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Tuesday 30 October, 2007

FMP update

Given that the CRR has increased in the credit policy yesterday and an unlikely scenario where the bank would increase the interest rates for the borrowers, the banks are likely to decrease the rates for the deposits and hence this could be an opportune to lock up some money in FMPs.

Here are some more launches of FMP that are available in the market at this point of time

Please read the following blogs to get details about what an FMP is and its advantages

1. Why invest in Fixed maturity plans ?

2. Fixed Maturity Plan - FAQ

ICICI Prudential Fixed Maturity Plan Series 38 - 1 Year Plan C
Tenure: 370 Days
Offer open: October 10, 2007
Offer closes: November 15, 2007
Plans: Retail and Institutional
Schemes: Growth and Dividend Payout
Minimum investment: Rs 5000 (for the retail plan) and Rs 2 crores (for the institutional plan)
Cost per unit: Rs 10

ICICI Prudential Fixed Maturity Plan Series 38 - 1 Year Plan D
Tenure: 370 Days
Offer open: October 12, 2007
Offer closes: November 21, 2007
Plans: Retail and Institutional
Schemes: Growth and Dividend Payout
Minimum investment: Rs 5000 (for the retail plan) and Rs 2 crores (for the institutional plan)
Cost per unit: Rs 10

ICICI Prudential Fixed Maturity Plan Series 39 - Eighteen Months Plan B
Tenure: 550 Days
Offer open: October 26, 2007
Offer closes: November 6, 2007
Plans: Retail and Institutional
Schemes: Growth and Dividend Payout
Minimum investment: Rs 5000 (for the retail plan) and Rs 1 crores (for the institutional plan)
Cost per unit: Rs 10

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