SBI : Now get double profit from FDs & 50 lakh insurance for free

New Delhi : State Bank of India (SBI) has once again announced a new scheme. Accordingly, SBI Mutual Fund has launched a Retirement Benefit Fund. Investing in this new scheme of SBI Mutual Fund can fetch huge profits. According to the report, in this new fund offer, you can invest till February 3.

SBI Retirement Benefit Fund, is a Solution Oriented Fund, offering 4 schemes in the Risk Profile. Those investing through SIP in this scheme are also getting term insurance cover up to Rs 50 lakh. This new fund offer of SBI has many other benefits. For example, the dividend option has SWP facility and withdrawal on quarterly basis.

The scheme is named SBI Retirement Benefit Fund Solution Oriented Scheme. Investment in this scheme can be done till 3 February. An investor can start with at least Rs 5,000. NFO is the new scheme of an asset management company. Through this, a mutual fund company raises money from investors to invest in instruments such as shares, government bonds.

Insurance of Rs 50 lakhs
SBI Mutual Fund is also giving insurance up to Rs 50 lakh to its customers. Any investor registered under the SBI Retirement Benefit Fund for a period of 3 years and above can opt for term insurance cover. In the event of an accident, the nominee will get a benefit of up to Rs 50 lakh. The speciality of SIP insurance is that the insurance cover will increase in the first three years. Those who register through SIP for a period of more than three years, they will also be provided free life insurance cover.

You can also withdraw money in between
This facility is also available in the Retirement Benefit Fund Solution Oriented Fund Scheme. Investors can also avail the SWP facility on the dividend option in the scheme and withdraw their investments systematically on a quarterly basis. However it will be subject to lock-in period. This facility can help the investor to meet his / her expenses after retirement.