Emergency Fund is a new innovation for your convenience. A new category of mutual funds where you can keep your spending money and use a Debit Card whenever you need to buy something or withdraw cash from an ATM.
If you need the money in less than 1 year OR if this is your Emergency Fund, you need the ability to get and use the money in a hurry and should invest in the Emergency Fund category.
This category has a single fund - Reliance Money Manager Fund, which has been a part of our Debt fund portfolio since 2014. The debit card is offered by Reliance mutual fund in association with HDFC Bank.
Once you invest in this fund, you can request a debit card through Scripbox. It takes about 2 weeks to reach you and after then you can use it any Visa ATM or point of sale.
Please note that with your debit card you can only withdraw your investment in this particular fund and not your equity funds or other debt funds.