NE BUSINESS BUREAU
MUMBAI, APRIL 21
ICICI Securities on Monday announced the launch of online Fixed Deposits (FDs) offerings of various tenures from ICICI Bank, thereby further expanding its distribution business. These would be sold online, making it yet another investment proposition for the customers, a company release said.
To date, in the fixed income space, the company distributed products like Corporate FD & Bonds, Non-Convertible Debentures, Sovereign Gold Bonds (SGBs), 7.75% Savings (Taxable) Bonds and the National Pension Scheme (NPS) products. With the bank fixed deposit offering on ICICI direct, the trading and investment platform of I-Sec, the company would come one step closer towards meeting the complete financial requirement of an individual.
“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 seek avenues to park their surplus funds in stable bank deposits. The launch of this facility on our portal in that context is very timely. 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. Our journey towards truly becoming a one-stop financial supermarket catering to all the three financial needs of the customer – investments, assets, and protection—is an on-going one and we will be launching more such initiatives shortly,” said Kedar Deshpande, Head Retail, Product and Services group, ICICI Securities Ltd.
I-Sec’s distribution business includes the sale of financial products like MFs, general and health insurance, Corporate FD & Bonds, NPS, SGBs, AIFs, PMS, home loans, personal loans, accounts for about a quarter of its revenues. The company has a network of 178 ICICIdirect branches and a nationwide network of 8,600+ business partners, consisting of sub-brokers, authorized persons, IFAs & IAs
