What is the minimum time that it takes to send money abroad?
48 hours is the minimum time that is required to send money abroad.
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Cost-Efficient Investments
Cost-Efficient Investments
When you buy equity directly you have to bear costs like Securities Transaction Tax (STT) and brokerage. The more transactions you have, the more you will have to pay. However, with mutual funds, you have the benefit of overlay investors who do bulk investments and are able to enjoy economies of scale. For example, you may be able to avail low brokerage rates.
LUMP SUM Investments Through SIP
LUMP SUM Investments Through SIP
Flexibility is one of the best advantages of mutual funds. You can opt for a lumpsum payment or put in small amounts over time through a SIP (Systematic Investment Plan). If you have the required cash at once, a lump sum payment would work well. With a SIP, you have the option to invest relatively less amounts of money.
High Liquidity
High Liquidity
Most mutual funds are open-ended, which means that you can buy or sell units at any time, ensuring high liquidity for your investments. The total redeemable value will be based on the net asset value (NAV) of the fund for that day. Even close-ended, which are for a fixed duration, are listed at the exchange after the closing of the New Fund Offer (NFO). Once listed at a stock exchange, they can be freely bought and sold. However, you should note that some mutual funds like ELSS come with a lock-in period.
Option to Invest in Small Amounts
Option to Invest in Small Amounts
A SIP can be started with as little as ₹ 500 per month. The advantage that you have here is that you do not have to wait till the time you are able to accumulate enough money for the investment. This way you will be able to make optimum use of the money you have available and would be able to maximise your returns.
Reduce Tax Liability
Reduce Tax Liability
One of the top benefits of investing in mutual funds is that you can save on income tax. If you invest in an ELSS fund, you can reduce your taxable income by as much as ₹ 1.5 lakh under Section 80C of the Income Tax Act of 1961.
Great Number Of Options
Great Number Of Options
There are more than 2000 currently active schemes, so you have a lot of options to choose from. This is one of the most significant benefits of mutual funds. Depending on your preferences, risk appetite, etc. you can choose debt funds (least risky), hybrid funds (moderate risk), or equity funds (highest risk). Even within these categories, there are several choices like small-, mid-, and large-cap funds. Just remember, the rewards are always directly proportional to the risk. Higher the risk, higher the returns.
How many transactions can one single recipient receive in India?
A customer is entitled to receive a maximum of 30 transactions in a calendar year .
How much money can be received in one single transaction?
An equivalent of USD 2500 per Transaction.
Will the receiver get his money in cash?
Payments of up to Rs. 50,000/- can be made through cash
Payment above Rs. 50,000/- is to be made by Account Payee cheque/NEFT/Account Direct
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