Does HDFC Bank charge any additional fees for the auto sweep facility?
-
Hi
I am planning to opt for the HDFC Auto sweep facility for my savings account as I have a good amount of money in my account. I was reading one blog that states that there are some charges if we opt for the auto sweeps facility. But some articles have not mentioned any charges. So I want to know, how much charge are there if I choose this facility, including other hidden charges? And how much money should I set as a threshold for auto sweep?
-
Yes, HDFC charges some fees if you choose the auto sweep services. Additionally, HDFC charges fees for early withdrawals from fixed deposits. The threshold amount is entirely dependent on your spending and saving habits. Many set it at ₹25,000–₹50,000, hence just the additional money gets cleaned.
Regarding the hidden charges, it's advisable to consult with bank officials to gain further clarity on whether to choose this service or not.
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login