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SBI Magnum Tax Gain |
SBI Magnum Tax Gain Scheme 1993 is one of the best equity schemes offered by SBI Mutual Fund to potential investors in the investment market. SBI Mutual Fund is sponsored by State Bank of India and it is a joint venture between Societe Generale Asset Management and SBI Bank. It is one of the leading fund management companies in India managing more than US$ 500 Billion Worldwide. The company introduces a variety of investment schemes and plans that offers the best of benefits to the investors.
SBI Tax Gain Magnum is specially designed with the prime objective to deliver the overall benefits of investment within the portfolio of equity shares while continuing to offer tax rebate on such investment schemes under the section 80 C of the Income-tax Act, 1961. This investment scheme also works to distribute timely income according to distributable surplus.
SBI Magnum Tax Gain NAV
State Bank of India Magnum Tax Gain is available in two plans namely Magnum Tax Gain Growth and Magnum Tax Gain Dividend. The following is the detail of the prevailing Tax Gain NAV on each of the plan.
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| Plan |
Latest Nav |
Date |
| Magnum Tax Gain Scheme |
54.34 |
24/02/2010 |
| 1993 - Growth |
| Magnum Tax Gain Scheme |
40.86 |
24/02/2010 |
| 1993 - Dividend |
SBI Magnum Tax Gain Scheme
Magnum Tax Gain Scheme from SBI highlights some important features which are very essential for the investors to understand.
First of all, there will be a three year statutory lock-in period for any type of investment in a tax saving scheme regardless of whether the investors claim for rebate under section 80 C or not. The tax gain dividends will be declared depending on the availability of the distributable profits of the scheme. Switchover to any other type of open-ended schemes offered by SBI Mutual Fund will be available only after the completion of the statutory lock-in period.
SBI Magnum Tax Gain was launched on March 31, 1993 and the minimum application fee is Rs. 500 and multiples of Rs. 500. Investors can withdraw a minimum of Rs. 500 for every month or quarter of the year by providing advance instructions to Registrars of the company. However, this facility will be available only after the completion of the lock-in period of 3 years. Eligible investors can buy this tax gain scheme online and also get online tax gain statement. For more details on SBI Tax Gain performance, current value, tax gain fund and money control, talk with the customer care executives through the following phone numbers.
Toll free numbers
080-26599420 (for non MTNL/BSNL)
1 800 425 5425 (for customer services queries)
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