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SMARTSAVE CURRENT ACCOUNT
The CSB SmartSave Current Account is designed for businesses and professionals who want superior returns on surplus balances while retaining complete access to working capital. With the Auto Sweep feature, excess funds instantly move into higher‑return Fixed Deposits, helping businesses grow their idle balances without compromising day‑to‑day liquidity.
Features & Benefits:
- Exclusive Auto Sweep Feature for efficient fund utilisation
- Net/Mobile Banking limits up to Rs. 25 lakh/day
- POS/E-commerce limit up to Rs. 3 lakh/day
- ATM withdrawal limit up to Rs. 75,000/day
- Free Rupay Platinum Debit Card
- Up to 30% locker rental discount
- AMB to be maintained is Rs 50,000.
Sweep Configuration
- Default sweep threshold fixed at Rs. 2,00,000
- FD will be created when balance reaches Rs. 2,50,000
- FD's will be created in multiples of Rs. 50,000
- FD's will be broken in multiples of Rs. 5000 basis LIFO method (last booked FD will be broken first)
- FDs will be created on every Monday end of day
- Maximum FD value that can be booked per sweep out is Rs. 1 crore
How Auto Sweep Works
Sweep-Out (FD Creation)
- When the account balance exceeds the threshold, the surplus amount automatically gets converted into fixed deposits in fixed multiples.
- This allows idle business funds to earn superior FD-level returns without any manual effort.
Sweep-In (FD Break)
- When the account needs money for payments, funds are automatically drawn back from the FD in small units.
- This ensures uninterrupted working capital for business operations.
Result: Businesses earn more on surplus funds while maintaining full liquidity for daily transactions.
Important Terms & Conditions — SmartSave CA
1. FDs will be created in multiples of Rs. 50,000 and broken in multiples of Rs. 5,000.
2. Minimum balance needed for FD sweep in the account is Rs. 2,50,000.
3. FDs will be created weekly - every Monday for the amount above threshold (Rs. 2,00,000).
4. PAN is mandatory for SmartSave Current account.
5. All Sweep FDs created from the account will have the maturity instruction set to “Do Not Renew”.
6. Fixed Deposits created through the Sweep facility will not be eligible for overdraft facilities and cannot be offered as collateral.
7. For Fixed Deposits (FDs) created from the SmartSave product, the nomination, if registered, in the Current Account, will automatically apply to the sweep‑out FD. In case, customer wishes to register a different nominee, a separate nomination request must be submitted.
8. FDs made through the SmartSave account will be liquidated on a LIFO basis i.e. Last in First out; the latest deposit is closed first to maximize returns on your deposit portfolio.
9. The interest earned may be subject to taxation as per the prevailing income tax laws.
10. Maximum of Rs. 1 crore FD can be created from this account per sweepout instance.
11. For FDs created through the SmartSave feature, regular Fixed Deposit rates will apply to all customers, including Senior Citizens and Bank Staff. Additional interest benefits for Senior Citizens or Bank Staff will not be applicable to FDs made through SmartSave.
12. In the case of premature closure of Fixed Deposits (FD), the applicable interest rate would be the card rate prevalent on the date of the deposit for the period the deposit remained in the bank or the contracted rate, whichever is lower less applicable penalty (presently 1% penalty for premature closure of Domestic - FD).
13. All other terms and conditions concerning regular fixed deposit will be applicable.
For detailed information, please click here to view our Schedule of Charges.
