Infinia will be available on both Visa and MasterCard platforms
HDFC Bank said that it has launched India's first ultra-premium credit card for the uber rich. Named Infinia, the card comes with virtually "no limits"?not just in terms of spend, but also the luxuries such customers are accustomed to. The card will be initially offered to a select 5,000 individuals.
Infinia will be available on both Visa and MasterCard platforms. The Bank has a credit card base of 50.5 lakh as of 31 March 2011.
Bima Advantage helps to build wealth and offers protection with an option to double the insurance cover from the inception
Future Generali India Life Insurance has launched Future Generali Bima Advantage, a unit-linked endowment plan. The plan helps to build wealth and offers protection with an option to double the insurance cover from the inception.
The policyholder can opt for enhanced insurance cover to enhance the life cover under the policy, at inception and in the event of demise of the life assured, the enhanced insurance cover sum assured is paid in addition to basic plan sum assured, to the nominee.
On maturity of the policy, fund value as on date will be paid to the life assured. The policyholder can choose to receive the maturity benefit under settlement option through periodical payments after the maturity date for up to five years. On death of the life assured during the settlement period, the fund value will become payable. The plan has term options of 10 to 30 years and is available for customers in the age group of 7 to 65 years.
The basic premiums, net of applicable charges, are invested in unit funds of the customer's choice. Minimum basic sum assured for policy holders between 7 to 45 years, is half the policy term or 10 times the annualised basic premium, whichever is higher. For policy holders aged 45 years & above, the minimum sum assured is 0.25 times the policy term or 7 times the annualised basic premium, whichever is higher.
BNP Paribas Mutual Fund new issue closes on 27th July
BNP Paribas Mutual Fund has launched BNP Paribas Fixed Term Fund-Series 22 C, a close-ended income scheme.
The investment objective of the scheme would be to achieve growth of capital through investments made in a basket of fixed income securities maturing on or before the maturity of the scheme. The tenure of the scheme is two years.
The new issue closes on 27th July. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Alok Singh is the fund manager.