Reliance Mutual Fund is offering investors an Any Time Money Card, that works like a debit card.


Need urgent cash or want to make that impulsive purchase? Use your ‘debit’ card, the one linked to your mutual fund investments. Reliance Mutual Fund is offering investors an ‘Any Time Money Card’, that works like a debit card (allowing withdrawals at ATMs or point-of-sale transactions) and uses the schemes (debt and equity) one has invested in as the account.

Company officials note that liquid funds give better returns than other instruments like bank savings account. "However, customers tend to stick to their bank accounts as they are comparatively illiquid," points out one of them. "The new card is aimed at doing away with this limitation."



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Fund House Snapshot: Reliance Mutual Fund