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Key Takeaways of Mahindra Mutual Fund Kar Bachat Yojana
Last Updated : April 14, 2017, 11:07 a.m.
Mahindra Asset Management Company Pvt. Ltd. (MAMCPL) , the investment manager to Mahindra Mutual Fund and a wholly owned subsidiary of Mahindra Finance, has launched Mahindra Mutual Fund Kar Bachat Yojana, an open-ended Equity Linked Savings Scheme (ELSS) with a lock-in period of three years. The New Fund Offer (NFO), which closes on 7 th October, 2016, will open again for continuous sale and repurchase from 19 th October, 2016. Want to know the newly launched scheme in detail? Look below to read the same.
Scheme Features & Benefits
- An open-ended equity linked savings scheme with a lock-in period of 3 years
- You can purchase the units anytime during and after the NFO
- Asset allocation will be 80-100% in equity and 0-20% in debt instruments
- Redemption of units possible after 3 years from the date of purchase
- Wide scope for capital appreciation with investments into equity securities
- Tax Benefits under Section 80C of the Income Tax Act
- Offers opportunity to accumulate a tax-free corpus over the long-term, on investments outside the purview of 80C
- Corpus can be used to purchase a home, ensure enhanced financial security or improve the lifestyle.
Plans & Options
- Plans- Regular & Direct
- Options-Dividend & Growth
- Sub-options/Facilities- Dividend Payout
Min Investment & Other Details
| Minimum Application Amount Required | Rs 500 and in multiples of Rs 500 afterwards |
| Minimum Amount Required for Additional Purchase | Rs 500 and in multiples of Rs 500 afterwards |
| Minimum Amount Required for Repurchase | Rs 500 or 50 units or account balance, whichever is lower |
| Minimum Amount Required for SIP | Rs 500 per month and in multiples of Rs 500 afterwards. Rs 1,500 per quarter and in multiples of Rs 500 afterwards |
| Total Number of Installments | 4 and 6 in monthly and quarterly SIP, respectively |
| Dates of SIP Transaction | 1 st , 5 th , 10 th , 15 th , 20 th or 25 th of every month or 1 st , 5 th , 10 th , 15 th , 20 th or 25 th of every calendar quarter from Jan-March, April-June, July-September, October-December |
| Mode of Payment | Electronic Clearing Service (ECS), Post-Dated Cheques (PDCs), National Automated Clearing House (NACH) Facility |
| Entry Load | Not Applicable |
| Exit Load | NIL |