Those investing in mutual funds for monthly dividends, should now consider systematic withdrawal plans (SWP), which presents a more tax efficient option after the recent move to tax dividends. The finance minister in his budget speech announced a 10% tax on income distributed to unit holders by equity oriented schemes. In order to provide investors a tax-efficient option, SBI Mutual Fund has introduced the ‘Bandhan SWP’ option for its mutual fund schemes, which enables an investor to remit cash at monthly intervals to immediate family members. DP Singh, ED and CMO at SBI Mutual Fund said, “After the recent announcements, we feel that, SWP is the most tax efficient solutions for individuals in the current tax regime.” SBI Mutual Fund has also allowed existing investors, who have their investments under dividend payout and dividend reinvestment option, to avail of this facility by switching their investments to the growth option.