SBI Magnum Taxgain scheme

by Manshu on March 18, 2010

in Mutual Funds

SBI Magnum Tax Gain
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.

{ 40 comments… read them below or add one }

shashi bhushan prasad July 7, 2011 at 8:35 am

Please send the details of my account balance for FOLIO NUMBER- 8811290 of “L018 MAGNUM TAX GAIN SCHEME” on my email address.


Mr H S Rajamohan & Mrs.Sudha Rajamohan July 15, 2011 at 6:03 pm

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 :[email protected] 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


Gyanesh Kumar Saxena July 21, 2011 at 12:19 pm

Pl. send me the statement of account for Folio Number : 10373620 of L018SBI-Magnum TaxGainScheme-Dividend


greesha sharma October 20, 2011 at 7:21 pm

Hello Sir,

my folio no. 8874720 please informed me the current value of my sbi lo 18 magnum taxgain scheme-


Jayant Manohar Raole November 27, 2011 at 8:20 pm

pl send me the statement of account for the L018 magnum Tax Gain Scheme. Secondly pl provide me the details of unclaimed dividends scince 2006. pl inform me the procedure to claim such unclaimed dividends. MYfolio number is 7040641. mychenged address and mobile no. are given below: –
Jayant Manohar Raole,
Flat No. 9, Siddhi Enclave ,
Opp. Mahila Bank,
NASHIK- 422009.
Mobile NO. 9405176279


Janaki Devi Kumar December 5, 2011 at 5:12 pm

Please send me the statement of account for the LO18 MAGNUM TAX GAIN SCHEME. My FOLIO NUMBER IS 10651467. Also I would like to know the current value of these funds.
Janaki Kumar


neeru December 8, 2011 at 2:03 pm

please send me nav of l-o18 SBI MAGNUM TAX GAIN SCHEME


asok pare December 9, 2011 at 12:25 am

please send statement of account folio no 12634999


asok pare December 9, 2011 at 12:30 am

please send statement of Mrs Archana Tare folio no 12819284


asok pare December 9, 2011 at 12:43 am

please send statement of account folio no 12634999 My mobile no 8989528876



mahesh b taware January 12, 2012 at 2:37 pm

pl send finacial statement 2011-2012 of account folio no 12787208


Manjunath AS January 19, 2012 at 9:58 pm

My SBI Magnum Tax Gain Scheme 3 years locking period is over, now i want the money back.
Kindly advise how i can get the money back, provide if any contacts.


debajit b talukdar January 20, 2012 at 4:51 pm

sir,please send my a/c details at my home add. my folio no. is 12532897.


Gerson Mario Coutinho January 24, 2012 at 7:55 pm



SRINIWAS SINGH February 13, 2012 at 3:28 pm

please send statement of account folio no 12758413.AS SOON AS POSBILE……………MY MOBILE NO.9919840104


SANJIV WAMAN GAJARE February 18, 2012 at 10:27 pm

My folio no. is 8487526 (L018 Magnum Tax Gain)

Kindly send the present statement of above mentioned folio by email at the earliest
or present status of this folio

Sanjiv W Gajare


T.L.Goel February 18, 2012 at 11:20 pm

Dear Sir,
Please send statement of Account Folio No 8578555 ASAP……………My Mobile No.9875004615 , 9828574615.


Ajeet kumar February 19, 2012 at 11:48 am

kindly tell me the surrender value of folio no 12535290


dinesh singh March 6, 2012 at 3:57 pm

please send statement of folio no. 12856707 from April 2011 to Feb 2012.


Dr. Mansoor Ahmad March 14, 2012 at 9:10 pm

Please inform me about the SBI Magnum Taxgain scheme, I have invested in December,2007, please send statement of folio no.10318456


Farooq Ahmad March 17, 2012 at 5:44 pm

Please send me the statement of account for the LO18G MAGNUM TAX GAIN SCHEME-Growth. My FOLIO NUMBER IS 11010635. Also I would like to know the current value of these funds.

I purchased first fund for 10000.00 in 2008 and second fund for 20000.00 in 2009. Both funds completed 3 years. Now i want to know the current value of these funds. FOLIO NUMBER is same for both the funds.

Farooq Ahmad


RANJIT SINGH CHAUHAN March 24, 2012 at 12:11 pm

please my statement of account on above e-mail address.


Ranjit Singh Chauhan March 24, 2012 at 12:43 pm

pl. ignore the above message.


Ranjit Singh Chauhan March 24, 2012 at 12:18 pm

please send my statement of account by e-mail as above. My folio number is 12267389.Please also let me know if any dividend was ever sent to my bank account sbi 1032 446 1608. my bank has no information.
thanks and regards


Pralay Bose April 2, 2012 at 12:30 am

Can you please, please send my statement in my email, my folio number 10649681


Manshu April 2, 2012 at 3:33 am

Look this is a blog like a newspaper – this is not the SBI website – you need to talk to them to get your statements. No one is going to get any statements by leaving comments here. Just scroll up and read the 100 other comments that have been posted here.


NAGESH G SHANBHAG April 14, 2012 at 7:14 pm

Kindly send me details to find out my ledger no.,folio no. as the certificate is not received.


prem singh April 17, 2012 at 1:33 pm

kindly send me the statement of my account bearing folio no.12212168


deepa gaikwad. May 6, 2012 at 5:16 pm

kindly send me th statement of my account bearing folio no.12264956


harisadan banerjee June 2, 2012 at 11:16 am

plz send me the statement of my account of folio no 8608621


Atul ch. Sarmah August 16, 2012 at 10:50 am

Sir, plz send me the statement of my account follio no 11128778 and how can I get return the ammount


Nirav Chandrakant Bhavsar September 10, 2012 at 2:58 pm

Sir, plz send me the statement of my account follio no 11721916
how can I get return the amount


Ravindra Singh September 14, 2012 at 11:21 pm

Dear please mail me statement my folio number : 8450528 my mobile number : 9930862444


PRADEEP PERIWAL September 19, 2012 at 2:31 pm

Pl send me the latest nav of my folio no 10584218of L018 magnam tx gain scheme on my mob. no.09826479720


Janani Natarajan September 26, 2012 at 9:07 pm

Folio No.10529380 I have invested two gain bonds to the tune of Rs.20000 +Rs.20000 = Rs.40,000/= How to approach to get back my invesment after maturity peiod. pl;ease furnish contact address at Chennai at the earliest.
Janani Natarajan


KAMAL December 12, 2012 at 7:37 pm

Please send me account statement of sbi magnum tax gain folio number10592704


KIRAN MATHUR December 14, 2012 at 5:01 pm

please send me the account statement of my SBI magnum Tax Gain fund having folio No.12246989 as soon as possible,.


G.Thangagopi May 3, 2013 at 12:44 am

Please send me an outstanding amount of my account, and my Foloi number is 12298920


kartick chandra pau May 3, 2013 at 12:17 pm

Dear sir, kindly provide me details of sbi magnum tax gain scheme regular plan folio no is 11067353.i want to know what is the current value?#o


Maria Coutina May 28, 2013 at 1:06 pm

I need to know the current value of investments in SBI Magnum Tax Gain Scheme. Could you please confirm let me know as to where I could check in online


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