SBI FMP – Series 24 (1107Days) From 14th Nov – 20th Nov

SBI FMP - Series 24 (1107Days) From 14th Nov - 20th Nov

SBI MF NFO Offers Regular Incomes, Should You Invest?

SBI has launched a new fund offer on 14th November. The NFO opened under a fixed maturity plan. SBI FMP – Series 24 scheme will close on 20th November. SBI’s new NFO commenced under the debt scheme. The units of this scheme will allot on 21st November. It will mature on 1st December 2022.

SBI Fixed Maturity Plan – Series 24 Details

 NFO Name  SBI FMP – Series 24 (1107 Days)
 Fund House  SBI Mutual Fund
 NFO Period  Nov 14, 2019 – Nov 20, 2019
 Entry and Exit Load  Nill
Minimum Investment   5000 /-  and in multiples of Re 1 thereafter

The scheme offers direct and regular plans with growth and dividend facilities. 

Minimum Investment Per Application:

Investors who want to invest in SBI FMP NFO should invest a minimum of Rs 5000 and in multiples of Re 1 thereafter. 

All most all SBI FMP schemes benchmarked against CRISIL Medium Term Debt Index. The current NFO also follows the same benchmark. The scheme will manage by Ranjana Gupta.  

Objects of the Scheme

The main objective of the NFO is to offer consistent returns over the long term and capital growth by investing in debt and money market instruments.

FMPs are closed-ended schemes and have a fixed maturity time. Investors have a chance to pick a plan fit for their investment horizon.

According to the source, the FMP schemes only invests in secured and high safety stocks such as PSU and corporate bonds, government stocks, high rated NCDs, money market securities, and CPs, and CD stocks. 

Disclaimer: This article offers information regarding the scheme. It does not provide any advice or direction to invest. MF investments are fixed to market risk. Please consult your financial advisor before invest.

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