The prime objective of scheme is to deliver the benefit of investment in a portfolio of equity shares, while offering tax rebate on such investments made in the scheme under section 80 C of the Income-tax Act, 1961. It also seeks to distribute income periodically depending on distributable surplus. | |
| Instrument | % of Portfolio of Plan A & B | Risk Profile | | Equity,PCD’s and FCD’s and bonds | 80-100% | Medium to High | | Money market instruments | 0 – 20% | Low | |
1. There is a statutory lock-in period of three years for investments in a Tax Saving Scheme (irrespective of the fact whether the investors claim the rebate u/s 80C or any other section or not).
2. Dividends may be declared depending on distributable profits of the scheme. Facility to reinvest dividend proceeds into the scheme at NAV.
3. Switchover facility to any other open-ended schemes of SBI Mutual Fund at NAV related prices available after the statutory lock-in period. | | Launch Date | Minimum Application | | March 31, 1993 | Rs. 500 and Multiples of Rs 500 | Entry Load | Exit Load | Investments below Rs. 5 crores - 2.25% Investments of Rs.5 crores and above - NIL | Nil | SIP | SWP | Rs.500/month - 12 months Rs.1000/month - 6months Rs.1500/quarter - 12 months | A minimum of Rs. 500 can be withdrawn every month or quarter by issuing advance instructions to the Registrars at any time. This facility is available only after the lock-in period of three years. | |
| Plan | Latest Nav | Date | | Magnum Tax Gain Scheme - 1993 - Dividend | 41.4 | 11/04/2008 | | Magnum Tax Gain Scheme - 1993 - Growth | 50.95 | 11/04/2008 | |
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