ICICI Securities has launched online Fixed Deposits (FDs) offerings of various tenures from ICICI Bank. These would be sold online, making another investment proposition for the customers.
The company, till date, in the fixed income space, has distributed products like corporate FD and Bonds, Non-Convertible Debentures, Sovereign Gold Bonds (SGBs), 7.75 per cent Savings (Taxable) Bonds and the National Pension Scheme (NPS) products. The company says it would come one step closer towards meeting the complete financial requirement of an individual, with the bank fixed deposit offering on ICICI Direct, and the trading and investment platform of I-Sec.
Kedar Deshpande, Head Retail, Product and Services group, ICICI Securities, said, “Bank deposits continue to remain an integral part of an investor’s overall portfolio, especially in volatile and uncertain times like these, when a section of investors seeks avenues to park their surplus funds in stable bank deposits.” He added, “We plan to further strengthen this offering by launching other deposit variants like RDs, etc. so that customers can meet their goal-based investment objectives. We are looking to cater to all the 3 financial needs of the customer – investments, assets, and protection— and we will be launching more such initiatives in the near future.”
ICICI Securities distribution business includes the sale of financial products like mutual funds, general and health insurance, NPS, SGBs, AIFs, PMS, home loans, personal loans, Corporate FD and Bonds, accounts for about a quarter of its revenues.