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Tuesday, January 13, 2009

ING Tax Savings Fund revises minimum application amount

With effect from 13 January 2009

ING Mutual Fund has announced the revision of minimum application amount of ING Tax Savings Fund with effect from 13 January 2009. As per revision, the minimum application amount will be Rs 500 and in multiples of Rs 500 thereafter and minimum additional purchase revised to Rs 500 and in multiples of Rs 500 thereafter.

The repurchase request can be made for a minimum amount of Rs 500 or a minimum of 50 units subject to completion of 3 years lock-in period from the date of allotment.

ING Tax Savings Fund is an open-ended equity linked savings scheme launched in February 2004, with an investment objective of providing medium to long-term growth of capital along with income tax rebate.

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