Updated Online video classes available for CA,CS,CMA for May20 and Nov20 batch. Call: 1800-3000-0505

Sweep account criteria.??

This query is : Resolved 

what is sweep account ?? can saving account in which salary is receiving can be converted into sweep account?? what are the practical advantage over savings ??

You can convert saving account also in Sweep Account, main advantage of this facility is Interest Rate
You can get a FD Interest rate on the balance in your Saving account after keeping minimum amount in Saving Account.

sweep means amount tr from saving to fdr and you get the fdr intt on the sweep amount.

You need to be the querist or approved CAclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

CA Learning