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LIC Bond Fund Introduces Investment Limit for Redemption

LIC Bond Fund, a medium term debt fund has introduced investment slabs on the redemption from the fund. The same came in to effect on October 15, 2001. For amount up to Rs 50 lakh, an exit load of 0.50 percent will be charged, if redeemed within six months. And for amount above this limit but withdrawn within three months, an exit load of 0.25 percent will be applicable.

Previously, the fund charged 0.50 percent on redemption within six months, irrespective of the investment slab.