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How to redeem mutual funds units – Procedure and Forms to fill ?

by Manish Chauhan · 180 comments

Most of the people investing in mutual funds through agent offline have this question – “How to redeem mutual funds ?”.  mutual funds investors often do not know what the procedure to redeem these mutual funds. I redeemed some of my ELSS mutual funds (HDFC tax saver , Sundaram Taxsaver, HDFC long term advantage Fund and SBI magnum taxgain fund) which I had bought some years back from an agent, so I thought why not let everyone know what is the simple procedure for redeeming the mutual funds.

Mutual funds redemption Process

Process to redeem Mutual Funds

if you have bought the mutual funds from an agent or from the AMC directly, then you will have to fill up the mutual fund redemption form. This form is available from the mutual funds AMC office (you can get its office address from internet). You will have to go to their office in person. You can also go to the nearest CAMS office and fill up the mutual fund redemption form directly from there.  It’s much convenient to visit CAMS office and directly redeem more than one mutual funds in one go (this is what I did in my case).

The redemption form is very easy to fill and all you need to put is your name, folio number (make sure you put correct folio number, else it will create issue later) and the number of units (exact number or ALL) you want to redeem. Just give this form to the CAMS processing assistant and they will put up your request.

Important Points

1. NAV Applicable: If you give your redemption request before 3:00 pm, the same day closing NAV will be applicable, else you will get next day NAV. So make sure you do the redemption well before 3:00 pm if you want same day NAV.

2. Bank accounts: Where will you get the money when you redeem the mutual funds? You will get the proceeds in your same account which is registered with your AMC (which you used to pay at the time of buying). If that account is not active, then there are few run around like you will have to attach the cancelled cheque of your new bank account or copy of pass-book etc and if you don’t have that, then a declaration from the bank and sign of some bank manager etc. So this can be a little frustrating if you are in urgent need of money. In my case my old account was active so it was pretty easy for me.

3. CAMS do not handle all the AMC’s redemption: CAMS do not handle each and every Mutual funds transaction. It can happen that you will have to go to the AMC office itself for redemption. Like in my case I had to go to Sundaram AMC office to redeem my Sundaram Tax Saver proceeds. So check with CAMS which all mutual funds they handle, you can shoot an email to your city CAMS (their emails and addresses are there on CAMS website

4. How much time it takes to get money? : It generally takes 3-4 working days to get the money credited in your account. But in my case I got it in next 2 days itself. So if you redeem the funds on Monday or Tuesday, you can safely assume that you will get the money by the weekend. But if you have weekend falling in between, then it can take some time.

Process of redemption if have bought Mutual funds online

If you bought your mutual funds from your demat account or some online brokers or if you activated your online account after buying from agent, then you can redeem your mutual funds online itself just by following the procedure mentioned by your online account. Most of the people who buy tax saving mutual funds (ELSS funds) online can also redeem tax saver mutual funds online only.

Did you activate your online account with the AMC ?

If not, I would suggest you to do it, so that you can take the redemption action as and when required. What was your redemption of mutual funds experience? What point’s people should keep in mind while redeeming? I hope you are not clear on how to redeem mutual funds ?



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{ 180 comments… read them below or add one }

1 nitinpai September 15, 2011 at 6:55 pm

Hi Manish,

I am currently planning to redeem some of my older mutual funds which I bought from my agent before the online facilities came in picture.

However, I would advice that instead of redeeming it directly from your agent to get a lumpsum amount try converting your non-demat folios into demat folios so that you can start an STP from that fund to another fund.

With lumpsum redemption there might be some losses which you can avert by an STP online through your demat.

Reply

2 Manish Chauhan September 16, 2011 at 10:01 am

NitinPai

Can you explain why there can be losses in redeeming it one time ? I am not clear on that .. Also how does one avoid if one wants the money urgently ?

Manish

Reply

3 nitinpai September 16, 2011 at 3:13 pm

Hi Manish,

I was referring to notional losses. For example, if the stock market is doing well and the fund is growing in its NAV then if you redeem the lumpsum then you might miss out on the profit from the higher NAV.

On your second point, yes if the redemption is for a goal then you would obviously have to redeem out the entire amount.

But for other emergencies I believe you need to keep a contingency amount in a liquid fund.

Reply

4 Manish Chauhan September 19, 2011 at 8:54 am

NItin

Yea .. but why are you only thinking about notional losses .. There can be notional profit too.. what if market crashes after you redeem ?

The decision you will take has to depend on what you need now, not on the future of your mutual funds .

Manish

Reply

5 nitinpai September 19, 2011 at 7:20 pm

Manish,

Yea, you are right. I was thinking uni directionally. :)

By the way, I am facing one problem. I want to dematerialize Sundaram Bnp Tax Saver Fund ELSS Dividend. For this I have to submit the latest statement to ICICIDirect.

But when I check on CAMS, Sundaram Bnp is not more in the listed AMC’s and now only Bnp exists for which it says my folio is not valid folio number. What should I do now?

Reply

6 Manish Chauhan September 22, 2011 at 9:32 pm

Nitin

No idea on dematerialization question . One thing is why do you want to dematerialise it .. If you have crossed 1 yr , then better sell off and repurchase .. fast and easy , a little price

Manish

Reply

7 Madhu September 23, 2011 at 5:27 pm

@Manish,

I felt the need of dematerialization when I want to move my MF’s from Sharekhan Online to Funds India. The process ( as told by Sharekhan) is convert the Online Funds to offline, Change the broker and then convert it to Online.

I have submitted a resuest to SK to convert my funds to Offline a month ago and still not heard back from them. The delay might be at the fund houses too :)

Reply

8 Manish Chauhan September 24, 2011 at 9:06 pm

Madhu

Yea ,, it can happen .. good to hear that SK is so supportive of giving info :)

Manish

Reply

9 ATS Preeth February 11, 2012 at 10:38 pm

Hello Nitin,

Sundaram BNP Tax Saver is now Sundaram Tax Saver as BNP is different AMC after buying Fortis.

Anyways… you need to contact Sundaram MF for this conversion. Also, why do you want to move MF to demat mode? It will cost higher when you starting SIP’ing or buying MF via them. Do check on it.

Instead for pure MF if you need to go online, opt for Fundsindia, Moneysights, Fundsupermart etc… they are free and cheaper alternative and you have complete control.

Reply

10 SAURAV SINHA September 15, 2011 at 7:08 pm

Gud article Manish,
CAMS facility is really a big help for us. Can we redeem ULIPS as well thru CAMS?

Reply

11 nandish September 15, 2011 at 8:27 pm

Saurav ULIPs cant be redeemed through CAMS they need to be surrendered from the respective insurance company.

