ICICI Pru MF introduces 36 months plan

ICICI Pru MF new issue closes on 5th October

ICICI Prudential Mutual Fund has launched ICICI Prudential Capital Protection Oriented Fund-Series IV-36 Months Plan, a close-ended income scheme.

The investment objective of the scheme is to protect capital by investing a portion of the portfolio in good quality debt securities and money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities.

The new issue closes on 5th October. The minimum investment amount is Rs5,000.

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Birla Sun Life MF launches Fixed Term Plan-Series DO

Birla Sun Life MF new issue closes on 4th October

Birla Sun Life Mutual Fund has launched Birla Sun Life Fixed Term Plan-Series DO, a close-ended income scheme.

The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.

The new issue closes on 4th October. The minimum investment amount is Rs5,000.

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Standard Chartered launches Approval-in-Principle for credit cards

Standard Chartered Bank is the first bank in the country to offer an instant approval-in-principle decision to customers applying for credit cards online

Standard Chartered Bank has launched Approval-in-Principle (AIP) for customers applying for credit cards online. This first of its kind offering in India, will enable customers to get an instant approval in-principal decision on his/her credit card application.

The approval is given with the help of a net based real-time engine which instantly checks the customers' information against the key bank policy rules and the customers' credit rating through the Credit Bureau. The result is communicated to the customer in a matter of a few seconds. Applications which are approved in-principal have a higher probability of eventually getting a card subject to the Bank's verification of details shared and documentation completion including collection of KYC and income-proof documents.

The service is currently available for customers applying for a credit card online and will subsequently be introduced at the physical branches and partner retail outlets. With the use of a strong technology backbone, a customer can expect to receive a Standard Chartered Bank credit card within in 48 hours.

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