SBI Magnum Income Direct Plan Growth is a Debt Mutual Fund Scheme launched by SBI Mutual Fund. This scheme was introduced to investors on 01 Jan 2013. Dinesh Ahuja is the Current Fund Manager of SBI Magnum Income Direct Plan Growth.The fund currently has an Asset Under Management(AUM) of ₹1,301 Cr and the Latest NAV as of 03 Apr 2020 is ₹52.55.
The SBI Magnum Income Direct Plan Growth is rated Moderate risk. Minimum SIP Investment is 500. Minimum Lumpsum Investment is 5000. For units in excess of 10% of the investment, 1% will be charged for redemption within 1 year.
Investment Objective
The objective of the scheme is to provide the investors an opportunity to earn, in accordance with their requirements, through capital gains or through regular dividends, returns that would be higher than the returns offered by comparable investment avenues through investment in debt & money market securities.
Tax Implications
Returns are taxed as per your Income Tax slab, if sold before 3 years. Negligible Tax (20% with indexation benefit) post 3 years.
Scheme Information Document(SID)
₹5000
Min for First Investment
₹1000
Min for Second Investment
For units in excess of 10% of the investment, 1% will be charged for redemption within 1 year
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