Being a investor, I am not a fan of FD’s
But since the market is ATH (All time high) I have redeemed some of my investments and some money parked in bank account.
Now, I can move this to debt/liquid funds but since the returns are low (may be less/more than FD) but I do not want to invest there (since it will be small time frame and lot of paper work) rather keep in bank account.
Now, Since Saving interest are -ve or 0 (adjusted to inflation) i want to park some in FD[which also is nearly 0 adjusted to inflation ] (for small duration) as i will be again investing the same in stocks/mutual funds after market corrects.
Also, Please do not suggest me IDFC First or savings bank with 7% interest rates. (Even no risks, paper work i.e. IT returns make it difficult)
Now, HDFC Bank has sweep in facility. I want to know
1. Minimum Normal FD required to start sweep in.
2. How sweep in works – As far as i know, it is first in last out.
3. Charges on sweep in/sweep out.
4. If xx,xxx amount is sweeped out in less than week/months, will it give -ve returns (in-comparison to saving interest)
I will add more questions/doubts and will create a complete article about this once i get sufficient info even if it not that promising.