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#1
September 3rd, 2015, 02:23 PM
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| Yes bank auto sweep
one of my cousin told me that Yes bank offers High returns on Fixed Deposits with Auto Sweep facility. so this is true or not? if yes then tell me about the percentage of the return? give me the other details about Auto-Sweep Facility which is offered by Yes bank?
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#2
November 2nd, 2019, 08:08 AM
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| Re: Yes bank auto sweep
Can you tell me if YES Bank offers a sweep-in facility for premature withdrawals of FD (Fixed Deposit) for its customers as I want to check it before opening FD Account?
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#3
November 2nd, 2019, 08:09 AM
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| Re: Yes bank auto sweep
Yes, YES Bank offers a sweep-in facility for premature withdrawals of FD (Fixed Deposit). A fixed deposit is an investment account which is opened for a stipulated period of time by depositing a certain amount of money. The money with which this account is to be created is a fixed, one-time deposit with a fixed rate of interest. The rate of interest on fixed deposits varies according to the amount deposited and the tenure of the deposit. Withdrawal of the fixed deposit account occurs either upon maturity, or prematurely, where the account is said to be broken. Eligibility One under the following categories is eligible to open a fixed deposit account: Resident individual Hindu Undivided Family Companies, Partnership Firms or Sole Proprietorships Family Trusts Associations, Clubs and Societies The minimum amount to open a fixed deposit account is INR 10,000. Features and Benefits of Fixed Deposit One can choose the tenure of the deposit according to convenience and financial goals. The Bank offers various fixed deposit tenures ranging from a minimum of 7 days to a maximum of 10 years. Returns are guaranteed on deposit. There is no risk involved in investing money in a fixed deposit account. Investing in a fixed deposit account earns a higher rate of interest than a savings account. One can choose when to collect the income earned from the interest. One may reinvest the interest, without collecting, to benefit from the effect of compounding. It is easy to raise a loan against fixed deposit. One can borrow up to 90% of the amount in your account. It inculcates a habit of saving money, thereby enabling to manage finances and plan ahead. Over and above these benefits, opening a fixed deposit with YES BANK gives the following added advantages: Overdraft Facility Five Years Tax-Free Deposits Auto Renewal Inter-City Banking Facility |
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