SBI Magnum Monthly Income Plan Benefits
SBI is here with another important plan in this bracket, defined as SBI Magnum Monthly Income Plan. It is also known as SBI MMIP investment plan, meant for government securities, money market instruments and corporate debt. It also gets a smaller portion of the equity firm. The equity portion is likely to get invested in various market stocks. The main objective of this present scheme is to offer liquidity, regular income and attractive returns to the chosen investors. It is done through actively managed debt portfolio, money market instruments and equity forum.
Key benefits to look for for month income plan:
With the help of SBI Magnum Monthly Income Plan, you will get a perfect fit in a balanced fund and bond fund. With the help of this plan, you have the liberty to choose among corporate, sovereign and other money market instruments. Moreover, you even have flexibility to rather invest an amount to 15% of portfolio in the equity market.
This scheme is mainly defined as a suitable plan for those investors, who are looking for long-term capital appreciation and present income. It is also made suitable for other investors seeking investment in equity related market instruments and other fixed income securities.
It comes with tax efficiency:
While planning to choose this plan as your mutual fund with the available growth option can be the best way to enjoy this plan more.
Dividend income is more or less subject to dividend distribution tax, within a rate of 28.84%, especially for the HUF or individuals. Any other investors, who are willing to look for SWP for growth are more likely to pay some short term capital gain tax, or can even look for the long term policy. It solely depends on the investment periods.
One of these effective points is to stay with SWP after three years of investment date. It displays that withdrawals are meant for long term capital gain tax.