NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund

INVEST VIA NRE/NRO

IDBI Equity Advantage Fund Growth for NRI [43.46]

Min Investment

₹500

Fund Size

₹484.91 Cr

Expense Ratio

2.4%

Exit Load

0%

SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671

₹43.46

0.63%

NAV as on 26 Jul 23, 12:00 AM

very high risk

elss (tax savings)

elss

NAV as on 26 Jul 23, 12:00 AM

very high risk

elss (tax savings)

elss

19.89%p.a.

Last 1Y

20.90%p.a.

Last 3Y

10.08%p.a.

Last 5Y

15.90%p.a.

Since Inception

About IDBI Equity Advantage Fund Growth for NRIs

NRIs can achieve long-term capital appreciation by investing in the IDBI Equity Advantage Fund Growth scheme from IDBI Asset Management Limited. It is a ELSS (Tax Savings) mutual fund scheme that predominantly invests in ELSS (Tax Savings) stocks of companies. Launched on Sep 2013, IDBI Equity Advantage Fund Growth is ELSS (Tax Savings) fund of its category with 484.91 Cr fund under management as on Jul 2023. The expense ratio of this fund is less than that of most other Fund category ELSS (Tax Savings) funds.

  • IDBI Equity Advantage Fund Growth delivered 19.9% annual returns during the last year. It has delivered 15.9% average annual returns since the fund was launched.
  • IDBI Equity Advantage Fund Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
  • The scheme has predominantly invested in elss

Fund Objective

The Scheme will seek to invest predominantly in a diversified portfolio of equity and equity related instruments with the objective to provide investors with opportunities for capital appreciation and income along with the benefit of income-tax deduction(under section 80C of the Income-tax Act, 1961) on their investments. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to be eligible for income-tax benefits under Section 80C. There can be no assurance that the investment objective under the scheme will be realized.

Top 10 Holdings

HDFC Bank Ltd

8.68%

ICICI Bank Ltd

8.24%

ABB India Ltd

6.55%

State Bank of India

5.27%

Cholamandalam Investment and Finance Co Ltd

4.53%

Infosys Ltd

4.40%

Axis Bank Ltd

4.34%

Reliance Industries Ltd

4.10%

Larsen & Toubro Ltd

3.63%

PI Industries Ltd

3.15%

Fund Managers

  1. Alok Ranjan (Aug 2021 - Present)

Key Information

View Scheme Document

IDBI Equity Advantage Fund Growth SIP Calculator

If invested

₹5,000

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 Equity Advantage Fund Growth

Just like for resident investors, capital gains from mutual fund investments are subject to income tax for NRI investors.

Fund TypeShort-term Capital Gains (STCG) TaxLong-term Capital Gains (LTCG) Tax
Equity mutual funds15%10% (above Rs. 1 lakh LTCG) without indexation*
Debt & other types of fundsAt tax slab rate20% with indexation benefits

How can NRIs invest in IDBI Equity Advantage 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 Equity Advantage 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

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