Moneycontrol
Nov 11, 2017 11:39 AM IST | Source: Moneycontrol.com

Union Mutual Fund starts instant access facility under liquid fund

Under the instant access facility the scheme shall endeavor to credit the redemption proceeds to registered bank account of the investors

Himadri Buch @himadribuch

Union Mutual Fund has introduced instant access facility under Union Liquid Fund with immediate effect, a newspaper notice from the fund house stated.

Under the instant access facility the scheme shall endeavor to credit the redemption proceeds to registered bank account of the investors on the same day as receipt of instant redemption request, using Immediate Payment Service (IMPS) provided by banks or similar payment mechanism provided by banks with whom Union Mutual Fund has arrangements from time to time.

The facility shall be available on all days at all points of time and it will be available under the growth option of the scheme.The minimum redemption amount under the scheme shall be Rs 1,000 and in multiples of one rupee thereafter.

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