Saturday, 15 June 2013

Micro Investment Facility,Invest in Mutual Funds without PAN No.

Now Investors those who have no PAN No. also can invest in Mutual Funds. Reliance Mutual Fund brings you this facility. This facility is known as Micro Investment Facility. Under KYC norms of Securities and Excahgne Board of India (Sebi) urge that PAN details must be submitted by the investor for investing in any mutual fund schemes. Reliance Mutual Fund introduced this convenient method of investing in Mutual Funds since 14th June, 2013, for small investors those who do not have  a PAN No.

Under Micro Investment Facility an investor who do not have a PAN No. can invest in any Mutual funds Schemes of Reliance Mutual Fund upto Rs. 50000 in a financial year. This limit is the total amount can Micro Investment Facilitybe deposited in a year under this method and includes lump sum and Sip investment. But there is no limit for the redemption of mutual fund.

The Micro Investment Facility is available for individuals, NRIs, minors through Guardian, Sole Proprietorship firms and joint holders who do not have a PAN. For joint holders the first holder should not have a PAN.

Documents Required for Micro Investment Facility

The following documents are required for availing Micro Investment Facility.

1)      Common Application Form

2)      PAN Exempt KYC Reference No (PEKRN) acknowledgement issued by KRA.

These documents should be submitted to any designated service center of Reliance Mutual Fund. The investors can invest only Rs. 50000 in mutual funds in any particular financial year, either in the form of (Systematic Investment Plan) SIP or Lump Sum or both. This will help to spread the span of mutual funds to rural areas also.

Those who are interested to deposit under Micro Investment Facility, please contact the Reliance Mutual Fund on 1800- 300-11111 or email to customer_care@reliancemutual.com

Micro Investment Facility

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