Personal Finance Blog India –

My Target Value Savings Account & M-Invest Facility From DSP-Blackrock Mutual Funds:

My Target Value Savings Account –

Goal Based Investing – Goal is important for any traveller and if destination is known earlier, then things are more easier to plan.DSP Blackrock’s My Target Value Savings Account is based on the principle of goal based investing and to focus on your goals.

It is facility being offered by DSP Blackrock Mutual Funds where investor can specify a predetermined target value of his / her choice.

One can choose target value starting from Rs.25 lakh and in multiples with maximum limits of Rs 1 crore.

How Target Value Saving Account Works:

  1. New as well as existing investors can opt for this goal based investing facility.
  2. Investor can invest in any scheme of DSP-Blackrock like equity,debt,MIP or liquid fund through this folio.
  3. Personalized Account Statement – Investor will receive a persoanalized account statement which gives investor updated information of your investment details.
  4. Investor get updates on where you stand with regard to your desired goal.
  5. Investor will be updated annually as well when 90% of the the specified goal is reached.
  6. Please note that investor can redeem any time their investment.

What Happens when Target Value is reached – When target value is reached then whole capital will be switched to Liquid fund of DSP-Black Rock i.e.its money manager fund.Investor can also specify choice of their scheme in which they wish to switch whole capital.

m-Invest Facility from DSP-Blackrock MF –

Now invetsor of DSP-Blackrock mutual funds can purchase, redeem their investments through sms and call .Transactions are possible only through registered mobile number.

m-invest Process –

  • First investor need to register for m-Invest facility,by submitting a simple application form similar to ECS facility.
  • Transact via sms – 

Purchase – SMS INV space<amount> to 567672855.

Redeem – SMS RED Space<amount>to 567672855.

  • Transact Via Call –

Purchase  – Call 1800 200 4499 and speak to representative.

Redeem – Call 1800 200 4499 ,Use your PIN and Speak to representative.

  • Purchase /Redemption is possible in terms of amount only, not in terms of units.
  • m-invest facility is available for selected schemes and selected banks only – Allahabad Bank,Axis Bank,BOB,Bank Of India,Citibank,Corporation Bank,Federal Bank,IDBI Bank,IndusInd Bank,Kotak Mahindra bank,PNB,SBI,UCO bank,Union Bank Of India.
  • Please read all terms and conditions before opting for this facility.

Facility of Target Savings Account is unique but it depends upon investor how much they wish to  concentrate on schemes of DSP Blackrock though their returns are competitive. This is not a revolutionary concept but a one step ahead and investor can think to opt for it.




Category: Mutual Funds

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