Reply

12 Jitendra Solanki September 15, 2011 at 7:33 pm

Good one.

Some points to consider while redeeming Mutual Fund Units:

1. If address is changed, the AMC does not accept any address change applications.All AMCs now pick it from KYC.Hence you need to change KYC address.
2.Some companies like SBI, you do not need to register seperately for online access.Even if you are doing it first time you just go to the web site, register and do your transaction. So there is not TAT for online access.Instant password and transaction happens. I did it once.
3. With some AMCs, the change in bank mandate during redemption might make the process linger as first the bank information changes which itself take few days and then the redemption is processed.
4. Never do a urgent redemption if doing it offline.I have experienced people coming for redemption because they need the money in third day.Many of them faced dissatisfaction due to technical reasons or may be anything.Always have enough time when you redeem your money.

I do not think in this market fall many investors are redeeming their money.Two Reasons- Lesson is learnt from previous fall and secondly most of the investment after that has been coming through SIPs.

Reply

13 nandish September 15, 2011 at 8:46 pm

I learnt a few good points. Thanks for sharing with people

Reply

14 raj September 15, 2011 at 7:50 pm

Manish ,
Good article.
I have Sharekhan D Mat a/c.(online)
I have redeem 01 unit of 1-UTI banking- Got a Cheque from UTI
2. Reliance Banking – Got a cheque from karvey
I asked Sharekhan officers why I have got a cheque instead of direct credit to Bank? He replied that your MICR no. is not linked. After my MICR of SBI & ICICI is linked, I again Redeem 01 unit for trial, again I got a cheque.
I wish that my money should be credited directly to my account .
What should I do?
Do I have to submit MICR no. to each AMC?
Again I have 01 query- How should we nominate MF?

Awaiting your valuable advice.

Raj

Reply

15 Rakesh September 15, 2011 at 8:05 pm

Raj,

I will answer the nominee part. You need to download the nominee form from the fund house or from CAMS if the fund is served by them. Fill in your personal details along with folio number and the nominee details and send it to them. Within a week your nominee details would be updated. I have just appointed nominee for my funds last month.

Rakesh

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16 raj September 15, 2011 at 9:45 pm

Rakesh,

Thanks a lot.
From many days I am just postponing Nominee procedure as I am thinking that it would be difficult and boring task.
Again I have one query-After filling the form to whom should it be sent?
AMC or CAMS/KARVEY?

Raj

Reply

17 Manish Chauhan September 16, 2011 at 10:12 am

Raj

A lot of AMC’s appoint CAMS & KARVY for their work , so sending them would work . but a lot of funds dont , like Sundaram does all the work itself and does not take help from CAMS on this , so you have to send it to AMC in that case

Manish

Reply

18 Madhu September 23, 2011 at 5:30 pm

Franklin is another guy.. they does the RTA work themselves

Reply

19 Rakesh September 15, 2011 at 8:01 pm

Manish,

Very good explanation. I have been redeeming my mutual funds both offline and online without any problems. I don’t think in case of offline redemption you need to go to CAMS or Fund office. You can courier the redemption form to them and follow-up after 3-4 days.

Rakesh

Reply

20 Ivan September 16, 2011 at 10:10 am

I agree with Rakesh, there is no need to visit the CAMS or KARVY or FT office to redeem the MF Units.

First check the registrar of your fund. Download the transaction slip from their website, fill it and send it even in regular post to their nearest office or their HO.

Your money will be deposited in the account which you have registered with that fund house in 2 to 3 working days after your request reaches them

The best thing to avoid all this hassles is to move your offline holdings to one of the online MF provider like FundsIndia, once they are linked to your a/c in these sites, redeeming is as easy as click of a button.

Its better to get the KYC done and inform your mutual funds, they will update your address, bank a/c , email id and cell number from the KYC details which will be good so that all your details are up to date.

There is one more way to send a single request to update your contact address and bank details using PAN based request, you need to send the PAN based request to all the registrar’s (CAMS, KARY or FT) then all the MFs holdings with the quoted PAN number will have the updated details

Moving the units DEMAT form will have cost implications as service provider will charge the transaction fee ( I have not tried this, I am not sure though, but read some where )

-Ivan

Reply

21 Manish Chauhan September 16, 2011 at 10:13 am

Rakesh

Yes . one can post the redeemption forms to AMC office or CAMS . By if its a few Km away , one can complete the things by going there,.. in my case i did that

Manish

Reply

22 Ashish September 15, 2011 at 8:56 pm

Can anyone let me know what are the pros & cons in investing in MF directly through AMC, Online and Agent?

Reply

23 Manish Chauhan September 16, 2011 at 10:17 am

Ashish

For you there is no difference if you look at it from cost point of view .. the only thing is with AMC that trail commission will remain with them . This article will give you more idea : http://www.jagoinvestor.com/2010/04/understanding-different-commissions-on-mutual-funds.html

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24 Akshay September 15, 2011 at 8:57 pm

I have HDFC Equity and HDFC Top 200 under the same folio no. How do i redeem some units of 1 of them..??

Reply

25 nandish September 15, 2011 at 9:26 pm

Akshay you can go to the following link and put a request of redemption http://www.utitsl.co.in/forms/Transactionslip.pdf

mention folio number and scheme name that you want to redeem

Reply

26 Manish Chauhan September 16, 2011 at 10:18 am

Akshay

Along with folio number , you also have to mention the fund name . So that way you can put name of only that fund which you want to redeem

Manish

Reply

27 raj September 15, 2011 at 9:54 pm

Hi Manish,

As Akshay asked in reply 11, can we buy different MF schemes from different AMC with same Folio no.? What are the pros & cons of it?

Raj

Reply

28 Manish Chauhan September 16, 2011 at 10:20 am

Raj

No , the folio number would be different for different AMC , in akshay case the fund house was same (HDFC) , hence the folio number was same

Manish

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29 Mathu September 15, 2011 at 10:07 pm

Hi Manish, I buy mutual funds through Fundsindia.com. I use my SBI Bank online account for purchase. Recently i redeemed one of my funds through fundsindia.com. I thought amount will be credited in my bank account directly. But I got a cheque for the amount from the CAMS. How can I make my future redemptions with direct credit.

Reply

30 Manish Chauhan September 16, 2011 at 10:21 am

Mathu

This is fundsindia related , Srikanth would be able to answer why this happens .. Let me get him here to answer this .

