INVESTMENT IN ICICI GSIP …IS IT WORTH?

POSTED BY Rahul Sureka ON June 25, 2013 10:14 am COMMENTS (4)

Hi Manish, Is investing in ICICI Guranteed Saving Investment Plan (GSIP) its worth.As few days before one of the person told me about the plan details as follows:

Min premium: 18000/Year

Premium Paying Term : 7 year

Maturity : At the 15th year

As he told me that if ill pay per month 1500 as 18000 per year which is 126000 for 7 year .

After 15 min years ill get most probably triple i.e nearby 378000.

Pls suggest me is the above plan is true and is it worth to invest in.

 

 

4 replies on this article “INVESTMENT IN ICICI GSIP …IS IT WORTH?”

  1. ashalanshu says:

    Dear Ramanan, please consult the issue with IPru people.

    thanks

    Ashal

  2. ramanan says:

    Hi

    I have 2 GSIP policy of 60k and 36k peremium and paid 2 years so far and after reading the reviews, I am sure its a blunder to settle down for such a low ROI. Anyway now I want to make it paid up after paying for one more year and put the rest in PPF.

    My question is if I make it paid up after 3 yrs, document says SA = GMB x (number of premiums paid / Total number of premiums payable). In my case it shud be SA = GMB x 3/7. Not sure what is GMB for me. let us assume it is ZERO, my paid up SA should be =420000 * 3/7 = 1,80,000.

    This amount will be paid on maturity (i.e after 15 years in total) now will this 1,80,000 carry any interest (50% of Gsec) and compounded, this is not explained anywhere in the document.

    Ramanan

  3. Dear Rahul, please do not listen to the agent’s words & calculate on your own, what ‘ll be the return to you for the given set of numbers?

    Thanks

    Ashal

  4. What the agent says will require a return of 10.3% which is nearly impossible for anything that guarantees savings!

    Best to stay away. You can invest in a debt oriented mutual fund like reliance MIP and do better than this.

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