SBI Mutual Fund has decided to introduce weekly SIP frequency under Systematic Investment Plan with effect from August 24, 2015. Minimum amount for weekly SIP will be ₹1000 for all the schemes except SBI Magnum Taxgain Schemes. For SBI Magnum Taxgain Scheme, minimum SIP will be ₹500. Weekly SIP will be done on 1st, 8th, 15th and 22nd of the month with minimum 6 installments required.
Additionally, the fund house has decided to discontinue the Bonus Option under SBI Magnum Income Fund with effect from August 24, 2015.
The fund house has also decided to declare dividend under SBI Fixed Interval Debt Series 90 Days 1 Direct-D and SBI Fixed Interval Debt Series 90 Days 1 Reg-D. The quantum of dividend will be the entire distributable surplus as on the record date. The record date has been fixed as August 26, 2015.