POSTED BY February 1, 2013 11:15 pm COMMENTS (4)ON
I welcome your views on using SBI Maxgain facility as savings option for a short term goal.
The goal is 20 months away and the corpus required is approx Rs. 2,30,000.
As i understand, investing 10,000 monthly extra into maxgain and reinvesting the interest saved will accumulate corpus that grows at the rate 10.15% (Homeloan ROI) which seems to be better than FD or RD.
Please share your views.
Note: i might be incorrect on my calculation for the final corpus of 2.3L at the end of 20 months.