Manish

Reply

31 Srikanth September 16, 2011 at 10:35 am

Hello Mathu,

The mode of redemption is done per the policies of the mutual fund companies. For all CAMS funds, the AMC will attempt direct credit (if they have an account with a list of specific banks), then an NEFT/RTGS transfer (for other banks). If they have an issue doing of of these two, they will issue a cheque to the address. The only issues in this case would be a mismatch between the detail in the folio and and bank account. For example, if there is a mismatch between the name registered in the folio and the bank account, the electronic transfer will be denied, and a cheque issue will happen.

Please send us a mail at contact at fundsindia with the folio details, and we can investigate for you.

For funds in Karvy, the process is a little different. For a set of funds that are registered to a bank account in a list of banks, they will do a direct credit. Else they will issue a cheque. Reliance is a prime example of this kind of funds.

Thanks,

Srikanth

Reply

32 raj September 16, 2011 at 1:06 pm

To Shrikanth and Mathu,
Thanks for Mathu’s question and Shrikanth’s reply.

Raj

Reply

33 Mathu September 17, 2011 at 8:37 pm

Hi Srikanth, Thanks for your clarification. I will send the mail. The fund in question is JM Money manager super. I bought this in lumpsum and through the online account of my SBI savings bank.

Reply

34 Srikanth September 18, 2011 at 9:11 am

Mathu,

JM is a Karvy managed fund house. It is likely that SBI is not in the list of banks for JM that process electronic credit, and hence the issuance of cheque. Please do send the details and I’ll verify.

thanks,

Srikanth

Reply

35 Mathu September 18, 2011 at 3:45 pm

Thanks Manish and Srikanth.

Hi Srikanth, as you said I have sent the mail from Contact us in Fundsindia.com.

Reply

36 Trishit Ray September 19, 2011 at 4:48 pm

Muthu,

I have been following your conversations with Srikanth.I request you to update this thread readers what happens finally.

Regards,

Trishit Ray

Reply

37 Trishit Ray September 19, 2011 at 4:50 pm

@Mathu

Sorry I typed your name as Muthu.

Trishit

Reply

38 Mathu September 19, 2011 at 10:32 pm

@ Trishit, I sent a mail to fundsindia.com and got a reply that JM doesn’t support SBI for Direct credit. They said I will receive cheque payment only.
I contacted JM directly. They asked me to send the filled redemption transaction slip (downloaded from JM site) directly to them with a note saying NEFT payment to be done. I have to check whether that works.
Mathu

Reply

39 Srikanth September 20, 2011 at 10:48 am

I was surprised to hear JM’s response to Mathu. So I followed up as well (if they can do it for one case, why not for all?).

Apparently, they are currently doing it on a case by case basis for offline requests such as this. My team (ops team at FundsIndia) is following up with them to see if they can make it uniformly this way for all our customers since they all prefer it in this manner. Let’s hope they will start doing so.

Thanks, Mathu, for the follow-up and interest in this regard,

Srikanth
FundsIndia.com

40 Ramesh September 16, 2011 at 8:36 am

Hi all,

Does anyone redeemed online? i have a query here…
I have bought units at different dates. I have not seen any option to choose units bought on particular date….
How the fund house choose which units are to be considered for redemption?
Will they redeem from the recently bought?

Reply

41 Manish Chauhan September 16, 2011 at 10:31 am

Ramesh

Do you really think matters ? How does it matter ? You sell X units , thats all , which unit is which one does not matter .. Its like you bought 2 apples at Rs 10 and Rs 20 and now their market price is Rs 30 each .Which one would you sell ?

Manish

Reply

42 Ramesh September 16, 2011 at 11:29 am

Hi Manish….

yes it matters in exit load if some units are bought before one year and some are bought after one year….
And if all the units are less than an year old, then I can choose the recently bought units so my first bought units will still maintain their age..
Do you have any idea on this…
Thank you for your reply.

Reply

43 Ram September 16, 2011 at 12:11 pm

It is always FIFO (First In First Out) format. You can not specify the date.

Reply

44 Ramesh September 16, 2011 at 12:45 pm

Hi Ram,
I think Last In First Out is beneficial as I mentioned above.
“If all the units are less than an year old, then I can choose the recently bought units so my first bought units will still maintain their age to avoid exit load”.

BTW FIFO is your observation or officially stated somewhere?

Reply

45 Srinivas September 16, 2011 at 6:06 pm

It is always FIFO format

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46 prabe September 16, 2011 at 8:58 pm

@Ram your statement does not make sense Last in First Out will make you pay the exit load for units bought within prior 12 months.

You should understand every purchase has a Exit load period its not like every folio has a exit load period.

So in case of First in First Out i will be redeeming the funds which i bought in the beginning and it that has been before 12 months i will not have to pay the Exit Load

Reply

47 Ram September 17, 2011 at 2:47 pm

@Ramesh, it is official FIFO. You can check the same with any AMC.

@prabe, I could not understand which statement of mine, you could not make sense of. Say if you are redeeming 100 units and you have 100+ units older than 1yr, you need not pay any exit load. Any confusion?

Reply

48 Manish Chauhan September 17, 2011 at 5:11 pm

Ram

I am confused with this conversation of FIFO & LIFO . Does AMC’s mention anything like that ? When I redeem X units out of my X+Y units , then are those units marked with dates ? Its pretty clear that what I am selling is the oldest one .

Manish

Reply

49 prabe September 17, 2011 at 5:48 pm

@ram
it should have been @ramesh typo error from me

Reply

50 Ram September 17, 2011 at 10:33 pm

Manish,
As you said, “… Its pretty clear that what I am selling(FO) is the oldest one (FI)”… hence FIFO …

Say, someone has done SIP in some MF from Jan 2010 to Dec 2010 (1st of every month). Now if he wants to redeem some units on 2nd Jan 2011, then only the units that were purchased on Jan 2010 would be more than 1 yr old, hence would not have any exit load. If he is redeemin more units (on 2nd Jan 2011) that what he purchased on 1st Jan 2010, then those extra units would have exit load.

Does this answer your question?

Reply

51 Manish Chauhan September 19, 2011 at 8:58 am

Ram

No it doesnt .. In your example ,you are assuming that companies label units based on date of purchase .. like they keep boxes for each month and keep units in seperate boxes and when you ask them to sell , they take out units from those boxes (just an imagination) ..,

What I am saying is that when you ask for redeemption , all they do is see how many units you want to sell and overall are there units which are old enough to not have exit loads , there is no “labeling” , so FIFO concept in implicit and not literally practiced .

Are you getting what I am trying to say ?

Manish

52 raj September 19, 2011 at 9:32 pm

Hello Manish,
nice article. And it has raised a very Vital Issue i.e.
** if one Re-purchase units of SAME Folio No. in same MF scheme; then purchaser is at a dis-advantage. Compared to a purchaser who EVERY TIME Re-purchase units of same MF scheme but in New/DIFFERENT Folio No. As the later purchaser can redeem as per his/her Exit Load time line and there by saving 1-2%.

