South Indian bank has a strong presence in Kerala with about 300 CBS branches, signed an agreement with Birla Sun Life Mutual Fund for making easy online Mutual Fund investment and utility bill payments by its net banking customers. Speaking at the inaugural function held at Taj Residency, Ernakulam ,Mr.M.Valsan, Executive Director of South Indian Bank told that with this arrangement large number of NRI customers and young account holders of the bank will be highly benefited.
Mr.Valsan added being a tech-savvy Bank with a CBS network of 502 branches, it has an aim to offer more and more convenience and novelty in banking to its customers.
Mr.Kalpen Parekh,National Head-Sales of Birla Sun Life Mutual Fund ,Mr.Alex Mathew,General Manager, ,Mr.C.J.Jose Mohan ,Dy.General Manager and Mr.A.Narendran Asst.General Manager of South Indian Bank were also present and spoke on the occasion.
Birla Sun Life Mutual Fund in the past few years has emerged as one of India’s leading Mutual Funds managing assets of a large investor base, is now offering a range of investment options which include diversified and sector-specific equity schemes, fund of fund schemes, hybrid and monthly income funds, a vide range of debt and treasury products and offshore funds.
Birla Sun Life-AMC will be bearing the cost of insurance of the’ Century SIP’ products. Minimum/maximum eligibility for insurance cover is 18 years/below 46 years and the cover continues up to the age of 55. Whereas insurance cover is not provided by other companies if SIP stops before maturity, for investors in ‘Century SIP’ of Birla Sun Life, insurance cover continues even if SIP stops before maturity.
Systematic investing is very similar to a Recurring Deposit with a Bank. It is a very wise method of investing pre-determined amounts of money to get regular benefit from the stock market instability. Investing under ‘SIP’ is quite convenient and hassle-free with automatic investments by giving a one-time instruction. It is also light on the wallet as the lowest amount of investment is Rs 1000 per month.