Rainbow Savings - Sweep In / Sweep Out

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Rainbow Savings - Sweep In / Sweep Out

Rainbow Savings - Sweep In/Sweep Out ensures liquidity while maximizing returns by auto-transferring excess funds to FD. No idle money, only smart savings!

  • cheque availibilty
  • penalty for nonmaintenance
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Details for Rainbow Savings - Sweep In / Sweep Out

Rainbow Savings - Sweep In/Sweep Out seamlessly transfers excess funds from your savings to a fixed deposit for higher returns while maintaining liquidity. Enjoy automated fund management, optimal interest earnings, and instant access to money when needed, ensuring smart and hassle-free banking.

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Interest Rate

25 % P.A

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Withdrawal Limit

Not available

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Transaction Limit

Not available

Minimum Balance Required

  • 3,000/-.

Additional Benefits

  • Free Accident Insurance Coverage of Rs. 1 Lakh
  • Mobile Banking Facility is Available
  • No charges Closing charges for FD up to 14 days
  • Minimum balance to be maintained in Rainbow SB Account is Rs. 3,000/-. A penalty of Rs. 200/- plus GST will be levied for non-maintenance of minimum balance.
  • Sweep out to FD portion will be only in multiples of Rs. 10,000/- accumulated over the balance of Rs. 1,00,000/- at EOD every Sunday.
  • 90 Days will be the period of deposit. On the date of sweep out, only Simple Interest at the applicable interest rate will be payable.
  • Customers should provide address proof and ID proof in order to comply with KYC norms.
  • If closed within 1 year - Rs. 300/-, If closed at 1 year & after 1 year - Nil (as per BCSBI guidelines).

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