Where the sweep-in facility is an added feature to fixed deposit schemes, Flexi-deposit is, in itself, a separate scheme. Useful Article: COVID Crisis: Keep your cash handy – Later invest in FD Difference between Sweep-In Facility and Flexi Depositīoth facilities of sweep-in and Flexi deposit provide the same benefit of higher interest rates combined with liquidity.

Thus, it is important to properly analyse the features that the bank is offering.

However, some banks like the HDFC Bank terms this facility as Sweep-In. This means that if there is a deficit in the savings account, the deficit amount is transferred from the linked fixed deposit account to the savings account to remedy the shortage. To explain in layman terms, sweep-out is the exact opposite of sweep-in. Know More What is the Sweep-Out Facility?

Receive Confirmation: Once processed, the amount will be transferred to your linked bank account.Book SBM Bank FD & Get Lifetime FREE Step UP Credit Card.

Confirm Liquidation: Review the details and confirm your decision.

Select the FD to be Broken: Choose the FD account you wish to liquidate.

Navigate to the 'Online Term Deposit' Option: Look for the 'Break FD' or similar option here.

The FD amount along with the applicable interest (minus any penalties for premature withdrawal) will be credited to your linked bank account or given as a demand draft.

Receive Confirmation: The bank executive will process your request and provide a confirmation.

Submit Necessary Documents: Usually, the FD receipt or certificate is required.

Fill in the Required Details: Ensure all information, including your FD account number and personal details, is accurately filled out.Request for FD Liquidation Form: Ask for the FD premature withdrawal or liquidation form at the counter.Visit the Bank Branch: Head to the nearest Central Bank of India branch, where your FD account is held.

Hdfc fixed deposit liquidation charges