53 Shobha September 16, 2011 at 8:40 am

Hi Manish,

If you do not have time to visit the AMC or CAMS office, you can do it by Post too.

In my case while redeeming my MF, I had just couriered the filled and Signed Redemption slip (Available in MF statement they send or Downloaded Online) after confirming with their customer Service.

Since all details was updated, I had got the refund in 3 Days for all my MF’s (DSP, HDFC, Reliance and Fidelity)

Thanks and Regards

Shobha

Reply

54 Manish Chauhan September 16, 2011 at 10:33 am

Shobha

Thats good .. thanks for the info .. It will help others

Manish

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55 S S September 16, 2011 at 10:53 am

I invest via FundsIndia, its really userfriendly even the redemption process is very simple. Thankfully we don’t belong to the age where one was supoosed to visit banks or post offices otherwise most of the people I know I would not have invested at all! Many people are redeeming their units, however I’ve decided to stay on.

Reply

56 T S Ashok September 16, 2011 at 11:23 am

I am also using fundsindia. I feel very very easy to deal all kind of MFs. Especially, if i have money lying in bank and required for emergency, i normally choose liquid fund which has no entry & exit loads. buying and redemption is very easy through fundsindia. I recommend to many of my frineds…

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57 Anand September 19, 2011 at 3:15 pm

Can you please mention one or two liquid funds which have no entry and no exit load? One I know is fidelity cash fund, but I want to know similar funds from other fund houses.

Thanks.

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58 Manish Chauhan September 22, 2011 at 9:37 pm

Anand

No fund has entry load now , its banned by SEBI . Some funds might not have exit load .. not aware of them

Manish

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59 Madhu September 23, 2011 at 5:43 pm

@ Anand, None of the liquid funds have Exit Loads. Thats the reason we use them for STP’s. I think even the Ultra short term funds doesnot carry Exit loads. The Exit loads start from Short term funds but will be upto Max three months.

Before investing cross check on valueresarch or Morningstar

Reply

60 Manish Chauhan September 19, 2011 at 9:01 am

SS & TAshok

Thanks for putting your recommendation , i am sure many others would love to take desicion based on that

Manish

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61 bharat shah September 16, 2011 at 4:08 pm

i suggest to be careful to check your information of your folio /account with amc available on any account statement. i got twice the problem not getting my redeemed money to my account because the number of account was erroneous due to one more digit was induced in real no. (may be my mistake at time of filling the form, or by mistake of amc at time of encoding my details in the record) though the cancelled cheques were given at time of filling the form.

Reply

62 Manish Chauhan September 19, 2011 at 9:04 am

Bharat

Yea .. thats right , It might happen that while filling up the form one makes mistake in folio number , thats something one has to check 3 times :) .

Manish

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63 BHARAT SHAH September 19, 2011 at 11:00 am

@manish
and why they are asking cancelled copy of the cheque of the said account? the king can not do wrong!

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64 Manish Chauhan September 19, 2011 at 12:59 pm

Bharat

Its not cancelled copy of bank account which you used at the time of buying , its of another account if you need money in seperate account . Its just to make sure that fraud cases are minimized !

Manish

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65 Trishit Ray September 16, 2011 at 8:35 pm

Hello Manish,

Thanks for explaining the redemption process in simple language.I have just started with fundsindia.It is very convenient way of investing in mutual funds.For redemption and other purposes do you suggest me to get online facility of the AMC also?Why?

Regards,

Trishit Ray

Reply

66 Manish Chauhan September 19, 2011 at 9:10 am

Trishit

No , fundsindia would be enough .. Its an intermediary anyways .. no need to go for seperate account with AMC’s

Manish

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67 Tejaswi September 16, 2011 at 11:37 pm

Suppose you have 24K in your MF and you do a SWP of say 1000. At the of 23rd month say you have 350 Rs in MF based on NAV.
1. So will I get the 350 Rs on my last SWP or my SWP be rejected?
2. Once all the amount is re-deemed, should I submit a request to Stop SWP?
3. If there is no balance in MF, and SWP is NOT stopped…Will I be charged any penalty for NIL balance?

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68 Manish Chauhan September 17, 2011 at 5:19 pm

Tejaswi

1. Your SWP will not be rejected . It will go for the balance amount

2. No , you dont have to do anything .. when all the units are exhausted , it will stop on its own

3. No

Manish

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69 TaxSpanner September 17, 2011 at 1:15 pm

Investing online in mutual funds through a demat account is much better option than visiting different AMC offices. The cost of demat account is less than your conveyance cost for visiting the AMC office. Moreover, the transparency and convenience of purchasing/redeeming is great. You get the rating of the mutual fund, which helps you in choosing the best performing fund. You can anytime check the total value of all mutual funds. On redemption, the amount is credited within two days in most cases. Some online demat accounts offer capital gain tax computation as well. This helps a lot. In case you need funds for short term, taking loan against mutual fund units (instead of redemption) can help you save tax.

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70 dr kishan September 17, 2011 at 8:26 pm

Hi
this is a news to me. can you or manish please elaborate the process of taking loan against mutual fund units. which are agencies giving these types of loans.
This can be a good source of money for short times.
dr kishan

Reply

71 Manish Chauhan September 19, 2011 at 9:15 am

Dr Kishan

All banks would give you a secured loan on MUTUAL FUNDS , FD , PPF etc

Manish

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72 Manish Chauhan September 19, 2011 at 9:12 am

TaxSpanner

How can taking a loan against mutual funds will save tax for some one ? Or are you reffereing to the tax not paid on the redeemption amount ?

Manish

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73 Atul September 18, 2011 at 7:53 am

Hi Srikanth,

My wife has account with fundsindia and have been extremely satisfied with the services. My wife was previously investing via HDFC. All the existing MF holdings have been transferred to FundsIndia online except DSP ones. We have been following up with Fundsindia and have not got solution yet. Its more than 6 months now. DSP related holdings are still in offilne mode. Can you throw some light?

Regards

Atul

Reply

74 Srikanth September 18, 2011 at 9:04 am

Hello Atul,

Thanks for the kind words, and I will look into the DSP BR issue. If you can please, send me an email at srikanth@fundsindia, from your registered email id so I can track the issue.

thanks,

Srikanth

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75 chris September 18, 2011 at 9:14 pm

Hi Manish,

I want to know when can i redeem the ELSS (tax saving ) MF. is it 3 years from the date of purchase or 3 years from the end of the finanical year you purchased the ELSS MF ?

