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Watch your savings grow with Auto-Sweep facility

Earn higher returns on idle funds
Automatic fund management
Flexible sweep-in mechanism

Open an Account

Each depositor is insured up to ₹5 lakh by DICGC,
a subsidiary of the RBI.

Compare Savings A/c Interest

Balance you maintain in your account

₹10K ₹5Cr

Interest payout by other bank

p.a. paid quarterly

1.5% 3.5%

You will earn

₹63,248 more yearly

with IDFC FIRST bank

Yearly Interest from your bank

₹60,678

Yearly Interest from IDFC FIRST Bank

₹1,23,926

Open Account Instantly Disclaimer

	Your bank	IDFC FIRST bank
Payout cycle	Quarterly	Monthly
Int. earned	₹ 60,678/yr	₹ 1,23,926/yr

You’ll earn ₹63,248 more per year through IDFC First savings account!

You’ll earn ₹63,248 more per year

See how this gets calculated?

Interest slabs used for rate comparison:

2.50% p.a. for

<=₹3L

7.00% p.a. for

> ₹3L <= ₹25L

Interest will be calculated on progressive balances in each interest rate slab, as applicable.

View all interest rate slabs

Auto Sweep facility

Open an IDFC FIRST Bank Savings Account with Auto-Sweep facility and watch your savings grow rapidly. With the Auto-Sweep facility, your idle funds in the savings account will be automatically transferred to a Fixed Deposit. If the balance falls below the required Average Monthly Balance of ₹25,000, funds are auto-transferred back into your Savings Account. Plus, enjoy monthly interest credits and full-suite Savings Account Services like IMPS, RTGS, NEFT, cash deposits, cheque book re-issuance, SMS alerts, etc.

Smart Auto Sweep

Surplus funds in the savings account are auto-transferred to you linked fixed deposit for better returns.

Know more

Higher FD Returns

Idle funds earn fixed deposit interest rates instead of standard savings rate, maximising your returns.

Know more

Liquidity

Your money remains accessible easily to you, ensuring you can use it whenever required.

Higher Interest Earnings

Enjoy competitive interest rates up to 7% p.a. on your savings to help your money grow faster.

Monthly Interest Credits

Receive interest credited every month, giving you more frequent returns on your savings.

Funds Access

If balance falls below ₹25,000 AMB threshold, funds are auto-transferred back into savings account.

Easy management

Once set up, your funda are automatically managed, so you earn better returns without extra effort.

How does Auto Sweep facility work?

The Auto Sweep facility at IDFC FIRST Bank enables automatic transfer of the extra money in your savings account into a fixed deposit (FD) so you earn higher interest while keeping your funds accessible.

Set your balance limit

You set a threshold balance (a minimum amount you want to keep in your savings account).

Excess funds move to FD

Any amount above the limit is swept into a Fixed Deposit daily, earning FD interest.

Funds sweep back automatically

If you need money later and your savings balance is low, funds are swept back from the FD automatically.

How to activate Auto Sweep facility?

Here is how you can activate sweep transfer:

Visit a branch

Visit your nearest IDFC FIRST Bank branch and opt for Auto Sweep.

Submit the form

Complete the form fill-up and submit supporting documents as asked.

Activate Auto Sweep

Bank staff will set up the facility for your savings account.

Interest Rates on IDFC FIRST Bank Savings Accounts

With an IDFC FIRST Bank Savings Account, earn interest of up to 7% p.a., calculated on the daily balance and credited monthly, helping your savings grow steadily.

Know More

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Auto Sweep Facility FAQs

What is a Savings Account with Auto-Sweep facility?

A Savings Account with Auto-Sweep facility is a product that combines the benefits of a traditional savings account with those of a fixed deposit. In such a savings account, balance above the predetermined threshold limit is automatically transferred to a fixed deposit to help you earn higher interest on your funds. IDFC FIRST Bank offers an Auto-Sweep Savings Account, allowing you to earn more on your surplus funds without having to compromise on liquidity.

How will the auto-sweep facility function?

Whenever the balance in the Savings Account goes above ₹50,000, the balance above ₹50,000 will get auto swept-out to a Fixed Deposit as below:

• FD tenure - 370 days

• FD created in multiples of ₹1,00

• FD Creation frequency - Daily at end of day

• Maturity instruction of FD – Auto renewal

• Max Single FD limit - ₹2.99 Cr

Whenever the balance in the Savings Account falls below the required Average Monthly Balance i.e., ₹25,000, funds from the Fixed Deposit will be transferred to the Savings Account to always maintain ₹25,000 balance in the Savings Account. Auto sweep-in will function as below:

• Sweep-in (FD Break) multiple of – ₹1

• FD Breaking method – Last in First Out (LIFO)

• Auto Sweep facility on a savings account without PAN will not be offered

• Pre-mature FD break Penalty - No Penalty

• Minimum Sweep in limit for linked SA - FD sweep in is activated once SA balance falls below min. AMB i.e., ₹25,000

How can I open an IDFC FIRST Bank Auto-Sweep Savings Account?

You can open an IDFC FIRST Bank Auto-Sweep Savings Account by simply walking in to your nearest IDFC FIRST Bank bran

Did you know? IDFC FIRST Bank offers Monthly Interest Credits on Savings Account, as against quarterly interest payouts offered by most banks.

Who is eligible to open an Auto-Sweep Savings Account?

To be eligible for the IDFC FIRST Bank Auto-Sweep Savings Account, you should be above 18 years of age and belong to one of the below categories:

• Indian citizens

• Residents of India

• Foreign nationals residing in India and meeting the Government of India criteria

What is the Average Monthly Balance I would be required to maintain in an IDFC FIRST Bank Savings Account with Auto-Sweep facility?

The Average Monthly Balance (AMB) you need to maintain in an Auto-Sweep Savings Account is ₹25,000.

Will I be charged any fees/penalty for non-maintenance of Average Monthly Balance in the Auto-Sweep Savings Account?

Yes, there are nominal charges levied for not maintaining Average Monthly Balance on your Savings Account. Click here to know more about the applicable non-maintenance charges on your Savings Account.

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Watch your savings grow with Auto-Sweep facility

with IDFC FIRST bank

with your bank

Auto Sweep facility

Features & Benefits of Auto Sweep facility

Smart Auto Sweep

Higher FD Returns

Liquidity

Higher Interest Earnings

Monthly Interest Credits

Funds Access

Easy management

How does Auto Sweep facility work?

Set your balance limit

Excess funds move to FD

Funds sweep back automatically

How to activate Auto Sweep facility?

Visit a branch

Submit the form

Activate Auto Sweep

Interest Rates on IDFC FIRST Bank Savings Accounts

Our Award-Winning Digital Platform

Auto Sweep Facility FAQs

What is a Savings Account with Auto-Sweep facility?

How will the auto-sweep facility function?

How can I open an IDFC FIRST Bank Auto-Sweep Savings Account?

Who is eligible to open an Auto-Sweep Savings Account?

What is the Average Monthly Balance I would be required to maintain in an IDFC FIRST Bank Savings Account with Auto-Sweep facility?

Will I be charged any fees/penalty for non-maintenance of Average Monthly Balance in the Auto-Sweep Savings Account?

Explore Our Savings Account Blogs

Understanding High Interest Savings Accounts in India

How to Save Money on Your Next Trip Using Debit Card Offers

Why You Should Build a Shopping Fund Before the Sale Season Ends

The importance of having a nominee for your bank account

Cash Deposit Limit in Savings Account: Rules, Limits & More

All you need to know about a Kids Savings Account

Savings Account vs Fixed Deposit: How do they differ?

Debit Card - Debit card Meaning

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