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Monday, January 25, 2021

SBI's new scheme: start from Rs 5000, double profit from FD and 50 lakh insurance for free

SBI has announced a new scheme. 
SBI Mutual Fund has launched Retirement Benefit Fund. Professionals and non-salaried people who wish to retire in retirement can invest in the new scheme of SBI Mutual Fund to earn big profits. This new fund offer can be invested till 3 February. SBI Retirement Benefit Fund, is a Solution Oriented Fund, offering 4 schemes in the Risk Profile. Those investing in this scheme through SIP are also getting term insurance cover up to Rs 50 lakh. This new fund offer of SBI has many other benefits. For example, the dividend option has SWP facility and withdrawal on quarterly basis.

Let's know about it…

What is SBI's Retirement Benefit Fund Scheme

If you put it simply, it is an NFO ie New Fund Offer. The name of this scheme is SBI Retirement Benefit Fund Solution Oriented Scheme. It can be invested till 3 February. An investor can start with at least Rs 5,000. NFO is the new scheme of an asset management company. Through this, a mutual fund company raises money from investors to invest in instruments such as shares, government bonds.

What will be the benefit of investing in SBI's Retirement Benefit Fund Scheme

According to the information released by SBI Mutual Fund, the management of this scheme will be done by Gaurav Mehta (Equity ie Stock Market), Dinesh Ahuja (Fixed Income) and Mohit Jain (Foreign Securities i.e. Foreign Stock Market and Bonds).

This fund offers four investment plans. These include Aggressive (equity oriented ie based on stock market), Aggressive hybrid (equity oriented ie based on stock market), Conservation Hybrid (debt oriented ie based on bonds) and Conservative (debt oriented ie based on bonds).

In addition to the stock market and bond market, in every plan there is a plan to invest up to 20 percent in gold ETFs, 10 percent in REIT / InVIT.

Experts say that those who invest in mutual funds will get more returns from FDs here. If you put it in simple words, up to 10 per cent annual profit in mutual funds is made easily. Whereas, only 5 per cent annual return is being given on FD.

Who will get insurance of 50 lakh rupees

SBI Mutual Fund is also giving insurance up to Rs 50 lakh to its customers. Any investor registered under the SBI Retirement Benefit Fund for a period of 3 years and above can opt for term insurance cover. In the event of an accident, the nominee will get a benefit of up to Rs 50 lakh. The specialty of SIP insurance is that the insurance cover will increase in the first three years. Let us tell you that those who register through SIP for more than three years, they will also be provided free life insurance cover.

What more charges will have to be paid for putting money

The express ratio of NFO's aggressive plan is 2 percent in the regular option. In the case of conservative plans, it is 1-1.25 percent. If put in simple words, many expenses of mutual fund house (asset management company i.e. AMC) are included in the expense ratio. On this basis, this ratio is fixed.

What is this SWP

Now another big question arises here, what is this SWP, Systematic withdrawal plan is a kind of facility. Through this, investors get a fixed amount back from the mutual fund scheme.

In how much time, how much money to withdraw, the choice is made by the investors themselves. They can do this work on a monthly or quarterly basis. By the way, the monthly option is more popular. Investors can withdraw only a fixed amount or if they want, they can withdraw capital gains on investment.

You can withdraw money in between

This facility is also available in the Retirement Benefit Fund Solution Oriented Fund Scheme. Investors can also avail the SWP facility on the dividend option in the scheme and withdraw their investments systematically on a quarterly basis. However it will be subject to lock-in period. This facility can help the investor to meet his expenses after retirement.

Investors get many options

SBI Mutual Funds investors can choose the option of their choice under the 'My Choice' facility. In which plan they have to invest.

SBI Retirement Benefit Fund is offering a variety of features. In this, according to age, retirement corpus has also been given the facility to transfer the appropriate investment plan.

There is also a feature of automatic switch, looking at the risk profile after the maximum age associated with the current investment plan has been exceeded. If you say in easy language, people up to 40 years will get an aggressive investment plan.

Aggressive Hybrid Investment Plan will be given to people aged 40-50 years. People of 50-60 years will get Conservative Hybrid and people above 60 years of age will get Conservative Plan. These plans will help in getting coarse returns.

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