Max New York Life introduces monthly income plan

Consumers can choose either 6 years or 11 year policy term depending on their financial goals

Private insurer Max New York Life Insurance today launched a 'Guaranteed Monthly Income Plan' which promises a regular income flow.

"Guaranteed Monthly Income Plan has been designed with an objective of filling in this gap of extra income and securing one's future in the years when household needs are at its peak," Max New York Life Insurance CEO and MD, Rajesh Sud, said in a statement. The plan offers flexibility to choose policy terms.

Consumers can choose either 6 years or 11 year policy term depending on their financial goals.

It also offers comprehensive death benefit to ensure that the policy objectives are fulfilled even in case of such an exigency.

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SBI Mutual Fund floats Debt Fund Series-90 days-48

SBI Mutual Fund new issue closes on 2nd August

SBI Mutual Fund has launched SBI Debt Fund Series-90 days-48, a close-ended income scheme.

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, AAA/AA+ bonds and money market instruments maturing on or before the maturity of the scheme. The tenure of the scheme is 90 days.

The new issue closes on 2nd August. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.

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ICICI Prudential MF unveils Multiple Yield Fund-Plan C

ICICI Prudential Mutual Fund new issue closes on 12th August

ICICI Prudential Mutual Fund has launched ICICI Prudential Multiple Yield Fund-Plan C, a close-ended income scheme.

The investment objective of the scheme is 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 new issue closes on 12th August. The minimum investment amount is Rs5,000. CRISIL MIP Blended Index is the benchmark index.

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