New Delhi: If you want to save after retirement, then this news can prove to be important for you. State Bank of India, ie SBI has announced a new scheme Retirement Benefit Fund. Investments can be made in this new fund offer till tomorrow i.e. February 3. Those who want to save for post-retirement can make a profit by investing in a new scheme of SBI Mutual Fund. The new scheme of SBI is named SBI Retirement Benefit Fund Solution Oriented Scheme.
Start with at least 5,000 rupees
This is an NFO ie New Fund Offer. The scheme is named SBI Retirement Benefit Fund Solution Oriented Scheme. It can be invested till 3 February. Investors can start with at least Rs 5,000. NFO is the new scheme of an asset management company. Through this, a mutual fund company raises money from investors to invest in shares, government bonds, etc.
Return will be more than FD
The fund offers four investment plans. These include Aggressive (based on the stock market), Aggressive hybrid (based on the stock market), Conservation Hybrid (based on bonds) and Conservative (based on bonds). In addition to the stock market and bond market, there are plans to invest up to 20 per cent in gold ETFs, 10 per cent in REIT / InVIT in every plan. Experts say that those who invest in mutual funds will get more returns from FDs here. Mutual funds easily get up to 10% per annum, whereas, FDs are currently yielding only 5% per annum.
50 lakhs insurance
SBI Mutual Fund is also offering insurance up to Rs 50 lakh to its customers. Under this, any investor can opt for term insurance cover under SBI Retirement Benefit Fund for three years and longer. With this, the nominee will get a cover of up to Rs 50 lakh in case of an accident. The specialty of SIP Insurance is that the insurance cover will increase in the first three years.
You can withdraw money in between if needed
This facility is also available in the Retirement Benefit Fund Solution Oriented Fund Scheme. Investors can also avail of the SWP facility on the dividend option in the scheme and withdraw their investments systematically on a quarterly basis. However it will be subject to lock-in period. This facility can help the investor to meet his / her expenses after retirement.
SBI gave new year gift to senior citizen
State Bank of India (SBI) has given a big gift to its senior citizen customers. The bank is giving seniors the highest earning opportunity on savings. There is good news for senior citizens (people above 60 years of age) making a Fixed Deposit (FD) in SBI. Additional interest rate can now be availed till March 2021 under SBI VCare deposit.
