If you are worried about the decreasing interest rate of FD during Corona period, then we are telling you about a scheme which is very effective in terms of retirement saving. Experts are also claiming that by investing in the new scheme of SBI, more returns can be obtained from FD.
Delhi: If you want to save after retirement, then State Bank of India ( SBI ) has launched a new retirement benefit fund for you. Those who wish to do Retirement Saving can invest in SBI’s new scheme of Mutual Funds and earn big profits. This new fund offer can be invested only till 3 February.
What is SBI’s Retirement Benefit Fund Scheme
The new retirement benefit fund launch of SBI is NFO ie New Fund Offer. The name of this scheme is 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, a mutual fund company raises money from investors to invest in instruments such as shares, government bonds.
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Who will get insurance of 50 lakh rupees
SBI Mutual Fund is also giving insurance up to Rs 50 lakh to its customers. An investor can opt for term insurance cover under SBI Retirement Benefit Fund for 3 years and more. In the event of an accident, the nominee will get a cover of up to Rs 50 lakh.
What is the expert saying
Experts say that those who invest in mutual funds get more returns from FDs. Mutual funds easily earn up to 10 per cent annually. However, only 5 percent per annum is available on FD.
