If you want to save after your retirement, then this news can prove to be important for you. Actually, State Bank of India i.e. SBI has announced a new scheme Retirement Benefit Fund. Investments can be made in this new fund offer till February 3. Those who want to save for post-retirement can make a profit by investing in a new scheme of SBI Mutual Fund.
Can invest at least Rs 5,000
SBI’s new scheme is named SBI Retirement Benefit Fund Solution Oriented Scheme. Investors can invest in this scheme with a minimum of Rs 5,000. NFO is the new scheme of an asset management company. Through this, the mutual fund company raises money from investors to invest in instruments such as shares, government bonds.
Insurance up to Rs 50 lakhs
SBI Mutual Fund is also providing insurance of up to Rs 50 lakhs 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. Also Read: Home loan: better, floating or fixed rate?
You can withdraw money if needed
this facility is also available in the Retirement Benefit Fund Solution Oriented Fund Scheme. Investors can also take advantage 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.
