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.
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 :
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).
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.