Mutual funds not only give better returns than banks but they are also the favorite of investors because it is easy to withdraw money from it. Today we will tell you how you can withdraw your money by redeeming the units of Mutual Funds. The way is easy, not difficult.
This is the process of redemption of mutual fund units
If you want to redeem units of mutual funds, then you can start this process on any business day. If you want to go and do this work yourself, then you must first download the transaction slip from the website of the mutual fund company and fill it properly. You can submit this redemption application at the official office of the mutual fund company. If you want, you can also use the online facility of mutual fund companies. Many mutual fund companies provide the facility of online redemption (redemption of mutual fund units) through their websites. If you have invested through an online portal, you can also redeem your units using the online facility.
Mutual funds money will be available in this time
If you have invested in liquid or debt oriented mutual funds, then you will get money in one to two days. The money from equity funds comes to the investors in 4-5 days. Yes, the point to be noted is that if you have invested in equity funds and are redeeming the units within 365 days of purchase, you may end up paying an exit load of 1%. There is no exit load on Liquid Funds, Ultra Short Term Funds etc.
The money received by redemption of units of mutual funds is directly in your bank account if you have given all the details of the bank at the time of investment. If the mutual fund company does not have complete details of your bank, then money will be sent to you by cheque.