What is the news?
It can be difficult if there is no money in your bank account and you need to make payment through Unified Interface Payment (UPI). In such a situation you do not need to panic. You can make payments using your mutual funds. For this, you can make UPI payment from your liquid fund holdings through the ‘Pay with Mutual Fund’ feature and redeem the required units instantly. Let us know how it works.
This feature is available through
If you hold a liquid mutual fund and the issuer supports Pay With mutual fund service, the payout amount is taken from your investment. Funds are credited to the account instantly through UPI. ICICI Prudential Mutual Fund and Bajaj Finserv AMC have launched this facility in partnership with Curie Money. It turns liquid mutual funds into a bank account, with the benefits of market returns and UPI payments.
What are the advantages of this option?
Liquid funds by their structure invest in short-term money market instruments, which provide high liquidity and are often used to hold short-term cash. This feature allows investors to get paid directly without the need to first withdraw money and transfer it to a bank account. Liquid funds (7 percent) give higher returns compared to savings accounts (less than 4 percent).
Follow Us On Google News
Follow Us On WhatsApp
Leave a Comment