CSB Bank Sweep in FD

What is the CSB Bank Sweep-in FD?

CSB Bank Sweep in FD facility sweeps any surplus above your limit into a fixed deposit. These FDs can be opened for tenures ranging from 7 days to 10 years. Your extra funds earn CSB Bank FD rates, while your savings account stays flexible. If you need money, only the amount is moved back, and the rest of the FD continues earning interest.

Key Features of CSB Bank Sweep in FD

Here are the key features of the Sweep in FD CSB Bank:

• Easy to Activate: The Sweep in FD can be activated via Net Banking, Mobile App, or at a branch.
• Flexible Settings: You can decide the sweep-in threshold (the minimum balance above which funds move into an FD) and select the tenure of your Flexi Fixed Deposit.
• Transaction Support: With CSB Bank Sweep in FD, funds are transferred back from your fixed deposit when the savings account balance is low. This ensures transactions are completed without shortfalls.

How to Activate the CSB Bank Sweep-in FD?

Applying for the Sweep in FD facility with CSB Bank is simple and available online and offline.

1. Online Activation

   You can easily activate the CSB Bank Sweep in FD online without visiting a branch. To proceed, follow the steps given below:

   • Log in to CSB Net Banking or App: Use your login credentials to access CSB Bank Internet Banking or the CSB Mobile+ App.
   • Go to the Fixed Deposit Section: Select the option for Fixed Deposits from the main dashboard.
   • Choose Sweep in FD: Pick the auto sweep or flexi deposit option under FDs.
   • Fill in Account and Deposit Details: Enter your savings account details, the deposit amount, tenure, and the sweep-in limit you want to set.
   • Verify and Confirm Setup: Check all details carefully, complete OTP verification, and submit the request.
   • Get Confirmation: You’ll be notified on your registered mobile number and email once the facility is activated.

2. Offline Activation

   You can also apply for the CSB Bank Sweep in FD facility by visiting your nearest branch. Follow these steps:

   • Visit the Branch: Go to the nearest CSB Bank branch and request the form for Sweep in FD.
   • Fill Out the Form: Complete the declaration form with your savings account details and the sweep-in instructions you want to set.
   • Submit KYC Documents: Provide your PAN card, identity proof, and address proof, if these are not already updated with the bank.
   • Maintain Minimum Balance: Ensure your savings account meets the eligibility balance required for sweep activation.
   • Apply: Hand over the completed form and documents. The bank official will verify and process your request.
   • Receive Confirmation: Once your request is processed, the bank will notify you that the Sweep-in FD is successfully linked to your account.

Key Takeaways

The CSB Bank Sweep in FD helps you earn better returns than keeping funds in a savings or a current account. The surplus balance above the set limit automatically moves into a fixed deposit, earning higher FD interest rates. Only the required amount is transferred back when you need money, while the remaining FD continues to grow. This facility can be activated online or offline, giving you flexibility and convenience in managing your funds.