|Min SIP Amount||₹100|
|NAV||₹274.56 (20 Apr 2021)|
|Fund Started||26 May 2003|
|Fund Size||₹2,659 Cr|
|ICICI Bank Ltd.||Financial||Equity||16.8%|
|HDFC Bank Ltd.||Financial||Equity||12.2%|
|State Bank of India||Financial||Equity||12.1%|
|Axis Bank Ltd.||Financial||Equity||9.3%|
|Federal Bank Ltd.||Financial||Equity||4.9%|
|SBI Life Insurance Company Ltd.||Financial||Equity||4.0%|
|Bank Of Baroda||Financial||Equity||3.5%|
|Muthoot Finance Ltd.||Financial||Equity||3.0%|
|Bajaj Finserv Ltd.||Financial||Equity||2.9%|
|SBI Cards & Payments Services Ltd.||Financial||Equity||2.8%|
Nippon India Banking Fund Growth is a Equity Mutual Fund Scheme launched by Nippon India Mutual Fund. This scheme was made available to investors on 26 May 2003. Sanjay Parekh is the Current Fund Manager of Nippon India Banking Fund Growth fund.The fund currently has an Asset Under Management(AUM) of ₹2,659 Cr and the Latest NAV as of 20 Apr 2021 is ₹274.56.
The Nippon India Banking Fund Growth is rated Very High risk. Minimum SIP Investment is set to 100. Minimum Lumpsum Investment is 5000. Exit load of 1%, if redeemed within 1 month.
The scheme aims to generate continuous returns by actively investing in equity, equity related or fixed income securities of banks. The proportion of investment between equity and debt will be decided based on the view of the fund manager on anticipated movement in both debt as well as equity markets.
Returns are taxed at 15%, if you redeem before one year. After 1 year, you are required to pay LTCG tax of 10% on returns of Rs 1 lakh+ in a financial year.