Unsecured Overdraft in Savings Account ICICI Bank

remember the more the money you have the less you have option to earn quickly

i mean you can get Rs.10 discount easily on Rs. 100 bargain

but its hard to get Rs.100 discount easily on Rs. 1000 bargain

(depends on the produt but thats the gist of it)

just saying the quantum of money matters:) here you have 15 lakhs, 

you have any successful way to make 20 to 30% in 6 months? 

hmmm stock market will become gamble if you play with 15 lakhs:) dont risk ) not worth the mind torture:)

Thanks for the updates:) its valuable to analyze these data for everyone:)

hmm from the looks of it since its unsecured i dont mind till 18% ROI actually as we will be closing over draft quick so 18% also wont matter as ROI (personal opinion)

but the troubling nature is.... the processing fee... that makes this whole overdraft feature of ICICI worthless in having (my personal opinion). I mean why we need to pay 15k just to keep that account active and next year also same 15k again repeatedly to keep it active? 1% processing fee is 12% p.a grrr so not worth it.

I mostly use secured overdraft account LAS account just for emergency purpose for that 11% to 16% is fine as its secured.. 12% is sweet spot in secured overdraft:)

but this unsecured overdraft from ICICI is too pricy on the processing fee, its just a tricky way to extort fees 

If you are in need of urgency money then activate it but the cost is 15k for it, not worth it so be cautious

too much of cost to maintain this overdraft in ICICI

Check for tata capital overdraft account (secured overdraft they give for 11% around, unsecured i think probably based on CIBIL but should be around 18%) btw secured overdrafts have fixed processing fee of 1000 or 2000 only, unsecured processing fee is 1% or 2% so choose what suites you best with collateral (secured) or not (unsecured)