Wednesday, July 13, 2016

RELIANCE ANY TIME MONEY CARD ...A must for all now with simply save features

Plastic money is a popular way of accessing a bank account or a credit account today for withdrawing cash or shopping but what if you could bring the same convenience to your mutual fund portfolio? Presenting Reliance Any Time Money card that combines the benefits of mutual fund investments along with the convenience of a debit card. While traditional Mutual Fund investments offer the potential to earn market-linked returns with benefits of diversification, relatively low cost, liquidity, and professional management, accessibility to investments in these funds, mostly provided through physical redemptions, though high, is not instantaneous. The Reliance Any Time Money Card offers instant accessibility and liquidity to investors of mutual fund . So, now you can have access to your investments day or night. While your investments are earning their returns, they are also available to you all the time at your convenience.

With new Features that are going to be added to the RELIANCE ANYTIME MONEY CARD (popularly known as RELIANCE ATM CARD), a revolution is on cards with funds expected to pour into Liquid Funds from SB A/c.
Lets get to know these features but before that let us try to understand whether we need Liquid Funds at all.

Why Liquid fund and not a Saving account :

We have discussed this many times before in my earlier post 

LEARN B4 YOU EARN...2 but still I would like to do so one more time for the new readers that keep pouring into my Blog every day.

There has been and there will always be a gap of 1% in FAVOUR of Liquid Funds.
In fact, majority of Liquid funds have giving returns on par with Fixed Deposits and we all know that FD returns are more than SB A/c returns.

Liquid Funds invest in Very Short Term Market instruments and thus are the least risky and least volatile category of Funds

It is only when you have LARGE amount (like in excess of Rs.1 lakh) that some Banks offer you higher interest (6% or so) where as Liquid Funds irrespective of your investment give you the same return without any bias.

And now, coming to RELIANCE MONEY MANAGER FUND (the ATM facility is however, available for ALL RELIANCE MUTUAL FUNDs), the advantage over Savings Bank Account is that you not only get all the Convenience of a Regular SB A/c but also potential Higher Returns!

Actually RELIANCE MONEY MANAGER FUND and RELIANCE LIQUID FUND is treated as Primary Fund and all the other funds you have invested in Reliance AMC schemes (like say Reliance Pharma Fund, Reliance Growth Fund) will be secondary funds.

One can know about AMAZING FEATURES OF RELIANCE ANYTIME MONEY CARD : in my earlier post or simply visiting  this link RMF to view a long lengthy list of features of RELIANCE ANYTIME MONEY CARD.

Here, I am just draw some quick and simple illustration of RELIANCE ATM CARD :

-Cash withdrawal facility at Visa enabled ATMs and purchase transactions at merchant establishments just like a regular debit card in India.

-Daily Visa enabled ATM cash withdrawal limit of 50% of the balance in the primary scheme account or up to permissible limit determined by the bank or ` 50,000 whichever is lower.

-Daily purchases limit of 50% of the balance in the primary scheme account* or ` 100,000 whichever is lower

-Fuel surcharge waiverFree SMS and E-mail alerts on every transaction

-Primary scheme account gives you the flexibility to access your funds at all Visa enabled ATMs and merchant establishments across India

-Primary scheme account can only be either Reliance Liquid Fund - Treasury Plan/ Reliance Liquid Fund – Cash Plan/ Reliance Money Manager Fund.

Now come to the new features added to this scheme :

1. The Withdrawal Limit has now been enhanced from Rs.50,000 by 4 times to Rs.2,00,000

2. If the investor is redeeming the money from Reliance Mutual Fund's app SIMPLY SAVE (which is so easy to transact), the investor can redeem upto 95% of his investment with just a click of button on his Mobile!
How more simple can redeeming your funds can get??!!

3. Third and the BIGGEST feature that has been added is that about the Redemption. Normally, in any Liquid fund, the redemption proceeds get credited to your Account the Next Working Day (T+1).

But, now, Reliance has promised that your Redemption Proceeds from theRELIANCE MONEY MANAGER fund will get credited to your SB A/c within 30 minutes (yes, you read it right, within Thirty minutes)....How fast can it get?

4.You can also download an application SIMPLY SAVE by going to this link to your android phone for one touch in and out of your money.

The new Features introduced in Reliance ATM Card has made the product more appealing.
As an Financial Consultant, I always recommend my clients to must have this in your portfolio.

So, what are you waiting for???

Switch your money laying in the Savings Account to RELIANCE MONEY MANAGER FUND/RELIANCE LIQUID FUND right now and enjoy.

Source : RMF

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