UTI MF customers can now purchase units using debit cards

UTI MF is offering its investors an option to invest by using their Visa-enabled debit cards and SBI debit cards

UTI Mutual Fund said it has partnered with online payment gateway Visa Cards to enable its customers to purchase MF units using debit cards.

"UTI MF is now offering its investors an option to invest by using their Visa-enabled debit cards and SBI debit cards," UTI MF said in a statement. "The facility of investing through debit cards will further ease the process of transacting in mutual fund units," UTI AMC group president and chief marketing officer Jaideep Bhattacharya said.

So far UTI MF offered its investors an online investment facility, which enabled them to purchase, redeem, switch units and register for systematic investment plans using the internet banking platform. UTI MF shareholders include State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.  

Visa is a global payments technology company that connects consumers, businesses, banks in more than 200 countries enabling them to use digital currency instead of cash and checks.

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Sundaram MF floats Fixed Term Plan-BH

Sundaram Mutual Fund new issue closes on 26th August

Sundaram Mutual Fund has launched Sundaram Fixed Term Plan-BH, a close-ended income scheme.

The investment objective of the scheme would be to generate income with minimum volatility by investing in debt and money market securities, which mature on or before the maturity of the scheme.

The new issue closes on 26th August. The minimum investment amount is Rs5,000.

CRISIL Short term Bond Fund Index is the benchmark index. Dwijendra Srivastava is the fund manager.

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Reliance MF unveils Fixed Horizon Fund-XX-Series 11

Reliance Mutual Fund new issue closes on 29th August

Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XX-Series 11, a close-ended income scheme.

The investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. The tenure of the scheme is 369 days.

The new issue closes on 29th August. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Amit Tripathi is the fund manager.

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