Franklin Templeton India has launched an Institutional Plan under its income scheme - Templeton Income Builder Account on 23rd September 2002. The minimum subscription amount in the scheme is Rs.100 lacs and multiples of Rs. 25 lacs. Subscriptions are open only for corporates, institutional investors, banks, insurance companies etc (non individuals).
The scheme would charge expenses upto 1%. It would be a no load fund. The redemptions for high value cheques would be honoured in a day. It also offers Direct debit and credit facilities available across prime banks.