Change in the reverse sweep method for linked FDs

	Dear Customer, We refer to your Money Multiplier/Flexi Fixed Deposit which is linked to your Savings/Current Account (henceforth referred to as Linked Deposits). In the Reverse Sweep Facility your funds from Linked Deposits are also considered while honouring any debit instructions issued in your Account. The funds are seamlessly transferred in your Account from your Linked Deposits when the balance in the Account is less than the amount requested for withdrawal through Cheques, RTGS, NEFT, etc. Earlier in the case of a Reverse Sweep, funds from the most recent Fixed Deposit would be utilised first to complete the withdrawal. These funds from the most recent Fixed Deposit would include both the principal amount and the applicable interest. However, with effect from July 16, 2024, this has undergone a change. Going forward, in the case of a Reverse Sweep only the Principal Amount of the Linked Fixed Deposit would be considered and the interest would not be considered. However, the interest will get credited in the Account on the closure of the FD. Accordingly, the total balance displayed on Internet Banking, iMobile Pay and in SMS will reflect this amount in the Account and the Principal Amount of the Linked Deposits. You can view the Fixed Deposit Balance along with the interest amount in the Accounts and Deposit section > Fixed Deposit > Deposit Statement on iMobile Pay. Illustration.   Savings Account Balance: Linked Fixed Deposit Balance Interest on Linked FD ₹100 ₹100 ₹5   In the above scenario, the withdrawable balance or total available balance displayed through Internet Banking and iMobile Pay will be ₹200. For further information, contact our Customer Care.   To know more, call on For further assistance Chat with us ❘ Locate a branch ❘ WhatsApp us Access your account Internet Banking ❘ iMobile   Sincerely, Team ICICI Bank
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