Savings+ is designed to get users in the habit of saving money regularly for their short and medium term goals – like buying a car, taking a family vacation, creating an emergency fund, etc. The product serves as a suitable alternative to traditional saving options. These savings could grow by allowing users to park them in Liquid Funds offered by ICICI Prudential Mutual Fund. Furthermore, such schemes usually have no exit load or withdrawal penalty, which gives users the flexibility to withdraw the funds whenever they need.
Tax Saver+, the second product offered through this partnership, helps users save on their tax by investing in Equity Linked Savings Scheme (ELSS) option provided by ICICI Prudential Mutual Fund. Users can save up to Rs. 46,350 in taxes depending on their tax rate by investing up to Rs. 1.5 lac annually.
ICICI Prudential Mutual Fund and Money View have integrated their systems to make this offering completely digital. To take advantage of these products, the user can create a new account by completing quick and easy paperless application form within the Money View app and start investing through Savings+ and Tax Saver+. The user can not only invest from the app but also manage their portfolio, invest more or withdraw funds (subject to applicability of lock-in period for ELSS) anywhere anytime with just a few taps on the Money View app.