Your Accounts

Auto-Saver (sweep in and sweep out facility)

The DBS Auto-Saver offers higher interest rates of fixed deposits on idle funds in savings accounts.

Features

  • Fixed Deposit is made for a minimum amount of INR 10,000 and in multiples of INR 1,000, subject to a maximum cap of INR 5 lacs
  • Customers have the flexibility of choosing from a tenure between 7 days – 60 days. Tenure once chosen will remain constant for the entire period in which facility is availed.
  • Funds will be utilized to automatically create (sweep-in) fixed deposit(s) from the savings account. Linked fixed deposits(s) get broken automatically (sweep-out) to meet the shortfall arising on account of any debits into the savings account e.g. cheques issued, ATM withdrawals, etc.
  • Fixed Deposit gets broken only in multiples of INR1. The balance in the Fixed Deposit continues to earn interest at the initial contracted rate, to ensure maximum returns
  • This is offered to both Resident and non-Resident customer (For non-resident customer only on their NRO account and NRO FDs)
  • When multiple Fixed Deposits are linked to the Savings account, the last Fixed Deposit created is broken first (LIFO method), to ensure maximum returns
  • There is no extra charge for availing this facility
  • No penalty will be charged for premature breakage of Fixed deposits when there is shortfall in the account.
  • The threshold in the Savings account is INR 1 lac beyond which funds will be swept into fixed deposits.

 How to Apply

  • Visit any of our branches
  • Call our hotline at 1800 209 4555
Get In Touch

Call Us: 1800 209 4555

Get In Touch

Call Us: 1800 209 4555

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