Smart CA Lite Current Account

You work hard for your money, but your money should work hard for you too. Smart CA Lite doesn’t let your extra funds sit idle, it quietly tucks them into FDs, making them grow every day. And when you need them, they return to serve you again.

It’s like having a silent partner, always working behind the scenes for your future.

Features and Benefits

Exclusive Auto Sweep Feature
Free cash deposit limits up to Rs 30 Lakh per month
Free RTGS/NEFT transactions online
20% discount on small, medium & large lockers
Free E-mail alerts & statements
Free issuance of Mastercard Titanium Debit Card
ATM withdrawal limit- Rs 1,00,00
Daily Net/Mobile Banking limit up to Rs. 5 Lakhs
Free Bharath QR issuance
WhatsApp Banking priority access with extended command set

Sweep Configuration

Default sweep threshold fixed at Rs.25,000
FD will be created when balance reaches Rs.50,000
FD's will be created in multiples of Rs. 25,000
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 units of 5k.
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 — Smart CA Lite

FDs will be created in multiples of Rs. 25,000 and broken in multiples of Rs. 5,000.
Minimum balance needed for FD sweep in the account is Rs. 50,000.
Average Monthly Balance to be maintained is only ₹ 25,000
FDs will be created weekly - every Monday for the amount above threshold (Rs.25,000).
PAN is mandatory for Smart CA Lite Current account.
All Sweep FDs created from the account will have the maturity instruction set to “Do Not Renew”.
Fixed Deposits created through the Sweep facility will not be eligible for overdraft facilities and cannot be offered as collateral.
For Fixed Deposits (FDs) created from the Smart CA Lite 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.
FDs made through the Smart CA Lite 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.
The interest earned may be subject to TDS as per the prevailing income tax laws.
Maximum of Rs. 1 crore FD can be created from this account per sweepout instance.
For FDs created through the Smart CA Lite 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 Smart CA Lite.
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).
All other terms and conditions concerning regular fixed deposit will be applicable.
Maintenance of the Average Monthly Balance (AMB) as prescribed under the product's Schedule of Charges is mandatory.