The solution-oriented retirement linked MF-SBI Retirement Benefit Fund New Fund Offer (NFO) is closing on February 3, 2021.
The minimum initial investment for the scheme is Rs 5,000 and in multiples of Re 1 thereafter. Meanwhile, the minimum additional purchase amount is Rs 1,000 & in multiples of Re 1 thereafter.
The fund offers four plans- aggressive, aggressive hybrid, conservative hybrid and conservative, where investors' money will be primarily invested in equity and equity-related instruments and also in debt and money market securities.
Every plan can take up to 20% exposure to Gold ETFs and up to 10% exposure to REITs or InVITs. Further, each plan has a growth and dividend option.
There is a lock-in for 5 years or until retirement (i.e. completion of 65 years), whichever is earlier. No investor above the age of 65 years will be allowed to subscribe to the scheme.
The minimum SIP amount should be Rs 500 for daily SIP, Rs 1000 for weekly and monthly SIP, Rs 1,500 for quarterly SIP, Rs 3,000 for semi-annual SIP and Rs 5,000 for annual SIP mode.
The investment objective in the NFO is to provide a retirement saving solution through long term diversified investments in major asset classes such as equity, debt, gold etc. The investment made in the plan does not qualify for any tax benefit under Section 80CCC (Within Section 80C).
SBI Retirement Fund offers two investment options- Auto Transfer Plan and My Choice Plan. The fund also provides SIP Insure facility.