In a first for a banking company, Chase Manhattan Corp. has disclosed plans to sell a cut-rate mutual fund investing service like those of some discount brokerages.

The service will allow investors to buy a wide range of mutual funds from several different fund companies without paying sales commissions or transaction fees. A Chase official said the service will be available in the third quarter.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.