Auto Sweep Facility Explained || Auto Sweep Facility in SBI Detailed Review

Auto Sweep Facility Explained || Auto Sweep Facility in SBI Detailed Review
A lot of you must've heard that you it's super simile to earn 7-8% from your Savings Account by enabling the Auto Sweep Facility. But what if we tell you that this is only partially true.
There are a lot of hidden aspects of Auto-Sweep Facility which you should know about.
Watch this video to understand the complete reality of Auto-Sweep Facility and as a added bonus we will also be reviewing the Auto-Sweep facility of SBI.
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[@manishaggarwal8867]

Please make the same type of video on HDFC bank Auto sweep... Thanks

[@ShubhamBafna202]

+1

[@shubhanshusingh335]

+1

[@thesoup_is_dry1358]

+1

[@arpitsharma7781]

Yes please

[@10_aanan]

+4 ...

[@sonibind1225]

Aapne hi to bataya tha😅😅

[@KautilyaBhardwaj]

Very nice someone covered this. I used to opt auto sweep in kotak bank till I was untaxable. Then I stopped this due to 80TTA. Auto sweep in Kotak is good, as they don't charge any penalty & all FDs are for max 180 days. It'll get renewed post that.

[@arpitkumar4525]

But 180 days FD in kotak give 3.5% interest. Minus taxes. And savings acc interest rate is also 3.5%. So savings is better

[@KautilyaBhardwaj]

@@arpitkumar4525 The time I was quoting is 2019 or so. Abhi to sabhi jagah FDs ki rate piti hui hai, auto sweep bhi senseless hai bilkul.

[@naishaldoshi3042]

Abhi 4.75% hai

[@bunnyrimiseries6098]

@@arpitkumar4525 if interest on fd is less than 40k then it's not taxable

[@piyushkumar1958]

Kya auto sweep ke baad main balance se balance deduct ho jata hai

[@tuhinspix]

I partially disagreed with your points: 1. Sweep In deposits are a very good option if you are using ur SB account for parking your idle money. Most people use these accounts for Saving Purposes. That's why it's a headache-free Interest Multiplier indeed. 2. For For those who are using SB accounts frequently, this facility is useless & Bank set the threshold limit for that reason. You may increase the threshold also which you have skipped brilliantly. Now, those who are using an SB account for regular transactions mostly may maintain less than 35000 (minimum threshold) in most of the thases. 3. IDFC or Bandhan or RBL Bank cases are different. I don't consider a Sweep In deposit a good option in these banks as an SB account offers a lot better interest than regular FDs. Hence, your point is correct. 4. Taxation is indeed a burden but who cares! People still need FD & you should keep some good amount in FDs as your emergency savings. Sweep In deposit or Regular, both are carrying the same level of taxation. Then why are you putting this generic disadvantage here, I couldn't understand. Lastly, if Auto Sweep Facilities are trapped & so on, I must say Banks can advertise widely but they don't do because it will increase their deposit cost. If you keep your money idle in an SB account without creating FD, it's profitable for Bank actually. MOD/Sweep-In deposits are actually an automation tool to reduce our Financial Planning burden. Please don't showcase it wrongly. I know you guys (Financial GyanGuru Utubers) are pushing people to do MFs by hook or crook. It's good definitely, I personally recommend this tool but it's not suitable for all cases. You should have some FD too then why not MOD?

[@tuhinspix]

@@Ak09921mod is nothing but a fd. So we have to show fd interest,same way mod interest

[@anmolnarula135]

Thanks buddy for sharing your valuable views, I too agree that her videos are sometimes inherently biased and incomplete. She needs to work on them else otherwise another finance influencer will make a video on how her videos are a trap.

[@av4921]

Yeh video creators bs gyaan jhadte hai... Real calculation ni batate... Bs monetize krne ka tarika video Ko.... Missed a lot of crucial details..

[@prabhatsaxena8953]

Thanks for providing more clarification.

[@alkeshbadgujar646]

thanks for more clarification

[@patulivillageboyhimanshuna2903]

Kon kon sandeep maheshwari sir ki video dekh k yha aya h like kro👍

[@VikasSharma-pu8kq]

This is not a trap..ofcourse this is low interest scheme....use your thumbnail properly

[@shivanibaghel8915]

But sbi says no penalty on breakage I just confirm

[@gerardrony]

This is wrong information. I am using sbi autosweep facility. The only charge reduced is TDS and not penalty.

