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Reliance – Any Time Money Card:


 

Liquidity is always a main concern of any mutual fund investor.A traditional redemption process involves submission of redemption form and then money is credited to bank account or cheque is received as per facility opted by investor.Reliance mutual fund offers investors an additional liquidity instrument Viz.Reliance Any Time Money Card.

  1. Reliance Any Time Money Card is similar to Bank ATM card and investor can withdraw money anytime   from HDFC ATM centres.
  2. Individuals,who have applied through cheque, can only apply to this card.HUFs,Socities,Minors,Public/Private companies can not apply for this card.
  3. Investors can liquidate max upto 50% of their holding OR permissible limit set by the bank per day,,which one is lower.
  4. Investors can use card outside India also,within limits and regulations set by RBI time to time.But all international transactions done through Reliance any time money card shall be charged for this facility.
  5. This is only additional redemption facility.Investors are free to use the traditional redemption processes.
  6. SEBI guidelines on uniform cut off timings of redemption  will be applicable.
  7. Investors should take care of changes made in usage of Reliance money card time to time from Reliance mutual fund.
  8. Currently this facility is available for Reliance Growth fund,Reliance Vision Fund,Reliance Equity Opportunities,Reliance Income Fund,Reliance short term fund,Reliance Monthly income fund,Reliance equityadvantage fund,Reliance regular saving fund,Reliance Natural resources fund,Reliance Infrastructure Fund,Reliance arbitrage fund,Reliance Index fund,Reliance small cap fund.

Category: Mutual Funds

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Information provided on this blog is for general purpose only & not investment advice.Please take advice of SEBI Registered Investment Advisors before taking any investment decision.
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