Reliance Salary Addvantage is an offering aimed at Salaried Employees working in an organization. This facility is designed keeping in mind people who generally have surplus money in their bank accounts. These funds are not diligently invested and the employees may end up losing out an opportunity to make their hard earned money grow.
Salary Addvantage has a potential to manage money in a way that it yields market linked debt returns. Fundamentally, this facility has underlying as Liquid Fund account investment account (Mutual Fund) which provides similar withdrawal access to funds like any other Bank account.
All payments made from employer i.e. Salary, Reimbursements, Incentives, Bonus etc under Systematic Investment Plans or lumpsum / one-time subscription will be a part of salary addvantage facility.
This facility allows the individual investors to draw advantage by :-
- Transferring their surplus funds to Reliance Low Duration Fund/ Reliance Liquid Fund that have the potential to earn market linked debt returns everyday.
- Allocate investible funds into host of other open ended schemes (that may have potential to deliver reasonable returns over a long term period) to meet long term financial goals.
Key Features associated with Any time money card :
- Free access to over 1.8 million ATMs with Over 30 million merchant establishments
- Daily Returns - Daily Liquidity
- Relatively Less Volatile
Employee Benefits :
Smart Reimbursement Account: Invest your periodic reimbursements / incentives payout to this market linked account rather than regular current account or saving account.
Alternate Salary Account: Employee may receive a Full / Defined portion of monthly salary in this account and enjoy market linked debt returns, while they continue to enjoy withdrawal facility like any other Bank account.
Opportunity of Saving Tax: Employees can avail tax deduction U/S 80C on investing funds in such eligible schemes and also gets the potential upside of investing in the equity markets.
Additionally employees can also take opportunity of investing in RGESS eligible scheme and avail tax deductions under a new section 80CCG as per the proposed guidelines by Government of India for FY 12-13 onwards.
Both the Reimbursements and Salary Account, wherever applicable can be accessed with the convenience of Reliance Any Time Money Card and other electronic medium such as Internet, Call Center and Mobile.
To know more about the program, you can email us
Salary Addvantage is a special facility available in the select Schemes of Reliance Mutual Fund (RMF) to deduct the desired amount from the salary of the employees and remit the same to RMF on any date (working day) of the month or the quarter. Entry load will be nil and Exit load as applicable in the respective Scheme at the time of registration. Past performance of the Sponsor / AMC / Mutual Fund is not indicative of the future performance of the Scheme. The NAV of the Scheme may be affected, interalia, by changes in the market conditions, interest rates, trading volumes, settlement periods and transfer procedures. For details of scheme features apart from those mentioned above and for Scheme specific risk factors, please refer to the Scheme Information Document which are available at all the DISC's and Distributors and also at the website www.reliancemutual.com. The tax benefits are as per the current Income Tax laws & rules and any other law for the time being in force. Investors are advised to consult their financial advisor/tax consultant before investing.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.