According to the HDFC Bank website, for closure of savings account, the Bank customer, depending on the nature and tenure of his account, will have to pay a fee of Rs500
Private lender HDFC Bank, with the highest proportion of low-cost deposits to total, said that it has raised charges on closure of savings bank accounts and other services as it attempts to hold its customers from flocking to competitors who offer higher rates on these deposits.
According to the HDFC Bank website, for closure of savings account, the Bank customer, depending on the nature and tenure of his account, will have to pay a fee of Rs500 and if the average monthly balance falls below Rs20,000 in non-urban centres, it will charge Rs500 a month.
L&T Mutual Fund new issue closes on 21st December
L&T Mutual Fund has launched L&T Short Term Debt Fund, an open ended debt scheme.
The investment objective of the scheme is to generate returns for investors with a short-term investment horizon by investing in fixed income securities of shorter term maturity. The new issue closes on 21st December. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Bekxy Kuriakose is the fund manager.
ICICI Pru MF new issue closes on 15th December
ICICI Prudential Mutual Fund has launched ICICI Prudential Multiple Yield Fund–Series 2-Plan B, a close-ended income scheme.
The primary objective of the plans under the scheme is to seek to generate returns by investing in a portfolio of fixed income securities/debt instruments. The secondary objective of the scheme is to generate long term capital appreciation by investing a portion of the scheme’s assets in equity and equity related instruments. The tenure of the scheme is 1,100 days.
The new issue closes on 15th December. The minimum investment amount is Rs5,000.
CRISIL MIP Blended Index is the benchmark index. The fund manager Chaitanya Pande will manage the debt portion of investments under the scheme. The equity portion will be managed Mrinal Singh.