to open an additional auto sweep account in HDFC some years back, which I sort of bought into.

After some time with all the challenges with that, I finally decided to get that additional account closed, to get rid of the mess. I now do my own FD's now as per my Terms and Conditions.
 
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