Regards,
Chris

Reply

76 Manish Chauhan September 19, 2011 at 9:11 am

Chris

Its 3 yr from the date of purchase :) . So exactly 36 months

Manish

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77 sandie September 19, 2011 at 7:11 pm

Hi Manish,

if in case i have started SIP for 3 years, then does this mean i can only redeem only after 3 years of last SIP date or i can right way go ahead and redeem once im done with last installment ?

Sandie

Reply

78 Manish Chauhan September 22, 2011 at 9:35 pm

Sandie

Its pretty simple , Each payment is locked from its own purchase date ,, so if I do a 1 year SIP in Oct 2007 , then I make first SIP payment in Oct 2007 , then Nov 2007 , then Dec 2007 , the first SIP made in Oct 2007 gets locked for 3 yrs from Oct 2007 which is Oct 2007 + 36 months = Oct 2010 (approx) , the next one is available on Nov 2010 … so on

Manish

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79 Trishit Ray September 20, 2011 at 9:42 am

Hello Manish,

There are few things about the redemption process that would be helpful if you throw some light on.

1.I have heard anything that is transacted in the stock market has a Securities Transaction Tax(STT). In the case of MFs the STT is paid by the AMCs and adjusted in calculating NAV.So the investor does not have to pay STT while redeming.Am I right?
2.There is exit load if one redeems before a certain period,generally 1 yr for open ended mfs.Now,the mf deducts the exit load and gives the investor the rest sum.Am I right?
3.Does the mf deducts the STCG(in case of redemption before 1 yr ) or the investor has to calculate it according to his tax slab in the IT return and pay to the IT dept?

I know these are quite elementary questions but your reply will help me and many like me.

Regards,

Trishit Ray

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80 Manish Chauhan September 22, 2011 at 7:28 pm

Trishit

AMC does not deduct the STCG or LTCG , anything else is deducted on AMC side

Manish

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81 Raghvendra September 20, 2011 at 2:26 pm

Dear ,
I have the Canara Robacco Tax sever Fund, But Fund house are not provided the online services, On the same way the AMC Karvy is also not provide the online services for the same Folio, Please suggest if having any option to online Redemption from the Canara Robacco .

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82 Manish Chauhan September 22, 2011 at 7:27 pm

Raghvendra

WHy dont you redeem it from their office itself

Manish

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83 hitesh chellani September 22, 2011 at 4:46 pm

Hi Manish

I want to invest maximum one thousand 1000INR per month on Mutual funds. I have not purchase MFs before. Can you brief me how, which and what type of MFs should i purchase?What is the rigth time to purchase.
Give me MFs which are SIP.

Regards
Hitesh

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84 Vaibhav September 23, 2011 at 1:53 pm

Create you portfolio online with a service provider like FundsIndia etc and the process of investment and redemption will be much more pain-less, especially if you are a busy professional .I say this from personal experience.
Sometimes they do goof up regarding the updation of online portfolio but overall the process is fine.

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85 Manish Chauhan September 24, 2011 at 9:27 pm

Vaibhav

Thanks for your feedback . It will help others

Manish

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86 Nitin October 8, 2011 at 11:10 pm

Hi Manish

Wanted to share with you a thought that I had….read Subra’s book and kept on thinking of making a retirement plan using debt instruments…

What are your thoughts on it?
http://mymoneyrules.blogspot.com/2011/10/debt-instruments-or-fd-use-as.html

I have also asked for Mr Subra’s comments and thoughts.

Would be grateful….if you could have a look

Thanks
Nitin

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87 Manish Chauhan October 10, 2011 at 11:40 am

Nitin

As a rule itself “Equity should be the investment vehicle for long term” . why do you want to use debt products for retirement ? You should be thnking about GROWTH and not preservatin of capitla at the moemnt

Manish

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88 Chandranshu October 11, 2011 at 11:47 am

Hi Manish,

I have few offline funds like HDFC Top 200 & HDFC Equity purchased from HDFC bank itself but personal banker never suggested me to keep same folio number. Can it be made same now? Recently HDFC personal bnker suggested me to open Mutual fund online account with them with quarterly charge of 100 INR. I have purchased few funds online but they have account no not the folio number..I am confused? Can I transfer my HDFC mutual funds to funds india?

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89 Manish Chauhan October 14, 2011 at 11:43 am

Chandrashu

Better you go with FundsIndia , they are free and provide a good enough platform .

Manish

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90 SANJAY LAHA March 4, 2012 at 5:05 pm

Is it mandatory to update address or KYC status before going for redemption of my MFs if the bank account(s) is duly registered? Please guide me.

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91 Manish Chauhan March 5, 2012 at 3:34 pm

Sanjay

No , if the bank account is same as at the time of buying the funds , then the money will come back in the same bank account .

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92 puneet arora April 4, 2012 at 10:17 am

i want to redeem SBI ELSS , however i have to change my bank account as i have closed my old account but when i went to AMC with my bank closure form they told me that i have to first fill up KYC form and for that i have to make some investment as they do not do kyc without investment.
I am not able to understand the logic why to make investment in order to withdrew money

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93 Manish Chauhan April 6, 2012 at 10:55 am

Puneet

In case you have closed your old bank account , there is a place in the withdrawal slip where you can mention the new bank account where you want the money to come , but then you will need to show them a cancelled bank account cheque . Better go to CAMS and find out what to do . I went to CAMS for my withdrawal and they had told me this procedure .. however in my case I had my old account active :)

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94 Vijay April 20, 2012 at 9:01 am

Manish,
You mentioned that if the old bank account is closed you can just submit a form with new bank account details including cancelled bank account cheque. Does AMC verify if the name on the folio matches with the name on the bank account check when redeeming funds ? If AMC is not doing this then any one with folio number can redeem our funds .Please clarify.

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95 Manish Chauhan April 20, 2012 at 9:09 am

Yes Vijay

Obviously .. they check all the neccessary things before redemption :)

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96 Praveen May 17, 2012 at 2:53 pm

Hi Manish,

I have a basic query with respect to redemption of units, if i redeem all of the units today, will my SIP continue or will it close?
Ex: i have 1000 units from every month SIP installment and i sell them of today, will my SIP continue, as it happens through ECS or will it close?

Thanks & regards,
Praveen

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97 Manish Chauhan May 18, 2012 at 9:22 am

It will continue

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98 Vivek Rawat May 30, 2012 at 3:06 pm

Hi manish

Nice article :)

I have one doubt or rather a question. does mutual fund allows partial withdrawal? like if i wish to withdraw 25%-50% of my units only?

