SBI Mutual Fund has announced a dividend of 35% (i.e. Rs 3.5 per unit on the face value of Rs 10) in SBI Magnum Tax gain Scheme. The record date for dividend is March 22, 2012. NAV as on 19th March,2012 – Rs. 35.00/-
This information (details) are available in account statement as which mode of payment is alloted to you.
Even i have investment in SBI Magnum tax Gain and have option of direct credit to my bank account. The SBI Magnum tax Gain dividend got credited in my bank account on March 28, 2012.
Update for 2013When will you receive dividend
After record date, if you opted for direct credit then in such case will get credited within 7-8 working days in your bank account registered in that scheme, and in case of cheque payment it will take 10-15 working days.This information (details) are available in account statement as which mode of payment is alloted to you.
Even i have investment in SBI Magnum tax Gain and have option of direct credit to my bank account. The SBI Magnum tax Gain dividend got credited in my bank account on March 28, 2012.
Dividend in SBI Magnum Tax Gain Scheme (Record date March 28, 2013)
http://mutual-funds-personalfin.blogspot.in/2013/03/dividend-in-sbi-magnum-tax-gain-scheme_26.html
.....png)
can i see how my sbi magnum working ?
ReplyDeleteHi Somya,
ReplyDeleteYou can check these details in factsheet of SBI Mutual fund http://www.sbimf.com/Products/EquitySchemes/SBI_Magnum_Taxgain_Scheme_1993.aspx
http://www.sbimf.com/Downloads/Factsheets.aspx?SchCode=3&SchType=
This information is also available on amfi India.com
Hello MutualFunds.Personalfin,
ReplyDeleteI have investment in SBI Magnum Taxgain, if i provide you folio(account) details and my email address, will it be possible for you to send me the account details (Latest units statement and current market value) of that fund.
If not, please help as how can i get the latest account statement?
Thanks in advance.
Hi Milan,
ReplyDeleteSorry, but providing account information is not possible for any other person as this information is not available to any third party.
Mutual fund houses are very strict related to providing account information.
The account statement(account details) are available to investor and to person under whose ARN code you did your investment, no other ARN holder will able to access your investment details or provide you any information.
If you did your investment with help of advisor, you can call him and request for account statement
Other option is call SBI customer care, the helpline number of SBI mutual fund is as follows
Helpline number is 1800 425 5425
http://www.sbimf.com/ContactUs/Investor_Service_Centers.aspx
Email: partnerforlife@sbimf.com
You can call them and request for account statement..
I want to make change in bank details in SBI Magnum Tax Gain, if you can able to help me as how can i make changes in bank details?
ReplyDeleteCheck this link, this link will surely help you to know the procedure for change in bank details and what documents are required for change in bank details.
DeleteNow mutual fund give facility of adding multiple bank accounts in one scheme, you can use this facility rather applying for change in bank details.
http://mutual-funds-personalfin.blogspot.in/2012/04/documents-required-for-change-in-bank.html
(article date April 4, 2012)
I want to switch from magnum tax gain scheme growth to SBI Gold Fund scheme is it possible, if yes, then how to change?
ReplyDeleteYes you can switch from SBI Magnum tax gain scheme to SBI gold Fund but investment in Magnum Tax Gain Completed 3 yrs and switch amount is Rs.5000 or more.
ReplyDeleteFor complete details check this link
http://www.sbimf.com/Products/FundofFundSchemes/SBI_Gold_Fund.aspx
What is difference between sbi magnum tax saving growth plan and dividend plan?
ReplyDeleteIn Growth Scheme the gains made by a mutual fund scheme are re-invested. Therefore, the net asset value (NAV) moves up. In a dividend plan, the gains are periodically distributed as dividend. So the NAV drops to the extent of the dividend, whenever it is paid out.
ReplyDeleteis dividend from sbi magnum taxgain scheme tax exempt?
ReplyDeleteYes, it is exempt from tax.
DeleteWhat is difference between sbi magnum tax gain direct and regular dividend?
ReplyDeleteI hope you are aware of this update on separate option for direct investments.
ReplyDeleteAs per a Securities and Exchange Board of India (SEBI) circular dated September 13, 2012, Mutual Funds/AMC have been mandated to provide separate plan for direct investments, i.e, investments not made through distributors in existing and new schemes.
This Direct plan will have lower expense ratio (excluding distribution expenses, commission, etc.). The plan shall have separate NAV.
In order to comply with the above regulations, Mutual Funds have classified the existing plans as Regular plan and have created identical schemes and their related options under the Direct plan as well. These Direct plans are available for investors with effect from January 1, 2013.
http://www.thehindubusinessline.com/features/investment-world/mutual-funds/faqs-on-direct-plan/article4302092.ece