Auto-sweep facility to short term deposits

Linked to your savings/current account

  • Components
  • Benefits

The product has 2 components -

a savings/current account component and a fixed deposit component.
  • The product is being offered to individuals including minors, salaried people, businessmen, self-employed, professionals, traders and high net worth individuals (HNIs) and Non-Individuals (Firms, Companies and Corporates) . Beneficially for customers, deposits above £1000 and in multiples of £100 automatically gets swept from savings account to the linked fixed deposit account , earning higher returns. In case of Current Accounts, deposits above £5000 and in multiple of £1000 gets transferred from Current Account to linked fixed deposit account earning higher returns. The period of fixed deposit in either case being six months.
  • If and when the customer needs funds more than his savings / current account balance, a reverse sweep order will immediately be auto-triggered to meet the customers liquidity needs. To benefit customers with maximum returns, while reverse-sweep, LIFO system (Last in first out) is followed. Thus the product offers customers dual benefit of 'liquidity' through the savings / current component and 'hi-return' through the linked fixed deposit component.

Specific benefits over and above regular Fixed Deposit are
  • Auto-sweep facility to short-term fixed deposits for balance above and £1000 and £5000 in case of Saving and Current Accounts respectively.
  • Reverse-sweep facility to linked savings account for increased liquidity.
  • Tenure of fixed deposits - six months, earning good returns.
  • Smart fund management through system driven sweep and auto sweep facilities.
  • Summary Box of Baroda Smart Sweep Account
We use cookies (and similar tools) to enhance your experience on our website. To learn more on our cookie policy, please click here. By continuing to browse this website, you consent to our use of cookies. Manage Cookie

Are you Bank of Baroda Customer?

This is to inform you that by clicking on continue, you will be leaving our website and entering the website/Microsite operated by Insurance tie up partner. This link is provided on our Bank’s website for customer convenience and Bank of Baroda does not own or control of this website, and is not responsible for its contents. The Website/Microsite is fully owned & Maintained by Insurance tie up partner.

The use of any of the Insurance’s tie up partners website is subject to the terms of use and other terms and guidelines, if any, contained within tie up partners website.

Proceed to the website

Thank you for visiting

Manage Cookie