Regards
Vivek

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99 Meghshyam Chaudhary July 17, 2012 at 2:17 pm

I have HDFC Gold Mutual Fund (SIP)
and the person from whom I bought is not in a condition to redeem it, so how can I sell my MFs.

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100 Manish Chauhan July 18, 2012 at 6:34 am

You can redeem your mutual funds on your own , look at this – http://www.jagoinvestor.com/2011/09/mutual-funds-redeemption-process.html

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101 VARINDER SINGH July 26, 2012 at 5:51 pm

iNFORMATION PROVIDED BY YOU IS VERY USEFUL.

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102 Manish Chauhan July 26, 2012 at 8:52 pm

Thanks Varinder !

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103 Akram August 13, 2012 at 11:27 am

Hi,

I have SBI magnum taxgain abnd trying to get the NEFT updation form for SBI MF.
I am unable to get one online,can you please help me.

Thanks
Akram

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104 Manish Chauhan August 14, 2012 at 4:12 pm

Akram

did you contact the company customer care ?

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105 pavan August 21, 2012 at 12:16 am

Hi Manish !

I have invested lumpsum in HDFC MF via icici direct a few years back. Last year i started SIP in same folio number but through karvy distributor.

Now i want to redeem earlier invested MF however not clear about the treatment of ongoing SIP since the lumpsum MF and SIP share the same folio number.

Please let me know.

Thanks

Pavan

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106 Manish Chauhan August 22, 2012 at 7:09 pm

If you sell the number of units which were there before 1 yr, then it will not attract tax , First come first out rule is applicable

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107 hema shetty August 23, 2012 at 1:41 pm

to redeem Mutual Fund Can we approch the registered bank mentioned in the form?

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108 Manish Chauhan August 26, 2012 at 1:05 pm

No , bank has no role in this , you have to contact AMC for that !

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109 Swapnil September 7, 2012 at 11:36 am

I had bought some Mutual Funds with my HDFC bank account no in 2007.
Since then HDFC has added 1 digit (0-prefix) to my bank account no.

How do I go about redeeming my MF? Do I need to request change of bank account number for all MF houses before redeeming? The problem is, I don’t have any cheques with old account number.
Calling HDFC customer care did not help much.

Any help would be greatly appreciated. Am sure all HDFC account holders are facing this issue.

Best Regards,
Swapnil

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110 Manish Chauhan September 8, 2012 at 9:27 pm

hmm.. Why dont you request for more cheques from the bank . ANd also raise this query on our forum and discuss – http://www.jagoinvestor.com/forum

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111 Swapnil September 8, 2012 at 11:32 pm

I meant cheques with old 13 digit account number. This is required as proof of old account.
The new cheques have 14 digit account numbers.

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112 Manish Chauhan September 10, 2012 at 9:25 am

So you have both cheque’s right ! .. old and new. cant you use both of them . What does customer care say about this issue !

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113 Savitaben M Vaghela September 10, 2012 at 12:06 pm

I have closed my old saving bank account, now old bank book was not available for me . i have open new bank account with other bank now I want redomption my units how

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114 Manish Chauhan September 10, 2012 at 1:23 pm

It will be a little longer now . You will have to enclose your new bank account cheque

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115 Lloyd September 30, 2012 at 12:08 am

What is the process to be followed to redeem 2 purchases which i made at different time intervals ? Do i need to calculate and add the units exactly for 2 transactions to be redeemed or add the amount of purchase of 2 transactions to redeem?Eg: 1st transaction – Amount 5000 purchase – 25.773 units
2nd transaction-Amount 8000 purchase – 40.609 units
Should i add the units or add both the amount to redeem both purchases?

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116 Manish Chauhan October 2, 2012 at 3:13 pm

You just have to mention how many units you want to redeem , thats all ..

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117 Bhaskar Karpurapu October 7, 2012 at 8:17 am

Hi,
I have opened an account for MF trading and i have purchased some mutual funds. In the MF statement, I see a line saying ‘ KYC to be compiled’. When I checked my pan number in cvl india website, it says ‘Invalid data’. But, I’m able to purchase MFs with my account. Can you please advise. I have applied my KYC and opened my MF account 1 mnth back. The bank people are not able to say if my KYC has been rejected.
Awaiting your reply

Thanks,
Bhaskar

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118 Manish Chauhan October 9, 2012 at 10:23 am

Seems like your Demat KYC is getting used , I think you should go for KYC else you wont be able to make large transactions

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119 Ajay Bali October 9, 2012 at 3:51 pm

Hi

Suppose i bought 100 units of a Mutual Fund in Jan , 2010 under tax saving scheme (ELSS) another 50 Units in Jan 2011 under same folio and scheme.

Now i want to redeem these units.

Please suggest how many units can i redeem in Jan 2013.

Can i redeem only 100 units or entire lot of 150?

Thanks
Ajay

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120 Manish Chauhan October 12, 2012 at 3:19 pm

You can only redeem 100 , each ELSS investment is locked for exactly 3 yrs

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121 prasenjit November 13, 2012 at 8:19 am

MANISH ,

PRESENTLY MY HDFCMF SIP CONTRIBUTION DEDUCTED THROUGH ECS FROM SBI BANK ACCOUNT BECUSE MY SBI BANK ACCOUNT IS REGISTERED WITH MY HDFCMF FOLIO . NOW I WISH TO REGISTER THE NEW SIP WITH AXIS BANK LTD. AND I HAVE REGISTERED ONLINE I-SIP IN HDFCMF WITH AXIS BANK LTD AND SAME UNIQUE REGISTRATION NO HAS BEEN REGISTERED WITH MY AXIS BANK SAVING ACCOUNT THROUGH NET BANKING FACILITY . WILL THE AMOUNT AUTOMATICALLY DEBITED FROM MY AXIS BANK ACCOUNT , BECAUSE I HAVE PREVIOUSLY REGISTERED WITH ABI NOW CHANGE TO AXIS BANK FOR NEW SIPS.

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122 Manish Chauhan November 15, 2012 at 7:46 pm

If you have mentioned the Axis bank details in your ECS mandate , then it will be debited from there !

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123 Vijay November 26, 2012 at 4:14 pm

Some of the content is incomplete/incorrect

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124 Ashwin Sinha November 26, 2012 at 9:27 pm

can i send the redemption form through courier to the cams centre

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125 Manish Chauhan November 30, 2012 at 1:51 pm

I m not sure on that . Please check the FAQ on cams website !

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126 Neeraj Vasudeva December 11, 2012 at 11:30 pm

Very nicely explained, keep it up.

