ICICI Prudential Nifty Bank Index Fund

To start an SIP in ICICI Prudential Nifty Bank Index Fund:

1. Login to the Kotak NEO App and tap Invest on the bottom navigation bar.
2. Under Other Investments, select Mutual Funds and search for ICICI Prudential Nifty Bank Index Fund.
3. On the ICICI Prudential Nifty Bank Index Fund details page, tap Invest Now.
4. Enter your investment amount under Monthly SIP, select your SIP date, and choose First Payment Now to complete the payment and initiate your SIP.

This simplified process helps you start your SIP quickly and efficiently.

To invest in ICICI Prudential Nifty Bank Index Fund:

1. Login to the Kotak NEO App and tap Invest on the bottom navigation bar.
2. Under Other Investments, select Mutual Funds and search for ICICI Prudential Nifty Bank Index Fund.
3. Open the scheme details and tap Invest Now.
4. Choose One-time Investment, enter the amount, accept the T&C, and click Proceed.
5. Complete the payment via your bank’s e-banking page.

Your order will be successfully placed upon payment confirmation.

To automate an SIP in ICICI Prudential Nifty Bank Index Fund, use the Auto-Invest feature on Kotak Securities. This allows you to set up automatic investments, SIPs in mutual funds at regular intervals. Once configured, your chosen amount will be invested in the ICICI Prudential Nifty Bank Index Fund automatically, ensuring consistent contributions without manual intervention.

To withdraw or redeem your investment in ICICI Prudential Nifty Bank Index Fund:

1. Login to the Kotak NEO App and access the Mutual Funds section.
2. Tap Reports on the bottom bar and select Manage SIP.
3. Find the ICICI Prudential Nifty Bank Index Fund, tap the three dots, and select Stop SIP.
4. Confirm your action, and your SIP will be successfully stopped.

This streamlined process will help you redeem your investment quickly.

NAV stands for net asset value, where the performance of a mutual fund is derived by its NAV per unit. NAV per unit is the market value of securities in a scheme, divided by the total number of units in the scheme on a given date.

The Net Asset Value of ICICI Prudential Nifty Bank Index Fund is ₹14.21

AUM means ‘asset under management,’ which implies the cumulative sum of the market value of total securities held in a mutual fund scheme. MFs invest in Equities, Bonds & other such instruments. If you add the market value of all the investments made by the mutual fund along with any idle cash that it holds, the final tally is called AUM. It tells you how large or small a mutual fund is.

The AUM of ICICI Prudential Nifty Bank Index Fund is ₹497.39 Cr.

Every mutual fund scheme has a minimum SIP amount, which one may start with.

The minimum SIP amount of ICICI Prudential Nifty Bank Index Fund is ₹100

As per SEBI Regulations, mutual funds are permitted to charge certain operating expenses for managing a mutual fund scheme. The total expense ratio is calculated as a percentage of the scheme’s NAV. It's deducted from the total revenue generated by a mutual fund before disbursing it to the investors.

The Expense Ratio of ICICI Prudential Nifty Bank Index Fund is 0.82%

It’s a fee charged by the mutual fund house if an investor fully or partially exits from an invested scheme within a stated period from the date of investment. The time period for which it applies varies with the type of fund. It's calculated from the date of investment, whether in SIP or lump sum form.