Image by Alan Cleaver
SBI Magnum Taxgain scheme is a mutual fund from SBI that helps you get tax benefit under section 80 C (the one with the one lakh limit), and primarily invests in equity. Before I go any further, let me state that there is a 3 year lock in period in this fund.
Over the years, I have heard a few people ask whether the lock – in applies if they don’t claim the tax benefit, and the answer is: Yes.
The lock in will remain intact regardless of whether you claim the tax benefit or not.
The Magnum Taxgain scheme will primarily be invested in equity, and at the end of February 2010 – it had 91.73% of its assets invested in equity. The fund leans towards large caps with Reliance Industries, ICICI Bank, L&T, United Spirits and GAIL being its top 5 holdings as on Feb 28 2010. It’s well worth noting here that the top 10 holdings of the fund make up 31.2% of its assets.
Over a 5 year period the SBI Magnum Taxgain fund has given annualized returns of 26.3% against Nifty returns of 20%. This page from Moneycontrol shows that this is among one of the better funds over a five year period. Its returns beat Nifty over a five year period which is a good thing, and the fact that it gives you tax benefits as well is just icing on the cake.
On a 1 – 5 scale – it has got a 4 rating from Value Research, and “Fund Return Grade” of “Average”. The minimum investment in this fund is Rs.500, and you can also set up SIPs in this plan.
In the past I have written about keeping the tax angle in mind while investing, and if you were thinking about some tax planning, then this is certainly one of the options you could check out.
You may also like:
- SBI Mutual Fund
- SBI WISE Mutual Fund
- SBI Gold ETF
- Magnum Ventures Ltd.
- India Home Loan: SBI Home Loan
{ 149 comments… read them below or add one }
← Previous Comments
Next Comments →
I invested on SBI magnum Taxgain mutual fund scheme. My Polio nos are – 7701407 / 2006 and 10486250 / 2008 . I am requesting you to send account statements for both accounts.
u can download from http://www.camsonline.com
Dear Sir,
My SBI Mutual fund
Folio Number-10297456
Scheme-LO18 Magnum Tax Gain-Dividend
At present, what is the rate of above!
Thanks,
Sanjay
M-09662535686
Folio no 8626969
name — kanitkar sachin arun
ph. 9922069062
pl. send me TDS Certificate for year 2010 — 2011
For this year 2010 — 2011 net primium paid.
pl. send me on my mail ID mentioned above
yaddesachinki@yahoo.co.in
Dear sir,
I hold SBI Magnam Tax Gain sheme. Folio no 10694512
I want statement of this year.
can you send the same
Regards
Vishal
No, I can’t send you this as this is like a news website. Your best bet is to contact the agent or banker who sold you this.
Folio # 10189863.
I want to sell my SBI Mutual Fund-Magnum Tax Gain Growth.
Please Advice
my pan no is AJBPB7047C having magnum taxgain. i want my detaled statement before 22th feb please
Dear sir,
I hold SBI Magnam Tax Gain sheme. Folio no 8405962
I want statement from Beginning.
can you send the same
Regards
pl mail me statement of account for SBI-Magnum Tax Gain Scheme
folio No : 8658575
Dear Sir,
My Folio No. is 10332397
SBI Magnum Tax Gain Scheme – Growth (L018G).
I want to know – what is the current value?
Please give me the cost of SIP magnum unit because I want to sell it.so give me the market value via email twice in a week.
READ THIS FIRST PLEASE:
This is not the website of SBI Magnum. This is a like a news website, and leaving a comment here asking me to send your statement is completely useless, as I have no way of accessing it.
