PayMate service

ING Vysya Life Insurance has introduced a mobile payment facility called PayMate, which enables policyholders to pay their premium through an SMS for no additional cost. The service is now available only to Citibank and Corporation Bank customers. The payment is done in two simple steps — a customer sends an SMS with the policy number prefaced by the abbreviation 'IVL' to 667711. After receiving a reply confirming the premium amount due, he/she has to send the PayMate PIN and will receive a payment confirmation reply within a few seconds.

Dynamic fund

HSBC Mutual Fund has launched Dynamic Fund — an open-ended scheme that allows an investor to shift his/her investments in equities to fixed securities to reduce the impact of sharp falls in the market. The scheme is open for subscription till August 30. The fund aims to invest across sectors with no market cap bias and will have 90 per cent of the funds invested in not more than 30 shares.

DBS Chola

DBS Chola has launched a three-year close-ended infrastructure fund. The fund will be converted into an open-ended fund after three years from the date of allotment. The new fund offer is on till September 6 and minimum investment is Rs 5,000. There is no entry load.