HDFC Bank has launched a Maruti-800 car finance scheme, whereby it will provide 85 per cent of the on-road price, including registration and insurance, for a tenure of seven years. As Maruti 800 is placed as an entry-level car, the scheme is suitable for people keen to upgrade from a two-wheeler to a car, with a nominal difference in equated monthly instalments.
Kotak Mutual Fund has unveiled Kotak Equity Multi-manager Fund of Funds for diversified equity schemes. The portfolio will comprise both large-cap and aggressive diversified equity schemes from all mutual fund houses in the country. The entry load is 2.25 per cent and there will be an exit load of 1 per cent if redeemed within a year of investment. The minimum investment amount is Rs 5,000 and the initial public offer will remain open till July 19, 2004.
In a group
Allianz Bajaj Life has launched a unit-linked group superannuation and group gratuity scheme, apart from the regular group term life scheme and group term life in lieu of Employee's Deposit Linked Insurance Scheme. The unit-linked products will provide policyholders the choice of investment in short-term debt, balanced or income funds. The company has also launched a keyman insurance, which protects business against the loss of key people.