![]() Basics of Auto Sweep AccountĪuto Sweep Bank account can be defined as a combination of a Savings account and a Fixed Deposit account. This article will discuss the Auto Sweep Bank Account, how does an Auto Sweep bank facility works, and other terms related to Auto Sweep Bank Accounts. With the Auto Sweep facility, one can have the ease of withdrawing money combined with a higher rate of interest on fixed deposits linked with the savings account. Auto Sweep Bank facility is one such easy and simple investment activity provided by banks that converts your savings bank deposits into fixed deposits, thus generating a more significant percentage of interest.Īuto Sweep bank facility is most recommended for people who want to earn more interest on their savings bank deposits. In search of such opportunities, they often turn to more complicated investments and ignore the simple and easy ones. Today, people search for the best and risk-free investment opportunity to earn them a lot of profit in less time. ![]() People must be aware that money kept idle in a savings account never grows, and it hardly earns an interest of 4% on average. But, these deposits yield a lesser interest as compared to that of stocks, debentures, etc. All these developments in the banking systems have opened a lot of risk-free investment opportunities for the public, such as Fixed deposits, Recurring Deposits, Savings account deposits, etc. Today, we can operate our bank accounts simply sitting at home or anywhere in the world. What Is Auto Sweep Bank Account: Banking facilities in modern times have seen an enormous number of developments. ![]()
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