Please talk to your agent, bank or broker who sold the fund to you.
my folio no of LO18MAGNUM TAX GAIN SCHEME NO IS 8780924,PLS SEND STATEMENT TO MY NEW ADDRESS OR EMAIL ID
ALSO CHANGE MY ADDRESS
SANJAY SHENDE
7B/301 ASHOK NAGAR,NEAR DADLANI PARK,BALKUM,
THANE(WEST)
PIN-400608
Kindly confirm the present status of folio number 10627302, L018g Magnum tax gain scheme – growth
my F.No. 7072837 magnum tax gain.i want last year statement through online how
I have invested Rs.40000/- in sbi magnum tax gain divident pay out sheme in march 2007. My folio no -8612750.As per norms I am supposed to get Account of Statement 30th March & 30 th September but I am not getting them. I have earlier requested to send the statment through my e mail but not getting them. Please look into it & arrange to send statement through my e-mail.
thanks
D.Barat
my SBI mutual fund -magnum tax gain fund-dividend (L018 magnum tax gain scheme) folio no.7125524 and invested amount of 12000.00 on 31/3/2006 wplease send me my account atatement as on 7/03/2011 through my mail.
i have invested around 5 Lacs in SBI magnum tax gain scheme, could you please let me know when the dividend is going to declare and what is expected this year.
thanks in advance.
Sandeep
I don’t know the answer to either of these questions Sandeep.
Dividend has been declared @ Rs. 4/- per unit on 6th March 2011 but the dividend amount is yet to be credited to my account. Can anyone tell me the tentative date of credit…
It will be credited to your account by this month end.. it takes time to credit.. it cannot be credited as soon it is declared..
Thanks for that info Piyush.
sir,
i have sbi magnum tax gain-growth mutual fund, folio no-10627594, what is the fund value of it as on date?, and what is the procedure for withdrawal?
latest dividend announcement
what impact on magnum tax gain when DTC same as it is implement
The current unitholders won’t have any impact at all. If someone decides to buy this post DTC – then they won’t get 80C benefit from their purchase.
Dear Sir,
Kindly provide us details for claim of SBI magnum tax gain. my folio no. is 7673051.
Thanks,
Devidas Ninu Bhangale
Hi ,
Could you kindly let me know by when the dividend should get credited to our bank account which was recorded on 18th March 2011?
Hi!
Could you kindly advise me how to change the bank details? Is it possible to do it online?
Regards,
Qamar Rizwan
Dividend has been declared @ Rs. 4/- per unit on 6th March 2011 but the dividend amount is yet to be credited to my account. Can anyone tell me the tentative date of credit…
Hai Sir,
I have Invested 20,000 Rs in SBI MAGNUM TAX GAIN SCHEME in Feb2008,I need to redeem ,So i need to know how many units are available.
My Folio no,10572725
Hey, can u advice me how to redeem the units. I had purchased some 200 units in March, 2008. Thanks
Could you please send me the account statement of my SBI magnum Tax Gain fund having folio No.11654090.
Thanks
I have not receive any communication from you after investing two lack in SBI Mutual Fund-L918 Magnum Tax gain Scheme-Dividend Folio no 9791966. I request you send me details with statement of Account, dividend and where is my certificate. I need hard copies with a copy on my e-mail address. My home address is 4/86 vishal khand gomti nagar Lucknow-226010 India
Mobile 9335925918
This is like a newspaper not SBI – please talk to your MF agent.
Kindly provide us details for claim of SBI magnum tax gain. my folio no. is 7673051.
Thanks,
Devidas Ninu Bhangale
Dear Sir,
Kindly provide us details for claim of SBI magnum tax gain. My uncle is accident dead in Feb’ 2011, so Plz, urgently comment me. My uncle’s folio no. is 7673051.
Thanx,
Vinod Chopade
9687798489
Mr. Vinod – I’m sorry to hear about your uncle. Please understand that this is like a news website and not related to SBI, so I can’t send you the statement. You will have to the get in touch with either your uncle’s agent or SBI Mutual fund itself.
This link has their contact info:
http://www.sbimf.com/contactus_location.asp
please send my satment folio No. 11507150
please send my folio statement no….12240073
sir,
my folio no.is 7269086 pl send me a statement of mf
Sir i have got mutal funds worth Rs.30000 under magnum taxgain scheme.Folio no-11211409/2008.Please send me the statement for the same.Advice me for selling it now as what will be the amount I will be getting.
Dear Sir,
My Folio No. 10717998
SBI Magnum Tax Gain Scheme – Growth (L018G).
