Smart Money

Updated: Sep 7 2012, 08:14am hrs
Start SIP by sending an SMS

From now, you can initiate an SIP in mutual fund schemes by sending an SMS from your registered mobile phone. Reliance Capital Asset Management (RCAM), part of Reliance Capital, has launched this initiative. To invest in Reliance Mutual Fund schemes through SMS, customers need to fill in a one-time Invest Easy registration form. This registration form would also include a debit bank mandate that will facilitate transferring of funds from the investors bank while purchasing the scheme. Investors can then make a purchase, start an SIP, or redeem their units using their registered mobile phones.

Invest Wise Plan from HDFC Life

Designed to build savings to secure financial independence after retirement, HDFC Life has launched a single premium unit-linked life insurance policy Invest Wise. The entry age for the policy is 45-70 years with a 15-year fixed policy term. For short term liquidity needs, customers may go for the partial withdrawal option after five years

SBI Cards launches online application

SBI Cards has launched Click2Card, an online application service, targeted at the internet-savvy customers across India. It will allow customers to enter their details on a specially designed secure web interface and, once the customers details are submitted, the interactive platform will advice applicants on the credit card best suited to their lifestyle. After selecting the credit card from the choices offered, customers need to apply online through a compact credit card application form.

Online personal loan from Bajaj Finserv

Bajaj Finserv Lending (BFL) has launched online services to offer personal loan to premium salaried professionals. The service is completely automated, allowing the customer to apply for personal loan online and get approval instantly. Loans will be approved within five minutes of the application and disbursed in 72 hours.

Prepaid debit cards from Indepay

Indepay Networks, an alternate payment services provider, has introduced its prepaid debit cards. The cards will provide consumers with a safe and secure solution to transact online as well as deposit and transfer cash to their friends and family. The debit card will allow users to load money through direct deposits at banks, ATMs and through online funds transfer from existing bank accounts, as well as by making deposits at any Indepay merchant or partner.

HDFC credit card for teachers

To coincide with Teacher's Day, HDFC Bank has launched a credit card for teachers. The teachers credit card offers special features like multiple reward points, weekend bonanza points, petrol surcharge waiver and 500 teachers day special gift reward points credited annually on Teachers Day.