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Key Takeaways of Mahindra Mutual Fund Kar Bachat Yojana

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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 7th October, 2016, will open again for continuous sale and repurchase from 19th 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 RequiredRs 500 and in multiples of Rs 500 afterwards
Minimum Amount Required for Additional PurchaseRs 500 and in multiples of Rs 500 afterwards
Minimum Amount Required for RepurchaseRs 500 or 50 units or account balance, whichever is lower
Minimum Amount Required for SIPRs 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 Installments4 and 6 in monthly and quarterly SIP, respectively
Dates of SIP Transaction1st, 5th, 10th, 15th, 20th or 25th of every month or 1st, 5th, 10th, 15th, 20th or 25th of every calendar quarter from Jan-March, April-June, July-September, October-December
Mode of PaymentElectronic Clearing Service (ECS),
Post-Dated Cheques (PDCs),
National Automated Clearing House (NACH) Facility
Entry LoadNot Applicable
Exit LoadNIL
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