I want to know – what is the current value?
mobile num :9819380373,9664356009
sir
my folio no. 12884083
please informed me the current value of my sbimf
Plz send the current status of L018 SBI-Magnum TaxGain scheme, Folio Number: 11614436.
my folio no is 7099757 , kindly give us the detailed statement from begining and we had not recd the dividend from last two years
MY REGD FOLIO NO IS 7097842 , KINDLY GIVE US THE CURRENT STATUS OF THE FUND
Dear Sir,
My Folio No. 12879164SBI Magnum Tax Gain Scheme – Growth (L018G).
I want to know – what is the current value?
mobile num :07874834833Reply
Guys,
Nobody can give your Folio info over here.
Kindly contact SBI MF: partnerforlife@sbimf.com or call them at 022-66532807/08/09/10
Also you can create a new login to access you folio information and transact on SBI’s new website.
Following are the details from one of their FAQ doc I had got:
Dear Investors
NEW WEBSITE LAUNCH
Experience the New Website of SBI Mutual Fund, with Enhanced Technology Platform GOING LIVE ON 3rd MAY 2011.
Now, with Invest Online Access facility on SBIMF’s new website, you can manage your account from your desk. Tracking your portfolio and transacting have become effortless.
Existing investors of SBI Mutual Fund having folio can register for Invest Online. Please follow the following processes:
a) Generate Folio Personal Identification Number (FPIN). Steps are,
Step 1 – Go to Invest Online and Click on Register Now Button and select “To generate instant FPIN online, click here” option.
Step 2 – Enter your folio number and email address registered in the folio
Step 3 – Enter your PAN Number and Bank account number registered in the respective folio
Step 4 – Upon successful verification of the above details, FPIN will be generated by the system and sent to your registered email address.
b) Create user Id – On receiving the FPIN by email, create your user id & password. Steps are as follows,
Step 1- Go to Invest Online and Click on Register Now Button and select “If you have already received the FPIN, please click here to create your user id & password” option
Step 2 – Mention the desired User ID, password, Folio Number, registered email ID, received FPIN and click on Submit button
Step 3 – User ID will be created
c) Login to the Invest Online. Map the folio with your User Id and FPIN and start transacting.
d) Follow the same process for mapping other folios held by you under your User id and password.
Hope this helps
That’s the best response I’ve seen to these comments till date!!! Thank you so much for taking time out and writing this Mihir.
sbi magnum taxgain scheme-
folo number: 10726199
what are the latest rates
Hi everyone,
I guess people giving comments are well educated ,literate persons.As the author says this is not sbi mf site its a information site ,still people keep asking questions specific to their folio numbers.
Kindly visit camsonline.com and click on mailback servcies on the left menu and look for consolidated statement.
send statment for the folio No.: 9099997 on my mail it is for L018G magnum tax gain scheme- growth
please send me the account statement of my SBI magnum Tax Gain fund having folio No.10499602
Thanks
Amruth M Patel
I am P.Srinivasa Rao
My folio number for Magnum Tax gain scheme grwoth plan is 11226124.
Tenure of the scheme crossed three years. I would like to withdraw the amount. Please suggest.
i am SBI Tax Advantage Fund unit holder.My folio no. is 11028272.i am not getting the status of my units as emails. Kindly suggest
pleas advise me about sbimf.more detail
Please send the details of my account balance for FOLIO NUMBER- 8811290 of “L018 MAGNUM TAX GAIN SCHEME” on my email address.
Hello sir,
yself & my wife ( H S Rajamohan & Mrs.Sudha Rajamohan) have invested rs.49,000.00 each vide Folio Nos. 12775332 & 12775294 respectiely. In order to file our annual taxes , we need the account statement for both the Investments ,urgently. Request you to forward the same to our e mail address :rajamohan_h@hotmail.com or to our address : # 303, Skyline Chalet, Diwan madhav rao road, basavanagudi, Bengaluru-560004 (tel : (080) 26620396, immediately. Please acknowledge this request & reply to my email about the despatch of statements. Regards. Rajamohan & Sudha Rajamohan
← Previous Comments
Next Comments →
{ 2 trackbacks }