SBI Mutual Fund has introduced additional facility, Bandhan-SWP under systematic withdrawal plan (SWP) for eligible schemes, with immediate effect.

This facility is to be provided on open-ended funds with growth option. It also provides periodic payment to eligible beneficiaries. The beneficiaries includes spouse, parents, sibling and children above 15 years, and the investor can choose any one of his beneficiary for monthly payment while taking Systematic withdrawal plan. Before, under this facility, the redeemed amount was credited to investor account only.

Moreover,  unit holders under dividend payout or dividend reinvestment option can opt the facility by submitting a switch application to growth option.

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