To avail the facility, investors will have to maintain a balance of at least Rs 25,000.
Franklin Templeton Mutual Fund has introduced 'systematic withdrawal facility' under its Franklin India Taxshield Fund, effective immediately, the fund said in a newspaper notice.
Franklin India Taxshield Fund is an open-ended equity-linked savings scheme. Under the newly launched facility, investors can either withdraw a fixed amount, subject to a minimum of Rs 1,000, or the capital appreciation over the initial investment, on a monthly or quarterly basis. The latter is only be available under the growth plan of the above-mentioned scheme.
To avail the facility, investors will have to maintain a balance of at least Rs 25,000, and withdraw the amount on the 15th or the last working day of any given month or quarter under the fixed amount option, and on the last working day of the month under the capital appreciation option.