JM Financial MF launches Fixed Maturity Fund-Series XX-Plan B

JM Financial MF new issue closes on 20th September

JM Financial Mutual Fund has launched JM Fixed Maturity Fund-Series XX-Plan B (JM FMF-XX-B), a close-ended income scheme.

The investment objective of the scheme is to generate regular returns through investments in fixed income securities maturing on or before the date of the maturity of the scheme.

The new issue closes on 20th September. The minimum investment amount is Rs5,000. Girish Hisaria and Vikas Agrawal are the fund managers.

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Deutsche MF floats Fixed Term Fund-Series 90

Deutsche MF new issue closes on 8th September

Deutsche Mutual Fund has launched DWS Fixed Term Fund-Series 90 (DFTF-90), a close-ended income scheme.

The investment objective of the scheme is to generate income by investing in debt and money market instruments maturing on or before the date of the maturity of the scheme. The tenure of the scheme is 370 days.

The new issue closes on 8th September. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Index is the benchmark index. Kumaresh Ramkrishnan is the fund manager.

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Syndicate Bank, Tata AIG Life to offer group insurance solution to housing loan customers

Syndicate Bank will offer Tata AIG Life Insurance Group Total Suraksha plan to its housing loan borrowers across all its branches in the country on payment of one time premium

Syndicate Bank has tied-up with Tata AIG life Insurance Company Ltd to provide group life insurance solution to its existing and new housing loan customers. Under this tie-up, Syndicate Bank will offer Tata AIG Life Insurance Group Total Suraksha plan to its housing loan borrowers across all its branches in the country on payment of one time premium.

Tata AIG Life Insurance Group Total Suraksha facilitates comprehensive insurance solution by covering death due to any cause. The product is designed to cover outstanding balance of the loan over the remaining term of the loan. The insurance plan comes with a lot of unique propositions to the principle borrower and co-borrower as well, viz., reducing or level sum assured options, attractive group premium rates, simple enrollment process, faster and simple claim process etc. Moreover, it has 24/7 worldwide coverage and also qualifies for tax exemption under section 80 C of Income Tax Act 1961.

K Devananda Upadhyaya, general manager, Syndicate Bank said, "The legal heirs of the insurer need not carry the burden of repaying the loan in the event of an unfortunate happening for the borrower."

Neetasha Joshi, Senior Vice President and Business Head South India, Tata AIG Life, said, "Both Tata AIG Life Insurance and Syndicate Bank share the common commitment of protecting the interest of the borrowers and safeguarding their families from their liabilities. Under this initiative, we expect to cover about substantial number of customers in the current financial year."

Earlier this year, Syndicate had tied-up with Tata AIG Life to provide insurance solution in the form of microinsurance to its customers covered under Financial Inclusion program across all its branches in the country.

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