Dec 9 2009

What is ICICI Bank Advantage Deposit scheme?

icici

Introduction

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?

  1. 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.
  2. 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.
  3. Under this scheme, the minimum investment through SIP is Rs 1,000 per instalment.
  4. 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!!

Subscribe to our future articles here.

Related posts:

  1. Equity Linked Savings Scheme(ELSS) u/s 80C Introduction In this article I will be writing about the...
  2. Tata Motors Fixed Deposit(FD) Scheme Introduction In this article I will writing about the...
  3. ICICI Bank offers Special Fixed deposit Interest Rates (Till August 31st, 2009) ICICI Bank offers 0.25% additional interest on their fixed...
  4. What is SIP? Introduction In this article I will be writing about the...
  5. Sejal Glass Ltd.- Fixed Deposit Scheme Sejal Architectural Glass Limited (SAGL), a leading player in the...

File IT Returns online and get 20% discount.

Use the coupon code 'TPI' at the checkout.

5 Comments on this post

Trackbacks

  1. rahul said:

    Cab u please elaborate more on this scheme

    December 9th, 2009 at 10:51 pm
  2. michel said:

    could you please explain about 4th point of this scheme more. need more about its risk, sir!

    December 13th, 2009 at 10:53 pm
  3. ICICI Bank Care said:

    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 17th, 2009 at 12:53 am
  4. krishnas said:

    Hello ICICI Customer Service Team,

    Thank you for helping us.

    Thanks,
    Krishna

    December 17th, 2009 at 1:13 am
  5. vijayaraj said:

    I like our schemes lllllll………..

    February 21st, 2010 at 2:25 am

LEAVE A COMMENT

Subscribe Form

Subscribe to Blog

Free E-Mail Subscription

Investment Products

    Insurance Products - Apply Now!!!

Join our site

Categories

Savings

Best Savings Rates

Compare a wide variety of savings accounts including fixed rate, ISA’s, saving rates, building society rates and bonds. Just enter the amount you want to save and we will find the best savings rates offered by the best financial insitituions.

Debt Management

Debt Management consolidates debt in to one low affordable payment without further borrowing. If yor debt are spiralling out of control then maybe you should consider an IVA.

Credit Card Deals

Transfer your existing store or credit by using a Balance Transfer Credit Card. Find the best credit card offers and deals in the UK including prepaid and cashback and receive 0% rate on credit card balance transfers.

Archives

Finance Blogs