How can I get SBI debit sweep balance?

How to check MOD balance in SBI

1. Install the SBI Yono lite app on your smartphone and login with your internet banking user id and password.
2. Once you login to your account, tap on My accounts option.
3. On the screen, tap on Accounts summary option.
4. Now, from the new screen, tap on the Deposits Accounts option.

How can I close my SBI sweep account?

In the Sweep-In screen, select the beneficiary account number from the Select Account list and click Proceed. The Sweep In screen with all the linked provider Current and Savings/ Fixed Deposit accounts appear. Click Cancel to cancel the transaction.

What is sweep to in SBI?

The sweep-in facility permits you to set a limit on savings account and auto transfer the excessive sum from it to a fixed deposit sweep-in account. Most banks allow the limit to be set in multiples of ₹ 1,000 . For availing the sweep-in facility, having a savings account linked with a fixed deposit account is a must.

What is Autosweep facility?

The auto-sweep facility is a combination of savings account and FD or fixed deposit account. Whenever the amount in the savings account crosses that defined limit, the excess money is transferred automatically into the fixed deposit.

What is a sweep TFR Dr debit in SBI?

‘SWEEP TFR DR’ stands for sweep transfer debit. This refers for the auto sweep facility, which comes with the savings bank plus MOD account, (MOD- multi option deposit). This type of account enables you to get an interest of more or less 7% on your savings bank account. This account works on the principle of ‘PUSH’, ‘PULL’, and ‘MOD’.

Is there auto sweep facility in SBI savings account?

Like most other banks, SBI too has been offering savings accounts with an Auto Sweep facility for many years now. They have named it as ‘Savings Plus’ account. Savings Plus for SBI is essentially a savings account linked to their MODS facility.

How does a debit sweep work on a bank account?

Debit sweep is done on customer request and is not system generated. So, whatever amount is being swept from your account is being sent to another account, which in majority cases, is your own account.

What is sweep transfer in Mod deposit account?

All transactions from / to the MOD deposit account , made automatically to / from the Savings account, under the bank’s algorithm are called SWEEP Transfers (TFR). They are suffixed by CR when credited to your Savings account, and by DR when debited from your Savings account. For example, if you have a sweep limit of INR 5,000.