FD with option to add funds anytime, does it exist?

Why don't you create a new FD? Creating nee FD is also beneficial because you can break a smaller amount if you need it.

If you want to put money in am old high interest FD then I can see why you want to do that. But that won't be possible

you can get this benefit from OD loan account
basically it is not to earn, but to save on interest 

maybe small amount FD can be a good option then you dont need to break all. 

a PPF interest is calculated on a monthly basis more like a SB a/c (of course with a higher interest rate ), and a sweep in FD  works more or less the same way.

With the given conditions with a fixed/minimal risk rate all I think atm is sweep in in savings accounts (fifo/lifo) as mentioned already above. 

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You can also consider these (not availed any of these below, so plz don't consider it a recommendation) 

• Flexi Deposit Scheme(SBI) 
• Central‘s Flexi Yield Deposit Scheme
• ICICI Bank FD Invest
• Flexi Fixed Deposit
• Encash 24 Flexi Deposit(axis) 
• Star Flexi Recurring Deposit 
• Flexi Deposit Scheme(Allahabad Bank) 
• Flexi Fix Deposit
• Union Savings Flexi Deposit Account
• 
  

Thanks to all for their inputs...

kkrulesdnation wrote:
Icici has iwish goal based savings deposit


In that u can do like this 

Yes that's the most close alternative and less restrictive than SBI etc... Thanks.

@kkrulesdnation do you know if they allow opening this deposit through netbanking from an account applied online ?

Agnivo007 wrote:

Yes that's the most close alternative and less restrictive than SBI etc... Thanks.

Agnivo007 wrote:

@kkrulesdnation do you know if they allow opening this deposit through netbanking from an account applied online ?

I meant ICICI for earlier comment. @kkrulesdnation

Agnivo007 wrote:

I meant ICICI for earlier comment. @kkrulesdnation

satraghav wrote:
Try SB a/c Auto-Sweep FD. You can withdraw any amount from FD whenever you need.