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.
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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