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?

 

[KGSIPO]

Man Really Can You Explain bit I have been trying but unable to

are you doing in app or net banking

 

[specialspy]

are you doing in app or net banking

App bro
tried net banking yesterday it shows
Transaction not allowed as the holding pattern of Term Deposit is different from account to be linked [83026]

 

[KGSIPO]

App bro
tried net banking yesterday it shows
Transaction not allowed as the holding pattern of Term Deposit is different from account to be linked [83026]

In app, it seems that the linked FD facility removed. I checked in netbanking and it is available.

Netbanking - open FD for some amount (10000) - click accounts & deposits- scroll down - In deposit click Link FD to account - deposits-link a fixed deposit to saving account - sellect fixed deposit- select account to link- submit.

 

[rakhi]

Y

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

How rbl bank? Pls tel me

 

[rakhi]

How many applications I can apply for 1 ipo in icici app?

 

[akilmds]

In app, it seems that the linked FD facility removed. I checked in netbanking and it is available.

Netbanking - open FD for some amount (10000) - click accounts & deposits- scroll down - In deposit click Link FD to account - deposits-link a fixed deposit to saving account - sellect fixed deposit- select account to link- submit.

Hi, Thanks. I was looking for something like this...

can you tell me what is the difference between linked fd and activmoney in Kotak ?

 

[KGSIPO]

If you activate the activmoney, fd will get opened automatically if the money is saving account cross a threshold. In linked fd, fd opening done manually

 

[wuodland]

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

my friends got a few that they applied via this same kotak activ. personally me, none. applied around 50-70 in past 12 months

 

[KGSIPO]

Does linkdin fd and activ fd both allow for applying ipI

I do only linked fd only

 

[KGSIPO]

Does kotak linkdin fd and money multiplier both allow to block money for ipo without blocking the fd amount ?

Yes yes yes

 

[financewizard]

For ICICI - do we need to have 3-in-1 trading & Demat facility with ICICI for availing the sweep-in FD for IPOs or can I link any discounted broker like Zerodha and create UPI mandate tied up with ICICI account and its sweep-in FD?

 

[akilmds]

If you activate the activmoney, fd will get opened automatically if the money is saving account cross a threshold. In linked fd, fd opening done manually

I recently opened an FD and linked it to my savings account. However, within a couple of days, the amount was swept out.
Could you clarify the minimum balance that needs to be maintained in the savings account to prevent the FD from being swept out?
I reached out to customer care, but they weren’t helpful and mentioned that it’s the same as ActivMoney.

 

[KGSIPO]

I recently opened an FD and linked it to my savings account. However, within a couple of days, the amount was swept out.
Could you clarify the minimum balance that needs to be maintained in the savings account to prevent the FD from being swept out?
I reached out to customer care, but they weren’t helpful and mentioned that it’s the same as ActivMoney.

10000 amount minimum

 

[nipunsinghal]

It is mentioned on AU bank website ASBA page that it supports sweep in FD to apply for ASBA. Have any one tried AU Bank. Does it support both Sweep In FD and Linked FD to saving account for applying IPO

 

[KGSIPO]

It is mentioned on AU bank website ASBA page that it supports sweep in FD to apply for ASBA. Have any one tried AU Bank. Does it support both Sweep In FD and Linked FD to saving account for applying IPO

You cannot create linked fd online. You have to call customer care and give a request for linking fd

 

[nipunsinghal]

You cannot create linked fd online. You have to call customer care and give a request for linking fd

Have you tried linking FD to Saving using customer care in AUBank?

 

[Jatayu]

You cannot create linked fd online. You have to call customer care and give a request for linking fd

2nd statement is wrong. Customer care said linking can't be done through call either. Have to physically go to branch for signing fd link form.

 

[Jatayu]

Have you tried linking FD to Saving using customer care in AUBank?

Just tried for both Rbl & AU. But both denied & said, go the branch for signing the FD link form

 

[keshavab]

For my case i have created 15k Au bank sweep in FD through branch and i used that money to apply for ipo using au bank mobile baning asba
and yes i got allotment some time ,
but i funded account from other account before amount get deducted so that my FD not break
i am happy with this
i also have Kotak (I first created 130k FD and liked to my account using kotak netbanking, i requires 20k to be in saving for me is it for all??) total 150k for SME ipo , but never got alloment due to high competation
being small finance bank , au have higer fd rate but due to brach vist it beccome complicated, is there any option to do this online?
kotak have that 20k saving balance problem , can some have solutuion for this ?

But now i was thinking for Slice Bank account for third party IPO using saving(Repo rate ) or FD (if it supports ) , can somebody help??
also i heard from some thread (ICICI : Kotak, Yes Bank, RBL, IndusInd, AU SFB offer this facility.)
please let me know if some other bank have this facilty , i personly tested axis,hdfc,sbi they not support?

this system is very good
FD ka fd aur ipo ka ipo ,dum dum, win win

 

[fenys]

Hi.. Anyone here, using Yes Bank for FD sweep in ??