SBI MITRA SIP | SBI Mutual fund | Nivesh Gyan | Jignesh Parmar 

SBI MITRA SIP
SBI MITRA SIP | SBI Mutual fund | Nivesh Gyan | Jignesh Parmar
‘MITRA SIP’is a facility that allows investor to make initial investment through
Systematic Investment Plan (SIP) and after completion of specific tenure switch
the units to another Scheme or continue to remain in the Same Scheme as per
the option selected by the investor and Systematic Withdrawal through SWP
from the target scheme.
Terms and Conditions for MITRA SIP
1. MITRA SIP facility is available under certain schemes of SBI Mutual Fund (mentioned in point no. 3 below) for a fixed SIP tenure of either 8years, 10 years, 12 years or 15 years.
2. This facility is allowed under ‘Monthly’ frequency for Growth option of the schemes mentioned in point 3 below
3. Schemes eligible for SIP, Switch-in and SWP: The target schemecan either be the Source Scheme (i.e. SIP scheme) or any one of thepre-defined schemes mentioned below.
Name of Schemes (for SIP) Name of Schemes (for Switch andSWP)
4. Minimum installment amount under this facility for SIP / SWP would be the same as prescribed under monthly frequencies in the respective Schemes. All other terms and conditions pertaining to SIP and SWP shall be applicable for MITRA SIP facility.
5. On completion of the SIP period (either 8 years, 10 years, 12 years or 15years as the case may be), the entire accumulated clear unit balance shall be switched on T+15 calendar days to a pre-defined target scheme(T is the last SIP transaction date of the facility) or continue to remain in the same scheme as per option selected by the investor. In case the
Source and Target Scheme is different, then switch out from the Source Scheme would be subject to exit load and taxes, as applicable.
6. SWP will commence from the target scheme from next month on wards on the same SIP instalment date. The SWP transaction shall be subject to exit load and taxes, as applicable.
SIP Tenure Monthly SWP Instalment
8 years 1 X monthly SIP instalment
10 years 1.5 X monthly SIP instalment
12 years 2 X monthly SIP instalment
15 years 3 X monthly SIP instalment
8. In case no SIP tenure is selected, the default tenure shall be 12 years. Incase no SIP date is selected, the default date shall be 10.
9. In case, no scheme is mentioned in the target scheme section in SWP, the default scheme shall be considered as ‘SBI Short Term Debt Fund’.
10. SWP Date will be same as the SIP date. The Start date of SWP will be the month following the last SIP instalment date and the SWP End Date will be perpetual
11. This facility shall get discontinued in the following events :i) On cancellation of SIP before the end of tenure, the switch trigger and SWP will cease.
ii) In case, redemption / switch-out processed in Source Scheme during the SIP tenure, the Switch trigger and SWP will cease, however SIP shall continue under the Source Scheme as normal SIP.
iii) In case redemption / switch-out is processed in Source Scheme after the SIP tenure till the execution of switch trigger, the switch trigger and the SWP will cease.
12. SIP Top-Up and SIP Pause is allowed under this facility. However, SWP would get registered based on the initial SIP instalment amount / slab mentioned in the application form.
13. Under a single folio, an investor can have multiple registrations under this facility. However, if investor wishes to invest in multiple schemes, investor shall have to submit separate MITRA SIP registration forms.
14. This facility will not be available under DEMAT mode and for Minor investor
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