Skip to main content
Bank Deposits

Sweep Account

In the world of finance, a popular product known as a "Sweep Account" has been introduced by numerous banks. This unique account offers a combination of savings and fixed deposit features. The account holder has the autonomy to determine a minimum balance for their savings account, and any surplus amount is automatically swept into a fixed deposit account. This allows for effortless management of funds, as the bank can transfer or 'sweep' in funds to the savings account when needed.

Related terms

Deposit time slabs

Understand the meaning and definition of Deposit time slabs in the context of stock market, trading, and investments.

MORE
Bank fixed deposits

Understand the meaning and definition of Bank fixed deposits in the context of stock market, trading, and investments.

MORE
Repayment

Understand the meaning and definition of Repayment in the context of stock market, trading, and investments.

MORE
Future Value

Understand the meaning and definition of Future Value in the context of stock market, trading, and investments.

MORE
Interest payout

Understand the meaning and definition of Interest payout in the context of stock market, trading, and investments.

MORE
FCNR

Understand the meaning and definition of FCNR in the context of stock market, trading, and investments.

MORE

Open Free Demat Account!

Join our 3.8 Cr+ happy customers

+91
Explore other categories
Enjoy Zero Brokerage on Equity Delivery
10 Cr+DOWNLOADS

Enjoy Zero Brokerage On Stock Investments

Get the link to download the App

Scan this QR code to download the app
Get it on Google PlayDownload on the App Store

Open Free Demat Account!

Join our 3.8 Cr+ happy customers
+91