-
-
-
Services
-
-
-
More
-
POSTED BY ON August 14, 2012 2:24 pm COMMENTS (8)
Hello Experts,
I was planning to move my emergency fund from Savings account to a liquid fund, and hence have finalized on HDFC Cash Mgmt Savings liquid fund.
Well, when I look at the VRO –> HDFC Cash Mgmt Savings –> Fund Details section of it. I find Min Balance as Rs.100,000/-. Also, the min. initial investment is Rs.10,000/-. I am confused.
Here is the link to VRO – http://www.valueresearchonline.com/funds/funddetails.asp?schemecode=695
Can anyone help me in understanding these terms?
I am planning to create an emergency fund for me and put money in liquid fund. Initially, I will be putting around 30k and then will add subsequently as and when I do any savings.
Thanks in advance.
Kapil Malhotra
2021 © Jagoinvestor.com All Right Reserved
Well, when I go to VRO –> HDFC Cash Mgmt Savings Fund –> Fund Details, this is what I see. I need to start my investment, asap, hence, experts – please provide an answer.
Investment Details:
Basics
Min Investment (Rs) 10000
Subsequent Investment (Rs) 5000
Min Withdrawal (Rs) 5000
Min Balance (Rs) 100000
Pricing Method Forward
Purchase Cut-off Time (hrs) 12
Redemption Cut-off Time (hrs) 15
Redemption Time (days) 1
Lock-in —
Cheque Writing —
http://hdfcfund.com/Products/SchemeDetails.aspx?SchemeID=33d0f25d-3f39-4237-a8ac-1f47a6034b38
go through this.
Thanks Ramesh. I saw this. Should I not be bothered about what VRO is saying?
Is there a concept of min. balance in funds?
HDFC site doesn;t talks about any such figure?
Can I make initial investment of 10,000/- and then redeem 5000/- and let my investment grow? Would there be any charges?
I do not think, there is any minimum balance concept. But just call the hdfc fund people (get the number from their site), and confirm it. The only way to be Sure.
That’s where I was heading to. Thanks Everybody
My brother has this fund with balance of 1250.He started with investment of 10000 i guess.
It means when you start your investment the initial amount should be 1L. After that you can increase your investment or reduce your investment. When you reduce the minimum balance should not be less than 1L.
I don’t think there is any such thing as Minimum balance in Mutual funds.
There are Minimum Initial purchase amount, Minimum Additional Purchase amount and Minimum Redemption amount, I have heard of.
You can go ahead and purchase the fund for 30k.
Please check
http://www.hdfcfund.com/Products/SchemeDetails.aspx?SchemeID=33d0f25d-3f39-4237-a8ac-1f47a6034b38#SchmInfo