Ujjivan Small Finance Bank (Ujjivan SFB) on Monday announced the launch of Ujjivan Sweep Smart, an auto-sweep facility for its Maxima Current Account customers aimed at helping businesses and professionals earn higher returns on idle funds without compromising liquidity.
Under the new feature, surplus balances in Maxima Current Accounts exceeding ₹4 lakh are automatically transferred to short-term fixed deposits every Monday. Customers can set custom thresholds starting from ₹4 lakh, with amounts swept in multiples of ₹10,000 for a tenure of 180 days at an interest rate of 6% per annum. In the event of a shortfall, linked deposits are partially liquidated on a last-in, first-out basis without any foreclosure penalties. Standard TDS and RBI norms apply, and deposits are not auto-renewed, giving account holders full control over cash flow. Hitendra Jha, TASC, TPP, and Retail Liabilities Head at Ujjivan SFB, said, “Ujjivan Sweep Smart enables customers to earn on idle balances while keeping funds fully accessible. It is a powerful combination of liquidity and returns, reflecting our commitment to customer-centric innovation.”
Local businesses and professionals in Agartala have welcomed the move, noting that better utilization of idle funds can help improve cash management and strengthen working capital. Banking experts in the city see the feature as a timely solution for SMEs and service providers who frequently maintain high balances in current accounts. The Sweep Smart facility is now available for eligible Maxima Current Account holders, who can activate it via their relationship managers or at the nearest Ujjivan SFB branch.
