Mutual funds is an better alternative for fixed deposit in longer term. Here we have another benefit from mutual funds for better returns, Mutual funds with debit cards. It provides two advantages one is short term investment which would give better return than saving account. The next is ATM cum Debit card to withdraw invested money for spending.
Liquid mutual funds gives dual benefit of a possible higher returns than saving account without compromising on liquidity by allowing instant withdraw using ATM card.
NIPPON INDIA ANY TIME MONEY CARD :
The Nippon India Any Time Money Card offers instant accessibility and liquidity to investors of mutual fund . So, now you can have access to your investments day or night. While your investments are earning their returns, they are also available to you all the time at your convenience.
FEATURES OF NIPPON INDIA ANYTIME MONEY CARD:
- Cash withdrawal facility at Visa enabled ATMs and purchase transactions at merchant establishments just like a regular debit card in India.
- Daily Visa enabled ATM cash withdrawal limit of 50% of the balance in the primary scheme account or up to permissible limit determined by the bank or ` 50,000 whichever is lower
- Daily purchases limit of 50% of the balance in the primary scheme account* or ` 100,000 whichever is lower
- Fuel surcharge waiver
- Free SMS and E-mail alerts on every transaction
Equity mutual funds for long term financial goals, not for day-to-day spending.
Which fund to invest to get card:
If you invest in
These 3 schemes are called the ‘Primary Schemes’. bank savings interest rates range from 4-7 per cent depending on the bank in which you have your account; liquid funds on an average have given more than 9 per cent in the past one year.
How to withdraw the money:
From any Visa-powered ATM, you can withdraw cash from your primary scheme, find out your investment balance in primary scheme. From a HDFC Bank ATM, you can withdraw cash from any eligible scheme linked to your card, find out your investment balance,from any Point of Sales (PoS) terminals, you can spend using your card. Your expenses will be withdrawn from your primary scheme.
The difference between FD, Saving account and Investing in liquid mutual funds for one lakh rupees as below,
Nippon India Liquid Growth Direct Plan : Rs. 1,72,113 (8% return)
Fixed Deposit: Rs. 1,56,652 (6.5% return)
Bank Savings: Rs. 1,27,787(3.5% return)
Investing in liquid mutual funds with card would be better option for mutual funds new investor. It would be best option to park the day-to-day saving money. Card issuance fees and annual fees also “zero” for the Nippon India anytime card.
This is for People who is looking for mutual funds with convenience of a Bank account facilities with better returns. Start your Nippon India Liquid mutual funds to park your day-to-day spending. Happy Investing:)
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