SBI Mutual Fund Silver ETF NFO Price Details (Minimum Investment) | Business News | NFO of SBI Silver ETF opened: You can apply till June 27, minimum investment ₹ 5000

SBI Mutual Fund’s ‘SBI Silver ETF’ has opened for subscription from today. Investors will be able to apply for this NFO i.e. New Fund Offer till 27th June, the allotment of which will be on 3rd July.

This mutual fund will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on July 8, which is the tentative date. This fund of SBI will follow the domestic prices of silver. The objective of this fund is wealth creation in the long term.

You can apply for this NFO with a minimum of ₹5000.
A minimum investment of ₹5000 can be made in NFO of SBI Silver ETF, which can be increased in multiples of ₹1. You can pay for it through UPI, Net Banking, NIFT or RTGS. You cannot invest in this NFO through Systematic Investment Plan i.e. SIP. You can pay for it through UPI, Net Banking, NIFT or RTGS. Vandana Soni will manage this fund.

SBI Silver ETF’s NFO cannot be invested in through SIP.

No exit load on money redemption 15 days after NAV issue
There will be no exit load if the money is redeemed after 15 days of the Net Asset Value (NAV) of the mutual fund. However, there will be an exit load of 1% if the money is redeemed within 15 days of NAV allotment.

How does a silver ETF work?
Silver ETFs follow the market price. The returns of these ETFs go up and down depending on the fluctuations in the price of silver. Fund managers buy silver with the money invested by investors in silver ETFs and keep it in secure vaults.

What is NFO?
NFO means New Fund Offer. When any mutual fund is listed it is called NFO. All the mutual funds currently available are listed in this manner through NFO.