Hi,
I started Axis Long Term Equity Fund (Growth) SIP (ELSS) on 15th every month from May 2014 for Rs.1,000/- every month.
I want to know the following:
1. When can i make the first redemption? (With no extra charges/penalties to pay for redemption)
2. How much can i redeem in first redemption?
3. A friend told me your first SIP of May 2014 will be eligible for withdrawal on April 2017. Is it correct? That too i can redeem worth 1,000 only?
4. Also i can every month redeem worth 1,000 starting from April 2017? Correct?
5. What should i do if i want to redeem the whole investment of 3 years (2014-17) together?
6. If the answer to Q6 is 2020 then what happens to the investment due in 2017 does it get reinvested till 2020?
7. What are the options if i want to stay invested in 2017 onwards and also in 2020 onwards?
Please help.
Thanks.