The card provides liquidity to investors any time during urgency.
Reliance Mutual fund has launched a dual benefit money card - Reliance Any Time Money Card with Reliance Liquid Fund. The card can be utilized as an ATM card for withdrawing cash or making purchases. Units in the investor’s Reliance Liquid Fund would be redeemed accordingly.
The card is an international VISA ATM cum debit card and is co-branded with HDFC Bank.
The card is available with the fund free of cost and no annual fee or transaction fee would be charged to the investor. The AMC plans to extend the card facility to 10 other schemes. According to the AMC, the card would act as a boost for drawing customers to invest in liquid funds.
