Federal Bank's Sweep Plus: Affordable Current Account Banking for Businesses
As a business owner, managing company's cash flow efficiently is paramount. One needs a banking solution that not only safeguards their funds but also helps maximise returns on idle cash. This is where Federal Bank's Sweep Plus Current Account comes in. With its unique features and benefits, this innovative account could be the perfect fit for business's financial needs.
Federal Bank, a leading private sector bank in India, has designed the Sweep Plus Current Account to address the specific cash management challenges faced by businesses of all sizes. By seamlessly integrating a current account with a fixed deposit, this solution enables businesses to earn higher interest on their surplus funds while maintaining easy access to liquidity; let's explore how.
Superior Return on Idle Funds - How Sweep Plus Helps You Maximise Earnings
The Sweep Plus Current Account automatically sweeps out funds above a preset threshold from one's current account into a linked fixed deposit. This means that any surplus funds in the current account beyond the specified limit are automatically transferred to a fixed deposit. When current account balance falls below the threshold, the required amount is seamlessly swept back from the fixed deposit to meet transaction needs of the customer.
With Sweep Plus, idle funds earn a higher interest rate compared to a regular current account. Federal Bank offers competitive interest rates on the fixed deposit portion, allowing businesses to maximise returns on surplus funds.
Automatic Sweeping of Excess Funds and Safekeeping of Your Money in Term Deposits
When excess funds are swept into a term deposit, they are not only earning higher interest but are also protected by the stability and security of Federal Bank. The idle money is safeguarded in deposits with one of India's most trusted and well-capitalised banks, giving customers complete peace of mind.
Advanced Digital Banking Features - Manage Your Money on the Go
One of the key benefits of Federal Bank's Sweep Plus Current Account is the flexibility it offers in managing business's funds. With the account's digital features, one can efficiently handle their finances from anywhere, at any time:
- Real-time Transactions : Instantly transfer funds, make payments, and manage swept deposits through online and mobile banking channels.
- NEFT/RTGS : Easily initiate high-value transactions through NEFT and RTGS.
- UPI Payments : Seamlessly send and receive payments using UPI (Unified Payments Interface).
Hassle-free Transaction Services - Say Goodbye to Additional Fees
Many banks charge hefty fees for various services linked to current accounts, which can eat into business profits. However, with Federal Bank's Sweep Plus Current Account, one can say goodbye to most of these additional charges and ensure a range of hassle-free transaction facilities including-
- 50 free cheque leaves per month.
- Unlimited free NEFT, RTGS, and IMPS transactions.
- Free monthly e-statement and email alerts.
- No account maintenance charges.
Specialised Business Features - Built With Your Needs in Mind- Debit Card, Lounge Access, Cheques
Federal Bank understands that every business is unique. That's why the Sweep Plus Current Account offers specialised features catering to specific business needs. Whether one is a sole proprietor, a partnership firm, or a private limited company, the Sweep Plus Current Account can be tailored to suit specific banking requirements of all.
As a Sweep Plus account holder, customers will receive a premium debit card with lounge access and no issuance charges. The complimentary airport lounge access across India, makes business travel more comfortable and productive. Also, one can avail of cheque book facility for their business transactions with ease.
Exceptionally Low Minimum Balance Requirements - Affordable Banking for Everyone
Most banks require businesses to maintain a certain minimum balance in their current accounts. Falling below this threshold often attracts penalties, which can strain a business's cash flow. This is where Federal Bank's Sweep Plus stands out. Sweep Plus allows customers to operate their account with a minimal balance. This means even small businesses and startups can enjoy the benefits of a current account without worrying about high balance requirements.
Conclusion: Take Control of Your Business Finances Today With Federal Bank's Sweep Plus Current Account
In today's competitive business landscape, having a banking partner that understands and supports growth aspirations is crucial. With its innovative Sweep Plus Current Account, Federal Bank offers a comprehensive solution that can help optimise cash flows, maximise returns, and achieve business goals. The account is designed to empower businesses at every stage of their journey. So why wait? Visit Federal Bank's website to take control of business finances today with Federal Bank's Sweep Plus Current Account.