SBI MF Launches SBI Fixed Maturity Plan, Minimum Investment Starts At Rs 5000; Last Day To Subscribe Is Dec 28

SBI MF NFO: SBI Mutual Fund (SBI MF) has recently launched a fixed-income plan in the debt category. The NFO SBI Fixed Maturity Plan (FMP)-Series 91 (90 Days) opened for subscription on Tuesday (December 26, 2023). The last day to subscribe to the scheme is December 28, 2023. SBI's newly launched fixed-income plan falls in the debt category. SBI's Fixed Maturity Plan Series is a close-ended debt scheme that comes with a relatively low-interest rate risk and comparatively high credit risk.

The scheme is best suited to those investors who want to achieve capital growth along with income during the tenure of the scheme or invest in debt, money market instruments, or government securities.

Objective of this scheme:

The scheme is intended to offer investors a regular income and potential capital growth while minimizing the interest rate risk. NFO SBI Fixed Maturity Plan (FMP)-Series 91 (90 Days) achieves this objective by investing in a portfolio of debt instruments maturing on or before the scheme's maturity date. However, one must note that there is no guarantee that the scheme will achieve this investment objective.

What is the minimum investment amount to invest in this scheme?

In this scheme, investors can make a minimum investment of Rs 5000 per plan/option and in multiples of Re 1. There is no upper limit for investment.

The benchmark of the scheme will be the CRISIL Liquid Debt Index. There is no entry and exit load in the scheme. The risk level in this scheme is in the low to medium category.

No redemption/repurchase of units shall be allowed prior to the maturity of the scheme. Redemption will be allowed on the maturity of the scheme. The scheme is proposed to be listed on the BSE within 5 business days from the date of allotment. Investors can trade on the exchange and Investors wishing to exit may do so, through BSE or any other stock exchange where the scheme will be listed.

Switch In:

Investors can switch to the Scheme from the existing Schemes of SBI Mutual Fund (subject to completion of the Lock-in Period, if any) during the New Fund Offer Period.

Switch Out:

Investors can switch out from the scheme only at the time of the maturity of the scheme. However, the Scheme provides a switch-out facility, under which investors will have the option of giving a switch request at the time of investment for switching the entire corpus on maturity in any open ended scheme of the SBIMF.

If an investor has opted for a switch-out at the time of investment & wishes to change the switch-out option, the investor has to give the written request, 30 days in advance before the maturity date.