[@rohitpromise3815]

Sweep k bare me to aapne he btaya tha 🤣🤣 kzbin.info/www/bejne/b3qVaoGba66hfJI

[@rishabhranjan2492]

This information about SBI Auto Sweep is totally wrong, please take proper info from someone working in SBI. Very 1st thing is auto sweep starts when balance goes above 35000 and not 45000 and there is no penalty at all. I am using this facility for past 5 years.

[@fanindhrathirunagaru2667]

paytm payments bank no penalty.

[@ShivendraSrivastava94]

Kyu kya HDFC walo ki auto sweep facility main taare jade hai

[@wisylucky]

No penalty And there is no tenure of MODS If you withdraw money more than the balance available in your savings account, your mod will break and the money will get deposited in savings account

[@adcadc9314]

Sorry to ask , but have u ever worked in Kabir Singh movie , in movie there is one character who very much look like u ....

[@indianguy3098]

Auto sweep facility is better if you park your threshold limit (like for SBI Bank Rs-35000) for more than 6 months. In most cases, you have to give a 1% penalty. So for regular transaction customers, better to keep away from the Auto sweep facility. If someone has more than 1 savings account and transactions are very limited, in that account Auto sweep facilities are beneficial.

[@Justnewmoviez]

sister 15 g/ h for fd have u any knowledge u have zero knowledge better than other bank

[@investwalebhaiya]

Everything said in video is based on some opinions but not facts.

[@BebakIndia-v4n]

nice work in Sas Bahu pvt ltd

[@rajak3658]

पर मेरे मित्रों को sbi 25000 तक ही रखने देता है उससे ज्यादा को mods में डाल देता है आप 35000 कह रही हैं please explain 😊

[@sumitsahu2338]

The whole point of activating sweep in facility is demolished by keeping the penalty. That means it is not auto sweep feature. And auto sweep feature also includes liquidity on FD amount. If banks are charging penalty for premature auto sweep FD, then it's not auto sweep feature from banks.

[@wisylucky]

No one is charging, there is no penalty there, i am currently working in SBI and even I don't know form where she cooked that shit.

[@AK-cx5te]

@@wisylucky I am salary person. I have salary account in sbi... Is any penalty rate on premature withdrawal

[@wisylucky]

A penaly of 1% interest Suppose you wer getting 5.10% for one year and you withdrew tha money in 6 months then the int rate would be different. It would be around 3-4 % (I dont remember the exact int rate). In othr words int rate would be down by one percent in premature withdrawal of FD.

[@nicolasdelamore129]

@@wisylucky When I opt for auto sweep facility in SBI my SB interest got deducted for around 45 days from the last quarter. Will it ever credited in my account?

[@wisylucky]

Yes everything will In the quarter end

[@joydeepbasak6378]

Thank you for this video . Just couple of days back I researched on this topic and came to the same conclusion.

[@indianguy3098]

Why park extra money in Savings accounts for the Auto sweep facility???. Better to park your extra money in a Regular FD, mutual fund, or stocks.

[@UdayShrivastav]

Happy Rakshabandhan didi🥳🥳🎁🎁 Loved your content..

[@saurabhkesharwani6143]

Good video! 👍🏼 Auto-sweep facility jitni favourable hoti hai utni hi inconvenient bhi hoti hai, from the point of accounting. I have used it. Har bar sweep-out aur sweep-in hone par multiple FDs ban jaati hai. Aur kaunsi FD kab bani, kaunsi kab break hui aisa bahut kaam bad jata hai. 👈🏼

[@nareshkk62]

being an accountant i understand it better

[@saurabhkesharwani6143]

@@nareshkk62 👍🏻

[@chandansahoo8936]

Ma’am please tell me about ICICI bank’s auto sweep facility pro & cons

[@kavindrajain681]

Yes mam please

[@yash4u2004]

+1

[@anmolnarula135]

Your clickbait thumbnail is highly misleading especially targeting a particular bank(SBI) whereas in your video you have given relatively better review for that bank's(SBI) sweep facility, kindly amend this aberration.

