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Reliance Capital launches SIP service through SMS

To invest in Reliance Mutual Fund schemes through SMS, customers need to fill in a one-time Invest Easy registration form with their details

August 29, 2012 5:10 IST | India Infoline News Service
Reliance Capital Asset Management has launched systematic investment plan (SIP) in mutual funds through SMS on Wednesday. With this service, Reliance Capital customers can start an SIP in their mutual fund schemes by sending an SMS through their registered mobile phones.

Reliance Capital has launched the new service under its Invest Easy initiative. To invest in Reliance Mutual Fund schemes through SMS, customers need to fill in a one-time Invest Easy registration form with their details. Easy initiative that allows investors to transact online on the net, on their mobiles, through call centre and now using SMS.

The registration form would also include a debit bank mandate that will facilitate transferring of funds from the investor's bank while purchasing the scheme.
Registered investors can then make a purchase, start an SIP, or redeem their units using their registered mobile phones. For starting an SIP, the investors need to send an SMS to 9664001111, from their registered mobile numbers, the company said.

SIP would be open-ended and can be discontinued by the investor at any time. The default date for SIP instalment would be 10th of every month. The minimum SIP for most funds is as low as Rs 100, the company added.

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