Noida address on hsbc website was given incorrect, but on CAMS website it was given correct. I finally sent a feedback to HSBC website got a response from them that they have forwarded my concern to respective dept., but as of today, HSBC website still shows wrong address for Noida branch.

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127 Manish Chauhan December 19, 2012 at 4:57 pm

You just need to fill up CAMS form for withdrawal

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128 kasipathi December 26, 2012 at 3:56 pm

I had started SIP in Reliance Gold Savings Fund(G) from Nov 2011 from Sharekhan. Can I redeem the units alloted to me on 02-Nov-2011 for cash. I have started SIP of 1500 per month. 114 units were alloted on that day at the cost of 13.05 NAV. If I redeem now, how much can I expcet? Can I expect 114*14.308(todays’ NAV) = 1640/-. Or will there be any deductions.

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129 Kas Ben December 26, 2012 at 4:02 pm

I had started SIP in Reliance Mutual Fund for Gold(G) from Nov 2011 from Sharekhan. Can I redeem the units alloted to me on 02-Nov-2011 for cash. I have started SIP of 1500 per month. 114 units were alloted on that day at the cost of 13.05 NAV. If I redeem now, how much can I expcet? Can I expect 114*14.308(todays’ NAV) = 1640/-. Or will there be any deductions.

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130 Manish Chauhan December 29, 2012 at 8:48 pm

as 1 yr has passed, there should not be any exit loan ,you can expect 1640 now , note that the NAV will be the same of the day when you apply for redeemption

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131 Sowjanya January 25, 2013 at 10:57 pm

HI Manish,
I have 2 mutual funds, one from Sundaram Finance and one HDFC Tax saver. I want to redeem the same. The Redemption mode is “Direct Credit”, but my old bank account is now deactivated. What could be done in such case. Please guide.

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132 Manish Chauhan January 30, 2013 at 5:14 pm

This is common problem .. now you will have to carry the cancelled cheque along with the letter of bank manager also .. and fill up the new bank account info !

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133 Arun February 5, 2013 at 4:28 pm

Hi,
I have 2 ELSS which are nearing their 3 yrs lock in period by next month so can i redeem all the units next month or keep them and redeem them when the NAV get higher?

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134 Manish Chauhan February 6, 2013 at 10:26 am

You can redeem them if you are in need of money, else leave it .. also note that the ELSS units gets locked for each SIP …

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135 Arun February 6, 2013 at 2:28 pm

Thanks for the reply manish…… wat do u mean by locked ? is the NAV locked ? i started the sip on 2010 and its going to end mar 2013

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136 Manish Chauhan February 6, 2013 at 2:45 pm

Each month when you invest in ELSS, then that particular money is treated as new investment and will be locked for 36 months. So what you pay in jan 2010, will get locked for jan 2013 , same for feb , mar …

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137 Kruti February 6, 2013 at 9:42 am

Hi,

I have changed my name from Kruti Jain to Kruti BAdjatia and accordingly I have changed my Pan Card too. What would be the procedure for me.

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138 Manish Chauhan February 6, 2013 at 9:59 am

If your name in bank account is not yet changed , then there is no issue . Just follow the procedure given in this article .

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139 Rajeev February 14, 2013 at 3:47 am

Hi , very useful info. I recently redeemed my units on idfc premier equity , I did it online from their site over a weekend and got message that transaction will be actioned coming Monday which was 11th Feb. I can see that they have actioned the redemption request today is 13th but still do not have money in my account. How long does it take usually for direct credit. My account details are correct and it is active.

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140 Manish Chauhan February 18, 2013 at 2:06 pm

IN general it takes close to 3-5 working days !

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141 Govind krishnadas February 15, 2013 at 11:33 pm

I have invested in quite a few M/F. Few are good giving some returns. Many are bad as the NAV has plunged. So I wish to redeem the bad investments. Is there a method to find out how a particular M/F is doing? Many times when I ask for a quote on the website of BSE or other sites I get the reply -” no such fund exists. Can you suggest a way how to evaluate the funds I have and which fund needs to be redeemed from?

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142 Manish Chauhan February 18, 2013 at 1:27 pm

the first thing is on what time frame are you judging a mutual fund ? It should atleast be 1-2 yrs , not few months . Check what is the CAGR return it has delivered to you compared to its benchmark . better read this first – http://www.jagoinvestor.com/2012/05/mutual-funds-performance-vs-benchmark.html

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143 Govind krishnadas February 22, 2013 at 10:02 pm

Thanks for the info! I shall now go thru my investment and see if I have to stay put or shift them.

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144 Jasvinder March 13, 2013 at 5:25 pm

Hi

Want to understand how MF redemption works. Have bought SBI Magnum tax Gain growth scheme for 40000 through SIP of 5000 per month.
bought this in 2008. What will be the tentative value now

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145 Manish Chauhan March 19, 2013 at 12:40 pm

that you have to find out by multiplying your number of units with current NAV which you can get from internet

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146 AMARDEEP May 16, 2013 at 6:05 pm

I started a reliance sip in july 2010 for 2 years i.e. until july 2012, i still didn’t redempt my units…..now I have a axis trading account , in which I request for the transfer of those reliance sip units, which in my account showed “approved by RTA”…BUT still didn’t found those unit in my axis trading portfolio, nobody answers me abt dis! 111
can anybody knows how to redempt my sip unit frrom my axis trading account….

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147 SK May 24, 2013 at 9:07 pm

I have SBI Mutual fund for my two children. I am paying IRS 2000 each child and I started in 2011 August. S0 now the amount is going to be IRS 84000 in August. I want to redeem this mutual fund can you tell me how much will I get when I redeem. Thanks.

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148 Manish Chauhan May 25, 2013 at 3:30 pm

YOu will get full value

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149 Govind krishnadas May 27, 2013 at 8:36 pm

Thanks Mr. Manish for your reply to my querry. I need clarification on two more points and will be obliged if you can email me on those. Querry No.1
some of my investments contain my savings bank account with 5 digits only which was common done earlier. Now They say that we must write the current 14 digit number or else the amount will not be credited to my account. If that is the case then should I ask the Bank account to be changed to 14 digit number and only thereafter submit the redemp[tion form? Querry No 2! State bank of Saurashtra in which I had a savings account has now been taken over /converted to State bank of India. A few of my mutual fund investments done in 2005 still show the bank account numbers of State Bank of Saurashtra even though SBI has now changed the Account details with the same numbers of SBS. Will my redemption amount get credited in SBI or should I change the Bank acccount details with rthe concerned murtual funds?
Govind Krishna Das

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150 Manish Chauhan May 31, 2013 at 5:21 pm

1. Yes, you should ask them to convert it to 14 digits !

2. Yes it ideally go to SBI bank .

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151 Priya June 7, 2013 at 2:55 pm

Hi,
I have purchased 500 Rs Fidelity MF – L & T Tax Advantage – Growth Plan online in 2011. But still folio number is not updated. How can I redeem in this case. Since I have purchased online my account is deducted for 115 Rs quarterly.
Please help me out how can I find the folio number and how can I redeem the units

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152 Manish Chauhan June 8, 2013 at 10:49 am

From where did you buy ?