[@PrakashYadav-wd6cd]

How to stop online mod in sbi

[@anothersaurav]

Absolutely wrong information on threshold limit & interest rates on FD im SBI. I have accounts in multiple banks and am also a user of SBI's MODS, hence I know how wrong this video is. This woman is constantly discouraging people against SBI in all her videos by deliberately providing misleading information. She has literally gone on to say in one of her videos to say that SBI charges more penalty fees than private banks for non maintenance of MAB!! Hope someone from the Bank takes appropriate action against this channel.

[@dmeena92]

She Mix some lie with truth first it’s 25000₹ and multiple, 35000 only for first time to activate….she didn’t mention if someone did 1L₹In mOD if he need sweep in 10000 but remain amount of 90000 he gets full FD rate that more beneficial

[@ramasaha409]

Is larkiko SBI se kya problem hai bhai. 😅

[@swadeshmaharana1914]

I Think the Extra balance kept in Our Saving Account for emergency may kept under This Auto-Sweep Facility as this is not used currently and we don't want this amount to be kept under Actual FD where it take little more penalty and Time to get the money back.

[@akashhandi6390]

It was you made a influencing video on auto sweeping 🤪 now you have realized the glich and covering the wound of many people 😑 ha ha ha ha just kiddin

[@quantbooster3584]

Rather than targetting on a single Bank please also share details of other private banks also so that people can compare and select which is the best.

[@ARShaikh515]

Mujhe intrest band karwana ho to kaise kar skte h Mujhe intrest rate hi nhi chahiye plz batao koi

[@vivekojha7886]

HDFC pe bhi banaye

[@AnilVerma-yu7mf]

Fd ka time choose karne ki choice customer ko nahi hai.

[@democracyjusticegod404]

@bekifayaati : Also, pls mention 3 points : 1. Sweep out Selection option : NO 👎 Online option to break FD, Only Bank randomly decide which FD to break... not you as Customer ...!! 2. Bank's FD Breaking/Sweep out Option Criteria : 2.A FIFO or LIFO based on Sweep-in time ...? 2.B One Large nearest Principal FD or Multiple Less Capital FD summing to Needed Amount to withdraw, with respect to requested Need Amount ?? 2.C FD to be broken, are selected based on Rate of interest? Ascending or Descending ? 2.D FD to be broken based on Interest lower or higher ?? 3. Those FDs rolled over 5 times in 5years+ , will SBI threat it as TaxFree FD ?

[@saritatyagi216]

Better he ki manually, YONO SBI se FD kardo or FD breake karne par koi penalty bhi nahi lagegi

[@shabnam5940]

Autosweep m threshold limit amount ko cross krte hi automatic FD m transfer ho jata sbhi banks m .....1000 rs. vaalo konsi new facility hai jo aap bta rhe ho....🤔🤔🤔

[@burudicreate74]

Mam online me auto sweep karsaktaye kia

[@happyalways2753]

Plz plz plz make videos on how can a non commerce background person understand abt SIP and SWP. Easy step by step

[@RameshKumar-qd9hc]

Total Bakwas

[@prathameshbirajdar8778]

U forgot abt 80ttb

[@mramritpal315]

mam mera account pnb mai hai, vaha ka staff bahut bekar mai.mai 1 month mei jab bi randomly bnk jata ho, 1 vaha minimum loog hi 50 hote hai,space bahut kam hai. 2 vaha torn note change nahi ho rahe. 3 vaha koi b form barne k liye pen hi nahi milta. 4 in case hame pata chalta hai ki koi scheme or rewards points hai, voh bolte hao ki 1st table pe jao. 1st table wala bolta hai ki,2nd pe jao ,2nd wala bolta hai ki 3rd pe jao.aur dusra 10 bando ki lane hoti hai.kuj v pata nahi lagta. 5 kabi onka bank server low hota hai kabi system nahi chalta mai os branch ki complain karna chahta hu, tabi kkooi solution hoga . problem sirf yahi hai ki har bar time waste karke home, doosra work 1-2 month delay ha jata hai plz help me,plz

[@abhishekaggarwal2809]

Dear Mam, I request you to please kindly make this type of detailed video for HDFC bank auto sweep also... Regards

[@v.s2095]

👀❤️👌

[@aestheticneoncreations9479]

Does it means that 35k is the minimum amount left in savings account after the sweep out??

[@Ashoo931]

In icici bank?

[@ramchander24]

Very crisp and concise information. Thank you, this helps...

