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?

 

[akilmds]

Anyone using IDFC OD against FD for IPOs?

 

[ParthaPrathim]

Hi all, is can RBL bank providing this feature? If yes what's the product name and how to do?

Thinking to do with either icici, or rbl. I have tested Icici it's able to, but wants to do from rbl it's provide more interest than icici if possible.

 

[keshavab]

Hi all, is can RBL bank providing this feature? If yes what's the product name and how to do?

Thinking to do with either icici, or rbl. I have tested Icici it's able to, but wants to do from rbl it's provide more interest than icici if possible.

Check with RBL , but if you want higher intrest rate then go for au

 

[Vickymaster1010]

Check with RBL , but if you want higher intrest rate then go for au

AU bank told me that the amount will be broken as soon as u aply for an ipo , not when u get it can u please let me know which branch u spoke with ?

 

[keshavab]

AU bank told me that the amount will be broken as soon as u aply for an ipo , not when u get it can u please let me know which branch u spoke with ?

Just ask them to open sweep in fd , they are not aware of this , i made my sweep in fd in bhopal mp nagar branch offline , they said they don't know about that much , but made that sweep in fd and I tested this it works

 

[keshavab]

Just ask them to open sweep in fd , they are not aware of this , i made my sweep in fd in bhopal mp nagar branch offline , they said they don't know about that much , but made that sweep in fd and I tested this it works

Also if you got allotment that comes mostly in night and amount get debited in morning, so if you fund your account before debit (or sometime after debit) you fd not even get broke in that case also

 

[Vickymaster1010]

Also if you got allotment that comes mostly in night and amount get debited in morning, so if you fund your account before debit (or sometime after debit) you fd not even get broke in that case also

Ok my branch said clearly that as soon as u apply for ipo and mandate is credited ur amount goes into lien and ur fd breaks even before the allotment is out.