SBI Savings Fund by SBI Mutual Fund
We are all faced with a typical problem where we have money which is not required for immediate use but also we do not want to block in investment having lock in etc. This money is typically held for some future expenditure, or as a contingency fund, or may be held for the purpose of making an investment at the right opportunity. This money needs to be deployed in such a way that it can generate better returns with low volatility, but with high liquidity. Funds falling under the definition of liquid fund and ultra-short term fund fit into this criteria.
Such funds endeavor to provide an intermediate cash management solution. Ideal investment horizon is in between 1 month to 6 months.
SBI Savings Fund seeks to generate returns by investing in short term floating rate corporate bond securities, debentures etc. with maturities not exceeding 3 years.
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Up to six family members will be able to use this app with Family Sharing enabled.