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153 PRABIR MAJUMDAR July 3, 2013 at 2:48 pm

I have taken a mutual fund of Sundaram BNP Paribas Equity Multiplier Fund-Growth plan on 27/02/2007 on my previous wife’s name i.e PURNIMA MAJUMDAR. In the year 2010 Jan we have got divorced.I am the nominee in that mutual fund.1st joint holder also my name is there.Mode of holding -anyone or survivor.Status-Individual.Bank details-Punjab National Bank,Nachan Road, Benachity,Durgapur-13.Now I want to get it redemption.My address is A/19 DURGESHWARI PARK, Tarsali, Baroda.To get the cheque on my name what I have to do? Please advice me.

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154 Manish Chauhan July 5, 2013 at 10:12 am

If its in the name of your wife, then only she can get it !

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155 PRABIR MAJUMDAR July 5, 2013 at 10:32 am

I am the 1st joint holder,nominee also my name is there,and I have got divorce certificate and affidavit or agreement on that she has given in written that she will not claim in future any compensation from me any obstacle on getting en cashed those mutual funds,share she will be responsible.After divorce how she can get the amount once I don’t have any legal relation.

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156 Manish Chauhan July 5, 2013 at 10:47 am

If its not in her name, then she can not get it . If yours is the 1st holder name, then you can withdraw the money /. What is the problem you are facing ?

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157 nilay July 8, 2013 at 12:57 pm

Hi Manish, Thanks indeed a good information.

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158 Manish Chauhan July 15, 2013 at 1:51 pm

Thansk !

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159 Vaibhav Saran August 6, 2013 at 3:29 pm

Redemption is easier in ICICI Pru. You can send a signed letter to the head office mentioning your Folio number, scheme where you invested.

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160 Manish Chauhan August 9, 2013 at 10:35 am

Thanks for sharing that :)

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161 Naveen Kulkarni August 14, 2013 at 8:51 pm

hi
first of all congratulation for the fabulous job of enlightening us about array of stuff.I have had held HDFC prudence mutual fund for over an year and when i recently redeemed units, some 14 odd units of the total 280 units were given a higher NAV and rest of were priced at NAV Rs 2/-per unit less.. i had placed redemption order before noon
i dont understand the disparity in pricing the units ,please help me out here
thanks

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162 Manish Chauhan August 21, 2013 at 2:21 pm

Can you open a thread on our forum to discuss this – http://www.jagoinvestor.com/forum/

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163 A B KHANDEKAR October 15, 2013 at 11:55 am

Thanks. Very neat and exact info.

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164 Manish Chauhan October 18, 2013 at 9:13 pm

Welcome

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165 M Madhava Reddy October 25, 2013 at 10:33 am

My son is an NRI and invested inIDFC MF thro SIP. Term of three years over. Now he is in overseas. How to redeem the units now as he intend to redeem due to increased stock market. Is it a must to visit the AMC office personally. Or he can send a form through courier . Can u guide me please.

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166 M Madhava Reddy October 25, 2013 at 4:34 pm

My son is an NRI and invested inIDFC MF thro SIP. Term of three years over. Now he is in overseas. How to redeem the units . Now he wants to redeem the units . Is it required to visit the AMC office personally or he can send a scanned copy of redemption form through mail or through courier. The amount to be credited his NRE account from where the SIP s we’re made . Your guidance silicated.

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167 Manish Chauhan October 26, 2013 at 9:17 am

Did he invest through NRE account only ? If not, then it might get tough to get the money redeemed into NRE account . He can send the normal redemption form

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168 M Madhava Reddy October 26, 2013 at 5:45 pm

He has invested through NRE account only. Hence he wants credit into that account only.

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169 Manish Chauhan November 4, 2013 at 11:50 am

Yes then it should be possible . but the procedure’s might be a bit stretched . enquire with the mutual funds company itself

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170 M Madhava Reddy November 4, 2013 at 7:14 pm

Thanks for information

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171 jahnavi December 24, 2013 at 8:36 am

That was a super lead … thanx a ton … got my work done in 3 days … and must add that the people at the CAMS centre are extremly efficient !!

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172 Manish Chauhan December 25, 2013 at 9:08 am

Welcome

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173 Rajesh N December 30, 2013 at 5:33 pm

Dear Manish,

I have invested in HDFC Tax saver mutual fund in April 2011 and lock in period is 3 years which is going to complete in 2014. Now, If ask the agent in Ventura, he informed that the total amount which was invested in 2011 can be taken only in 2015.

Could you Pl. give your feedback in this regard.

With best regards,
Rajesh N

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174 Anil Kumar G February 5, 2014 at 12:06 am

Hi Manish ,

I have invested some amount in some of different ELSS mutual funds on 2007 & 2008 but I have lost all my folio numbers … by any way shall I redeem or get folio numbers in which I have invested ?

Please help me.

Thanks in advance !

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175 Manish Chauhan February 14, 2014 at 8:30 pm

You can talk to those mutual funds and contact their customer cares on this ,they will help you get those folio numbers

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176 Anil Kumar February 15, 2014 at 11:25 am

Thanks a lot Manish !

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177 Liam April 5, 2014 at 11:53 pm

Hi,
I guess your intent was to say “I hope you are NOW clear on how to redeem mutual funds?” But I see that instead of NOW you typed NOT.
Your suggestion was indeed helpful…Many Thanks

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178 Manish Chauhan April 10, 2014 at 1:49 pm

ooops .. yes !

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179 Rina Bhattacharya April 17, 2014 at 5:06 pm

Hi, Manish,

I had purchased Capital Growth Unit Scheme -1992(Master Gain-92) in 1992 before marriage . At that my title was Chakraborty. But after marriage my present title is Bhattacharya. For redemption I submitted my present bank passbook (recorded as Chakraborty “Bhattacharya”) alongwith an affidavit of my marriage, Voter Id recorded as Bhattacharya, one cancelled cheque etc. Now after fifteen days I have been informed to submit my marriage certificate, it is necessary for this? Pl. reply how I can encash my certificate.

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180 Manish Chauhan April 21, 2014 at 1:44 pm

I guess yes, whats the proof that you are married . I think they will do all this due to the complication and so much time passed

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