Thanks Manish for sharing this very useful investment article.
https://www.jagoinvestor.com/2013/12/review-of-iwish-recurring-deposit-from-icici-bank.html
If fact i have opened i-wish goal. But I have 2 question.
– Banks are giving 4% interest on saving account and i always keep around 5 lakhs in my account for emergency need. Can i switch saving account money to I-Wish account so that i would get higher interest (i,e. 9% for 13 months) and more over anytime we can withdraw the amount. yes there is penalty charges for premature withdrawal (0.50%) but still i would earn 4.95% extra. Please suggest is this good idea?
– What about tax? I am in 30% slab and who would deduct the tax. Does i-wish debit the tax and credit the interest in saving account or i have to declare this interest earning separately while filing tax?
Thanks in advance
~Niraj