Mumbai:

There is an increasing trend, to present a gift that is more long-term and will serve a definite objective or aspiration. What can get better than gifting an investment solution that addresses the financial objectives, needs and aspirations of the loved ones? More so, gifting an investment solution suits all gifting purposes and occasions like on festivals like Diwali and Rakhi and occasions like birthdays and anniversaries.

Prudential ICICI has introduced the Gift Certificates after taking into consideration the need to offer their customers an easier and hassle-free means of gifting mutual fund units. Unlike other gift options, PruICICI''s Gift Certificate captures the imagination of a typical gifter who not only intends to gift money, but also wants the value of the gift to enhance in the hands of the recipient, over a period of time.

Here is an example on how a Gift Certificate works: Sishir Gupta, 55, lives in Delhi and has just taken a voluntary retirement scheme. It is his daughter-in-law''s birthday and she resides in Mumbai. He wants to send her a birthday present. The daughter-in-law is a modern, independent, working lady and hence the gift needs to be something substantial.

He is not willing to send her cash, so he goes to the PruICICI designated customer service centre. He fills a Gift Certificate form and submits a cheque to the customer service centre. Now the customer service officer enters the details in the Gift Certificate software and creates a personalised Gift Certificate. Gupta sends the Gift Certificate to his daughter-in-law. She either goes to the designated Mumbai branch or sends the duly filled and signed application form for encashing the Gift Certificate. She then can select any designated mutual fund schemes that Prudential ICICI has to offer.

Says PruICICI deputy CEO Pankaj Razdan: "Mutual fund gifting is not just a gift but a beginning of a valuable relationship which will be cherished and remembered with gratitude by the loved ones. It creates an opportunity for your loved ones, the habit of making informed investments in schemes that can help achieve their financial goals. It''s no wonder that the Gift Certificate product has been launched after taking into consideration the need to offer customers an easier and hassle-free means of gifting mutual fund units."

Gift Certificate is an ideal way to introduce loved ones to the concept of investing. It offers a wide range of schemes including equity, debt and balanced funds. The giftee as per his or her needs and time can choose the designated schemes that suits him or her the most. The positive side of the Gift Certificate is that instead of gifting lifestyle consumables like gadgets and jewellery or for that matter cash, one can chose to gift an option that addresses a long-term objective or need.

The designated schemes for the purchase of the gift certificate are Prudential ICICI Income Plan, Prudential ICICI Monthly Income Plan, Prudential ICICI Child Care Plan, Prudential ICICI Balanced Fund, Prudential ICICI Growth Plan, Prudential ICICI Tax Plan, Prudential ICICI Power, Prudential ICICI Technology, Prudential ICICI FMCG Fund and Prudential ICICI Dynamic Plan.

The major features of the product are that the minimum amount for which the certificate can be issued is Rs 5,000 and in multiples of Rs 1,000. Gift Certificate will be issued on receipt of the cheque and gift certificate application from the gifter. Gift Certificates can be encashed at any of the designated branch.

The designated branches for the purchase and encashment of the Gift Certificate are Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, Goa, Hyderabad, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, Ludhiana, Mangalore, Mumbai, New Delhi, Patna, Pune and Vishakapatnam.

The validity period for the certificate is three months from the date of issue. Prudential ICICI will not be responsible for any loss of the certificate post issuing to the gifter and receipt of the same from the giftee. The cheque received from the gifter will be banked only on receipt of the application form and the gift certificate signed by the giftee.