[@dpkar7227]

Could you please share the SBI MOD official link where it is mentioned that the penalty will be imposed in case of premature withdrawal from MOD account? I read few links saying that the penalty will be applied only for normal FD not for MOD in case of premature withdrawal.

[@vishalmahour6191]

Iska matlab 1 saal tak hamara balance 35k hi rahega isse jyada hota hai toh woh amount automatically mod acc me transfer ho jayega or agar humne 1 saal se pehle paise nikale toh uspe penalty bhi lag jayegi iska alawa agar hamare acc me sufficient balance rahega toh 1 saal ke baad automatic dubara 1 saal ke liye yahin process hota rahega. Hum 1 saal ke baad mod account me jitna paisa hai uspe interest leke beth nhi sakte...?

[@poop-hr2us]

It's not trap it's your content is scrap

[@swahitagnichakraborty4362]

Why? Any counter arguments?

[@Goodmorning-uj9pf]

Par ek baat batao intrest milta kab hai auto sweep mein..... I mean account mein 1 saal se same amount he aah Raha hai sweep balance par intrest nahi milta na he sweep balance mein add hota hai please anyone to my question

[@AkshayN91]

Naha ke video bana rahe ho good....😁

[@deadpool9432]

2 month complte ho gaye hai SBI mai AUTO SWEEP ACTIVATE karwaye hue par abhi tak koi INTREST nahi aaya hai bank mai .

[@subratpradhan3581]

mere pass toh utne paise he nahi hai kya he karunga auto sweep on karke

[@muzix9955]

hann bhai😂

[@arpitkumar4525]

It is better to do laddering. Gives you more control and your interest rates are averaged

[@dk.23]

What is laddering? Please can you explain that

[@vs6319]

Fir aa gayi ye tauliya lapet ke

[@rajnishojha8359]

Pranjal kamra!!!???

[@arifansari7]

Aapne to khud bola tha auto sweep karvane😂

[@shrutapandey9717]

Pls make a video on auto-sweep in AXIS bank... As when asked in the branch, they told it's better to have FD account cuz' of error in interest and tax calculations( can be cumbersome) n may cause problems later

[@66sachinkumar92]

@bekifaayati Does this facility works on 'student account' ? Kindly reply.......

[@bhagyashah5651]

Mera aek account he jis me sir ipo applay ke liye paisa rakha he to vo ipo applay ke time bank me hi paisa lock hojata he or ipo milega tab bank mese cut hota he to kya me uss account me Auto sweep karva sakta hu ???? Ipo applay locking ke time pe penalty lagegi ya nahi ???

[@divyaalok5538]

जय श्री कृष्ण

[@ajsujit]

Can we change the limit to 60000 instead of 35000?

[@Lucky_3675]

Mam is their any way to reverse your unauthorised transaction money if the branch is saying the paper are not submitted before 90 days especially SBI MAKE A VIDEO ON THIS TOPIC .

[@animehunt7690]

DEAR MAM PLEASE MAKE A DETAILED MYTH BUSTER VIDEO ON POLICY BAZAR'S RETIREMENT PLAN IF THEY ARE TRUE OR NOT AND ALSO TEL IN THAT VIDEO WHICH PERSON SHOULD INVEST IN THOSE PLAN NEERAJ BINDAL नीरज बिन्दल Yours truely follower

[@harpreetkaurscience2957]

Fd is Best 7.6℅ Sbi mod account 5℅ Canara me sweep account panelty 5.1℅

[@yasinnabi]

You can only become truly accomplished at something you love. Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you. --Maya Angelou,.,.,

[@rkarora1956]

Thanks for detailed study and presentation of Auto Sweep facility Deposits acvount in Banks. Nice to listen. Please also prepare such other mind opening videos on other aspects of Banking.

[@ravirajdange1981]

Yes, I experience it, the banks are only advertising this product, ne real benifits to customers. Only benifits to banks😂

[@SaikatSil-l1f]

This video is irrelevant. Sweep in should be compared against savings interest only. This is always beneficial with respect to savings(with liquidity) in long term.

[@SaikatSil-l1f]

This video is irrelevant. Sweep in should be compared against savings interest only. This is always beneficial with respect to savings(with liquidity) in long term.

