HDFC Mutual Fund has decided to introduce daily interval with fixed systematic plan in addition to existing Fixed Systematic Plan Weekly interval, Fixed Systematic Plan Monthly interval, Fixed Systematic Plan Quarterly interval. The features of Fixed Systematic Plan Daily interval are
Fixed Systematic Plan Daily interval will be available for enrollment with effect from 24 December 2007.
Fixed Systematic Plan Daily interval unit holders are eligible to transfer a fixed amount i.e. minimum 1,000 units and in multiple of Re 1 thereafter for the schemes other than HDFC Long Term Advantage Fund and HDFC Tax Saver and minimum Rs 500 and in multiple of Re 1 thereafter for HDFC Tax Saver and HDFC Long Term Advantage Fund.
There should be minimum 6 installments for enrolment under Fixed Systematic Plan Daily interval. Also the minimum unit holder account balance or the minimum amount of application at the time of enrolment should be Rs 12,000.
The application for enrollment for Fixed Systematic Plan Daily interval should be submitted at least 10 days before the commencement date for Fixed Systematic Plan Daily interval.
Unit holders will have the right to discontinue Fixed Systematic Plan Daily interval at any time. The termination will be effective from 7th business day from the date application.
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