I do this all the time, except I use git worktree to have the same Git repository checked out in multiple folders.
This saves me from having to have separate clones per branch, it's just one single repo clone checked out in multiple places.
It also means that each worktree folder sees any other worktree folder's commits and references (since they're sharing the same .git folder) meaning that I only have to fetch once and all the worktree folders have all the commits available to them."