Navi Mutual Fund (MF) has reduced the minimum application amount for both fresh investments and additional investments across its schemes to Rs 10 from the current Rs 1,000/Rs 500 and Rs 100, respectively. This means you can invest with as little as Rs 10 in schemes of Navi Mutual Fund now.
This applies to systematic investment plans (SIPs), lumpsum investments, systematic withdrawal plans (SWPs), systematic transfer plans (STPs), and redemptions.
This is an interesting move as most mutual fund schemes ask for a minimum investment of Rs 500-1,000.
So, which schemes are applicable here?
This reduction in the minimum application amount has been introduced across all schemes of Navi Mutual fund, except for their equity-linked savings scheme (ELSS), due to regulations.
For schemes such as Navi Liquid Fund, Navi Regular Savings Fund (hybrid scheme investing predominantly in debt papers) and Navi Flexi Cap Fund, the minimum application amount has been reduced from Rs 1,000 to Rs 10 (and in multiples of Re 1 thereafter).
For schemes such as Navi Mutual Fund’s Nifty 50 Index Fund, Nifty Next 50 Index Fund, Nifty Bank Index Fund, US Total Stock Market Fund of Fund, Nifty Midcap 150 Index Fund, NASDAQ 100 Fund of Fund and Nifty India Manufacturing Index Fund, the minimum application amount has been reduced from Rs 500 to Rs 10 (and in multiples of Re 1 thereafter).
How can you start investing?
Navi Mutual Fund is listed on all major online platforms like Kfintech, Groww, Orowealth, INDMoney and others for investing under direct plans.
About Navi MF
Navi MF is a venture of Sachin Bansal (formerly co-founder of Flipkart) and Ankit Agarwal (formerly a banker with Deutsche Bank and Bank of America).
Key considerations before investing
Investing in any mutual fund needs elaborate planning, and you need to follow certain protocols to ensure that you are investing in the best MF plan.
You should have a clear goal in mind for investing and select a time horizon. Of course, it is imperative to take your current financial position into consideration before making any decision, experts say.
