State Bank Mutual Fund launches a new Systematic Withdrawal Plan dubbed Bandhan SWP, which allows you to withdraw a fixed amount regularly from your existing investments in eligible open-ended mutual fund schemes. The amount can be directly credited to the bank account of your spouse, parents, children or siblings, thus allowing you to give financial support to your loved ones in a seamless and hassle-free way.
How Bandhan SWP Works
- Select from your existing or new investment under the growth option of eligible open-ended schemes.
- Start your Bandhan SWP facility specifying beneficiary details, withdrawal amount, duration and other details.
- Submit beneficiary documents (like Proof of Address, Proof of Identity, Relationship Proof and Bank Account Proofs).
- Inflows come to the beneficiary’s bank account on respective date.
Benefits Of Bandhan SWP To The Investor
- Regular cash flows to your loved ones
- Potential Tax Efficient returns
- Long-term wealth creation opportunity
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