Source: BL
Context:
Bajaj Finserv Asset Management Company (AMC) has launched ‘Pay with Mutual Fund’, a first-of-its-kind feature that allows investors to make daily UPI payments directly from their mutual fund investments.
Purpose:
- To blend investing and spending, allowing money to earn returns while remaining accessible for everyday transactions.
- To provide liquidity and convenience, making mutual funds more integrated into modern financial life.
Key Features:
- Instant Access via UPI: Payments can be made by scanning a QR code, triggering an automatic redemption from the mutual fund to the bank account in the background.
- Redemption Limit: Investors can redeem up to ₹50,000 or 90% of their investment, whichever is lower, under the Insta Redemption facility.
- Higher Returns: Money parked in liquid funds earns better returns than a traditional savings account, while remaining usable for everyday expenses.
- Collaboration: Developed in partnership with Curie Money, a fintech platform ensuring seamless transaction processing.
