ATM Access , Higher Return than Saving Bank A/C

Mutual Fund with ATM provides higher return than savings bank a/c & instant access to money

Reliance Mutual Fund gives you the power of debit card. Reliance mutual fund is providing ATM card, Reliance Any Time Money Card, linked to Reliance mutual fund products. You can use the Reliance ATM card to shop or withdraw money from your Reliance mutual funds. You can use the Reliance ATM card for shopping, movies, dining, etc. like any of your other debit ATM card. As well as for withdrawing money from any bank ATM like any other debit ATM card.

Benefits of Reliance ATM Card

Reliance mutual fund is providing the Reliance ATM card as a better alternative to savings bank account -

• East Access to Money – Reliance ATM card provides easy liquidity, like your savings bank account, of your Reliance mutual fund money by allowing withdrawal of money from any bank ATM
• Higher Interest Rate – Interest rate / earnings on your idle money is higher from Reliance mutual fund as compared to the interest earned in your savings bank account. The savings bank account money earns around 4% interest per year. Whereas the same money in the funds of Reliance ATM card will earn around 8% per year

Reliance ATM Card

Reliance ATM card is just like your any other bank’s automated teller machine or ATM-cum-debit card. Just like any other bank ATM card, you can use this card to withdraw or spend money from your Reliance mutual funds. The ATM card facility is provided for all Reliance mutual funds. Reliance mutual fund is providing the Reliance ATM card in tie-up with HDFC Bank. So you can use the Reliance ATM Card at any of the HDFC Bank’s ATM or any other bank’s ATM to withdraw money from Reliance mutual funds

Primary Account Mutual Funds of Reliance ATM Card

“Reliance Liquid Fund – Treasury Plan” or “Reliance Money Manager Fund” are considered the primary account mutual funds for Reliance ATM card. You can opt for the Reliance ATM card by investing in any of the Reliance mutual fund schemes

Withdrawal With Reliance ATM Card

The Reliance ATM card provides instant withdrawal and spending facility just like any other bank ATM card. The instant withdrawal facility is different as compared with the traditional way of mutual fund withdrawal where you first submit a withdrawal request and then the withdrawn amount is credited into your bank account

• Withdrawal Limit – The daily withdrawal amount is 50% of mutual fund balance or Rs 50,000 whichever is lower
• HDFC Bank ATM – Amount can be withdrawn from any of your any of your mutual funds. Exit load are applicable for withdrawals made from equity and gold funds within 1-year of investment period
• Non HDFC Bank ATM – Amount can be withdrawn only from primary account mutual funds of “Reliance Liquid Fund – Treasury Plan” or “Reliance Money Manager Fund”

Spending with Reliance ATM Card

The daily shopping amount is 50% of primary account mutual funds balance or Rs 1 lakh whichever is lower. That is, for shopping payment only your primary account mutual funds are debited

Cost of Reliance ATM Card

The Reliance ATM card is provided free of cost

Use the Reliance ATM Card to earn higher interest on your idle savings bank account money alongwith the access and liquidity of the idle amount, but avoid making withdrawals from your equity funds