With new Features that are going to be added to the RELIANCE ANYTIME MONEY CARD (popularly known as RELIANCE ATM CARD), a revolution is on cards with funds expected to pour into Liquid Funds from SB A/c.
Lets get to know these features but before that let us try to understand whether we need Liquid Funds at all.
WHY LIQUID FUNDS?
I have always advocated that EVERY investor regardless of his Financial Stature should mandatorily have a Liquid Fund in his portfolio. This fund could be for his Emergency, for his Day to day expenses, anything that is needed at a short notice.
Why Liquid fund and not a SB A/c?
We have discussed this many times before but still I would like to do so one more time for the new readers that keep pouring into my Blog every day.
There has been and there will always be a gap of 1% in FAVOUR of Liquid Funds.
In fact, majority of Liquid funds have giving returns on par with Fixed Deposits and we all know that FD returns are more than SB A/c returns.
It is only when you have LARGE amount (like in excess of Rs.1 lakh) that some Banks offer you higher interest (6% or so) where as Liquid Funds irrespective of your investment give you the same return without any bias.
And now, coming to RELIANCE MONEY MANAGER FUND (the ATM facility is however, available for ALL RELIANCE MUTUAL FUNDs), the advantage over Savings Bank Account is that you not only get all the Convenience of a Regular SB A/c but also potential Higher Returns!
Actually RELIANCE MONEY MANAGER FUND and RELIANCE LIQUID FUND is treated as Primary Fund and all the other funds you have invested in Reliance AMC schemes (like say Reliance Pharma Fund, Reliance Growth Fund) will be secondary funds.
AMAZING FEATURES OF RELIANCE ANYTIME MONEY CARD :
Clicking on the reliance mutual website https://www.reliancemutual.com/investor-services/innovative-products/reliance-any-time-money-card will give you a long lengthy list of features being given but some of the prominent ones which made me personally put my money in RELIANCE MONEY MANAGER FUND are :
2. Purhase Transactions at Merchant Establishments
3. Withdrawal of upto 50% of Balance in Primary Scheme (say, Reliance Money Manager Fund) or Rs.50,000 (whichever is lower)
There is absolutely no charges for using this Card Facility.
HOWEVER LIKE A "SONE PE SUHAGA" Reliance AMC has gone ahead and made some changes and added new ones which has made the RELIANCE ANYTIME MONEY CARD an absolute MUST HAVE in any investors portfolio.
The new features are :
1. The Withdrawal Limit has now been enhanced from Rs.50,000 by 4 times to Rs.2,00,000.Wow! Keeping with the times., eh
2. If the investor is redeeming the money from Reliance Mutual Fund's app SIMPLY SAVE (which is so easy to transact), the investor can redeem upto 95% of his investment with just a click of button on his Mobile!
How more simple can redeeming your funds can get??!!
3. Third and the BIGGEST feature that has been added is that about the Redemption.
Normally, in any Liquid fund, the redemption proceeds get credited to your Account the Next Working Day (T+1).
The new Features introduced in Reliance ATM Card has made the product more appealing.
I am no salesman for Reliance Mutual Fund but I am ready to become one simply due to this amazing features that Reliance AMC added.
So, what are you waiting for???
Switch your money laying in the Savings Account to RELIANCE MONEY MANAGER FUND/RELIANCE LIQUID FUND right now and enjoy.
So, in a nutshell, the new features are :
Reliance Mutual fund has introduced instant redemption in flagship fund Reliance money manager fund. Investor will receive credit in their account within 30 Mts of submitting redemption request through Reliance website. It works 365 days and 24x7. Bank should be IMPS enabled.
Maximum amount is 200000/- or 50% of the current value whichever is lower.
Maximum redemption amount is lower of
95% of fund value in Reliance Money Manager OR
As usual, you are requested to contact your Financial Advisor before taking any Investment Decision and the Author is not liable for losses arising out of any Transaction taken due to the above article or any material published in this blog. The information shared here is only a point of view and for information purose only.
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