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ICICI Pru Banking & PSU Debt introduces Retail and Premium option

Effective August 25, 2010, ICICI Prudential Mutual Fund has introduced the Retail and Premium option under ICICI Prudential Banking & PSU Debt. The minimum amount is Rs.5000 for Retail option and Rs.25 lakh for Premium option. The scheme has Growth and Dividend (daily and weekly dividend reinvestment facility) as the sub-options. The scheme will charge an exit load of 0.50% if redeemed upto 90 days from the date of allotment for both options.

In addition to this, the scheme will revise the name of the existing option to Premium Plus and changed the minimum application to Rs.1 crore.