SBI Mutual Fund has launched a new scheme for those interested in investing in gold and raking in returns because of the continuous steep hike in gold prices. SBI Gold Fund is an open ended scheme to enable investors to systematically invest in gold. The fund offer will open on August 22 and close on September 5th. The minimum amount that can be invested in this fund is Rs 5000/- . A customer can invest Rs. 500 per month for a year or Rs. 100 per month for 5 years.
SBI MF Managing Director and Chief Executive Officer Deepak Chatterjee while announcing this new scheme stated that “It is a convenient product and will give an opportunity to an investor to invest in the purest form of gold without the need of buying and storing physical gold that too, without a dematerialized account unlike gold exchange traded funds.”