Home Loan with a Fixed Deposit or Money Saver Home Loan? Choose Wisely

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Home Loan with a Fixed Deposit or Money Saver Home Loan? Choose Wisely

Paying EMI on your Home Loan and thinking of investing your savings at the same time? What is the first option that comes to your mind? Fixed Deposits? But the problem with Fixed Deposits is the returns on investments are very low. You also have to pay tax on the returns generated from FDs and returns reduce even more.

We have come up with a solution to this problem through our unique product offering - ICICI Bank Money Saver.

Pay EMI on your Home Loan and park your investments in a Money Saver Account. Get assured savings equivalent to the interest rate prevailing on your Home Loan.

Suppose you have a Home Loan of Rs 50 lakh at an interest rate of 9% per annum and you plan to invest Rs 2 lakh for a period of 10 years. Investing in FDs will give you approximately 7% pre-tax returns. However, parking your Rs 2 lakh in a Money Saver Account will give you interest benefit of 9%, equivalent to your Home Loan interest rate, thus giving you a net benefit of 2% per annum on your investments.

Further, there is no lock in period to park your savings. You have complete flexibility to withdraw the funds, anytime, anywhere, as per your convenience.

Transfer your loan to ICICI Bank Money Saver and enjoy the enhanced savings now.