Enjoy Access to Money Market Mutual Funds With Priority Banking

 A Premium or Priority Banking Account transforms routine banking for you. It offers an array of exclusive banking and lifestyle privileges. It matches your lifestyle aspirations and growing financial needs. It also gives access to several sophisticated wealth solutions like a Money Market Fund that grows your money in the long run.

What are these funds?

Money Market Funds invest their corpus in short-term debt instruments. This allows them to provide their investors with probable returns over the short term. These are meant for clients with a low-risk appetite. This also benefits investors who want to park their surplus funds in Mutual Funds for the short term instead of keeping the money lying idle in their Savings Account.

What makes these funds lucrative?

When you invest in Money Market Fund, you can benefit from the following features:

Liquidity

These funds have higher liquidity than other Mutual Funds. As a result, they easily allow you to move your currency in and out of the investments. Additionally, when you want to retrieve the current value of the units you invested, you have two options:

• Redeem a part of the investment
• Recover the entire amount

Lower risks

These funds involve lower risks than other Mutual Funds. However, returns may not be as huge as other high-risk investments.

Well-regulated

All Mutual Funds are regulated by the Securities and Exchange Board of India. Hence, a Money Market Mutual Fund follows the guidelines laid by the regulator, has a transparent process, and protects the interests of its investors. You also check your portfolio every month as mandated by SEBI.

How does Priority Banking help?

When you open a Premium Saving Account, you not only utilise sophisticated wealth solutions like a Money Market Fund but also get the latest market insights and all the updates from domestic and international markets that help you make an informed decision. Some banks also provide their Premium Account holders with detailed market analysis from the globe before anyone else.

Customers may benefit from detailed factsheets and information on the top-quartile Mutual Funds.

Things to remember

Remember the following aspects before investing:

• Always determine your risk appetite, investment horizon, and financial goals before choosing a Mutual Fund.
• Before committing, seek advice from a professional advisor regarding the suitability of a product if you are unsure. Access to a Premium Account may give the option of a thorough risk review. This may also allow you to build a portfolio suitable to your needs.
• Remember to read all relevant offer documents which include risk disclosures, etc., before picking a Money Market scheme.