NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund
SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671
₹15.25
-0.33%
NAV as on 29 Jul 23, 12:00 AM
very high risk
sector financial services
equity
NAV as on 29 Jul 23, 12:00 AM
very high risk
sector financial services
equity
17.58%p.a.
Last 1Y
20.71%p.a.
Last 3Y
8.57%p.a.
Last 5Y
8.44%p.a.
Since Inception
About IDBI Banking Financial Services Fund Growth for NRIs
NRIs can achieve long-term capital appreciation by investing in the IDBI Banking Financial Services Fund Growth scheme from IDBI Asset Management Limited. It is a Sector - Financial Services mutual fund scheme that predominantly invests in Sector - Financial Services stocks of companies. Launched on May 2018, IDBI Banking Financial Services Fund Growth is Sector - Financial Services fund of its category with 86.62 Cr fund under management as on Jul 2023. The expense ratio of this fund is less than that of most other Fund category Sector - Financial Services funds.
- IDBI Banking Financial Services Fund Growth delivered 17.6% annual returns during the last year. It has delivered 8.4% average annual returns since the fund was launched.
- IDBI Banking Financial Services Fund Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
- The scheme has predominantly invested in equity
Fund Objective
The objective of the scheme is to provide investors maximum growth opportunities and to achieve long term capital appreciation by predominantly investing in equity and equity related instruments of companies engaged in Banking and Financial Services Sector. However there can be no assurance that the investment objective under the scheme will be realized.
Top 10 Holdings
HDFC Bank Ltd
20.02%
ICICI Bank Ltd
16.82%
Axis Bank Ltd
9.45%
Bajaj Finance Ltd
7.85%
State Bank of India
7.26%
Cholamandalam Investment and Finance Co Ltd
6.53%
Kotak Mahindra Bank Ltd
5.57%
Housing Development Finance Corp Ltd
4.50%
Can Fin Homes Ltd Shs Dematerialised
3.47%
Bajaj Finserv Ltd
2.68%
Fund Managers
- Alok Ranjan (Aug 2021 - Present)
Key Information
View Scheme Document
IDBI Banking Financial Services Fund Growth SIP Calculator
If invested
per month
For a period of
Investment of ₹0 could have been
₹0(+0.0%)
₹0 (+0.0%)
This Fund
₹0 (+0.0%)
Fixed Deposit
NRI Mutual Fund Tax on IDBI Banking Financial Services Fund Growth
Just like for resident investors, capital gains from mutual fund investments are subject to income tax for NRI investors.
| Fund Type | Short-term Capital Gains (STCG) Tax | Long-term Capital Gains (LTCG) Tax |
|---|---|---|
| Equity mutual funds | 15% | 10% (above Rs. 1 lakh LTCG) without indexation* |
| Debt & other types of funds | At tax slab rate | 20% with indexation benefits |
How can NRIs invest in IDBI Banking Financial Services Fund Growth?
NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:
- Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
- PAN Number
- Overseas address proof: Any of – Water/electricity bill, postpaid mobile/internet bill, rent agreement, driving license, etc.
- Passport – front and back
- Passport size photograph
- signature
If all details are correct, your KYC will be approved within 7 to 8 business days.
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing in IDBI Banking Financial Services Fund Growth
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing:
- City and country of birth
- NRE/NRO bank account statement/ canceled cheque for the latest 3 months
- Nominee details
Similar Funds
Funds
3Y Return
ICICI Prudential Banking and Financial Services Fund Growth
very high risk | equity
15.8%
Nippon India Banking & Financial Services Fund Growth
very high risk | equity
22.4%
SBI Banking & Financial Services Growth
very high risk | equity
16.2%
Frequently Asked Questions
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