In this article I will be writing about the new product launched by ICICI this year. The name of the product is Advantage Deposit scheme. A new product with dual benefits of a fixed deposit and a mutual fund. This post provides more details about that product and whether it is suitable for you. If you have any doubts on that product, please post it in the comments section. Subscribe to our future articles here.
What is ICICI Bank Advantage Deposit scheme?
- It is the combination of fixed deposit and mutual funds scheme. The interest payout of that fixed deposit will be directly invested in the Systematic Investment Plan(SIP) mutual funds.
- Those of you who don’t want to risk your investment, yet like to earn better returns; should consider this product. It offers the safety of a fixed deposit and the returns of an equity fund.
- Under this scheme, the minimum investment through SIP is Rs 1,000 per instalment.
- The minimum SIP amount of Rs 1,000 net of TDS requires an investment of Rs 167,320 which may not be a feasible amount for small investors.
Summary
This product will be useful for those who want to get the higher returns for their fixed deposit scheme. Thank you for reading this article!!
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December 9, 2009 at 10:51 pm
Cab u please elaborate more on this scheme
December 13, 2009 at 10:53 pm
could you please explain about 4th point of this scheme more. need more about its risk, sir!
December 17, 2009 at 12:53 am
Hi,
We’re from ICICI Bank and would be glad to assist you.
Please email us your query and contact details at care@icicibank.com and we’ll be in touch with you.
Regards,
ICICI Customer Service Team
December 17, 2009 at 1:13 am
Hello ICICI Customer Service Team,
Thank you for helping us.
Thanks,
Krishna
February 21, 2010 at 2:25 am
I like our schemes lllllll………..