With effect from April 02, 2002, HDFC Mutual Fund has reduced the minimum investment and minimum withdrawal amount to Rs 500 and in multiples of Rs 100 thereafter in its following schemes - Growth Fund, Balanced Fund, Income Fund, Children's Gift Fund, Gilt Fund and Short-term Plan.
Currently, these funds require a minimum investment of Rs 3,000 and in multiples of Rs 1,000 therof. And for withdrawal, the minimum amount is Rs 1,000.
The above reduction is also valid for investors opting for SIP/SWP facility. Prior to this, minimum initial investment was Rs 1,000 and in muliples of Rs 1,000 thereafter under the SIP.