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SBI MF: Introduction of MicroSIP Facility

SBI MF has notified introductioni of MicroSIP falicity within the existing Systematic Investment Plan (SIP) facility under Grwoth options of the following schemes.

  1. Magnum Balanced Fund
  2. Magnum Multiplier Plus
  3. Magnum Contra Fund
  4. SBI Bluechip Fund

The MicroSIP facility is being launched with effect from April 15, 2009.

Minimum Installment Rs. 100
Minimum Redemption Rs. 500
Minimum Tenure of SIP 5 years
Entry Load 2.25%
Exit Load 3% before 2 years
2% after 2 years but before 5 years.

MicroSIP facility will be available only to those investors having Auto/Direct Debit facility with certain banks where the AMC has prior arrangements.