[@SaikatSil-l1f]

This video is irrelevant. Sweep in should be compared against savings interest only. This is always beneficial with respect to savings(with liquidity) in long term.

[@SaikatSil-l1f]

This video is irrelevant. Sweep in should be compared against savings interest only. This is always beneficial with respect to savings(with liquidity) in long term.

[@JHBiswas]

I actually wandering about this part. Thanks... I made the FD of the minimum required balance and buried it. Haha

[@anukoolthapa]

nahane jari kya

[@Dasgauravraja]

Thanks for explaining 😀 I just got to know this when I paid extra for this FD Shit in my income tax returns 😞 without knowing ki it’s counted as FD and I am in 30% tax bracket, so horrible

[@vidsv3082]

same here

[@shailendrapk5647]

Madam, it isn't tat all interest on savings is not taxable n without any benifit to customers, bank won't bring in such facilities as auto sweep. As a whole, one will definitely gain. And keep in mind tat sweep is also available fr current accounts, which actually don't carry any interest and customer is definitely benefited when he uses sweep on current account. And next time don't use SBI logo in ur videos...u don't hav any authority.

[@chinmayisagwekar1458]

Plz correct ur facts.. sbi doesnt charge any penalty on MOD.

[@VIJAYKUMAR-lo6rl]

they will charged for auto sweep facility for month i asked in icici bank

[@imrannaikawadi2856]

Unknown points are covered very well.. very useful.. thank you🙏🏻😊

[@TezPlan]

Very Wrong Information about SBI Fd.... Go to helll....

[@jayk.kanoria6997]

Can you please drop your name ..... Me & my friend are having little debate

[@Shivam426]

I was very confused before watching your video.Now all confusions are clear.Thank you for this precise explanation.

[@ASK8118]

Visit J&K bank. There is no penalty on sweep account. Banking hassle free.

[@hargopalsahu6939]

you are not correct about SBI policy. please go SBI learn policy then share.

[@harmanpreetsingh1668]

Too complicated for normal person , Kindly use normal words..

[@nikks2477]

Don't know why bt i feel like this girl z targeting this single bank with less knowledge nd facts . Plz do some real work . Baki banks k comparison qz pros n cons hn sab research kr k btao na

[@russelfernandes6619]

Tho fir auto sweep aur fixed despot may kuch difference he nahi haii

[@sahilpattiwar9537]

Hi mam... Whats the rbi guidelines for refund from amazon takes time to reflect in credit card.. Its been 2 months but refund from amazon is still not recived in my slice card please help

[@asurakengan7173]

There is no penalty, where are you getting this information?

[@nishantsrivastava6228]

Threshold limit for sweep out facility in SBI is 25000. Kuch v mat bola karo aakr....

[@pankajchakrabarty8618]

Forget SBI & DELETE this Fraud Bank 😠. Need to Immediately privatisation this Fraud. Be concentrated about HDFC BANK. And HDFC BANK government Bank hona chahiye. Aur Stop this nonsense advertisement! Public ka account saff korneka Key 🗝️ dhoon rahe ho keya. Tha ki aaram se account saff kor sekte ho. SBI BANK EK CHOOR BANK HI. Needs immediate attention of all City branches. Needs immediate CBI investigation. Ek ek officer jail mai jayga

[@SanjayKumar-et2wq]

मैडम क्यों पब्लिक को पागल बना रही हो। SBI ne autosweep in करते समय चार्ज लगाया इसका proof दो। MOD facility के नुकसान नही ह।

[@divyaalok5538]

Awesome

[@lightcamerareel]

Trap?? Really?? Easy to gain more view. Kisi bhi brand ko choose Karo..aur Aisa word use Karo.. aur banao public ko ullu.. great scheme madam

[@krunalpatil7797]

मुझे YES बँक के करंट अकाउंट मे ये फॅसिलिटी मिली है ,मुझे इसके बरे मे कूच नही पता,प्लझ येस बँक के बारे मे भी बातये

[@yushmmgamer6867]

Auto sweep on krwane ke baad sare deduction ke baad atleast saving account jitna interest milega ya nhi, If amount is < 500000 ?

[@abydictbydict]

It is you who mentioned in one of your shorts praising the auto sweep feature and asking viewers to get it done. Now you say it is a trap #confusedFollowers

[@ishika2046]

It's wrong. The threshold is not 35k .. it's 25k.