Sunday, December 6, 2015

SBI Magnum Tax Gain Review

 

SBI Magnum Tax Gain - Invest Online

 

SBI magnum Tax Gain Mutual Fund Scheme is managed by Jayesh Shroff. If you have this fund it enables you for tax benefits under section 80C of IT act. Let's have a look at it more here.

SBI Magnum Tax GainWhere SBI Magnum Tax gain Scheme invest the fund?

SBI Magnum Tax Gain Scheme is a large cap fund that invests most of your money in large size companies. The large cap companies are stable as compared to mid cap and small cap companies. Moreover, this fund has 72% exposure to stocks of large cap companies and 22% exposure to stocks of mid cap companies and 6% to stocks of small companies.

Suitable for:

  • Saving on Tax
  • Planning for Child's Education
  • Planning for Child's Marriage
  • Planning for retirement
  • Planning for buying a new home

Not Suitable for:

  • If you want to accomplish Lifestyle requirements
  • For creating wealth
  • For short term requirements

How much to invest?

In SBI Magnum Tax Gain Scheme, minimum one time investment is Rs 5000 and minimum SIP is Rs 500 per month. Don't make SBI Magnum Tax Gain as a part of your core portfolio. It can be a part of yourSatellite Portfolio. Don't invest in more than two mutual fund schemes in your core portfolio.

SBI Magnum Tax gain Scheme performance in past:

The SBI Magnum Tax Gain scheme was launched in 1993, March. If you had invested Rs 1 Lakh when it was launched then your value of investment would be around Rs 19.7 Lakhs. If you had invested Rs 1 Lakh five years back it would have become Rs 1.2 Lakhs. The fund has been providing at around 4% every year for those who invested in last 5 years.

Charges applied:

If units are sold within a year an exit load of 1% is deducted from your total returns. Moreover, no exit load applies for units withdraw for post one year. In addition, expense ratio of SBI Magnum Tax Gain scheme is 2.02%. It is charged to recover the fund management company's expense on some basic expenses.

When to exit?

There is a lock-in period of 3 years in SBI Magnum Tax Gain Scheme. You can't sell these funds within 3 years of your purchase date. Withdraw when your aims are closer to success.

 

Tax Implications:

If you don't withdraw within 1 year, then the returns in a mutual fund are completely free. This scheme is eligible for section 80C Tax Benefit ELSS benefits. You can invest for Rs 1.5 Lakh a year in this fund!

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. IDFC Tax Advantage (ELSS) Fund

4. ICICI Prudential Long Term Equity Fund

5. Religare Tax Plan

6. Franklin India TaxShield

7. DSP BlackRock Tax Saver Fund

8. Birla Sun Life Tax Relief 96

9. Reliance Tax Saver (ELSS) Fund

10. HDFC TaxSaver

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online

Invest in Tax Saver Mutual Funds Online

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