NRI from all over the world (including 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
₹10.91
1.50%
NAV as on 23 Nov 24, 12:00 AM
very high risk
index funds
equity
NAV as on 23 Nov 24, 12:00 AM
very high risk
index funds
equity
0.00%p.a.
Last 1Y
0.00%p.a.
Last 3Y
0.00%p.a.
Last 5Y
9.89%p.a.
Since Inception
About Nippon India Nifty Bank Index Fund Growth for NRIs
NRIs can achieve long-term capital appreciation by investing in the Nippon India Nifty Bank Index Fund Growth scheme from Nippon Life India Asset Management Ltd. It is a Index Funds mutual fund scheme that predominantly invests in Index Funds stocks of companies. Launched on Feb 2024, Nippon India Nifty Bank Index Fund Growth is Index Funds fund of its category with 128.4 Cr fund under management as on Nov 2024. The expense ratio of this fund is less than that of most other Fund category Index Funds funds.
- Nippon India Nifty Bank Index Fund Growth delivered 0.0% annual returns during the last year. It has delivered 9.9% average annual returns since the fund was launched.
- Nippon India Nifty Bank Index 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 investment objective of the scheme is to provide investment returns that commensurate to the total returns of the securities as represented by the Nifty Bank Index before expenses, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.
Top 10 Holdings
HDFC Bank Ltd
28.63%
ICICI Bank Ltd
24.58%
State Bank of India
10.09%
Axis Bank Ltd
8.92%
Kotak Mahindra Bank Ltd
8.90%
IndusInd Bank Ltd
4.21%
The Federal Bank Ltd
3.01%
Bank of Baroda
2.83%
IDFC First Bank Ltd
2.62%
Canara Bank
2.09%
Fund Managers
- Himanshu Mange (Feb 2024 - Present)
Key Information
View Scheme Document
Nippon India Nifty Bank Index 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 Nippon India Nifty Bank Index 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 Nippon India Nifty Bank Index 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 Nippon India Nifty Bank Index 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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Frequently Asked Questions
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