September 29, 2010 7:59 pm
i have invested in sip on monthly basis and now after three years my locking period is over, so if i want to withdraw my money. how much amount i can get, the invested and some interest also.
I have invested in sip since 9 months.
If I need to withdraw,how can I apply ?
It would be better if u can inform the name of MF in which u have completed 3yrs.
If the performance of fund is good then I would suggest to continue with SIP for next 4-5 yrs if u dont require the amount right now.
Regarding withdrawl I agree with MoneySavingsHelp
From ur question I assume that we r discussing Tax saver plans.These plans offer full redemption of fund value after lock in period is over.The value of the fund will depend on NAV which again depends upon market conditions. Right now sensex has breached 20,000 level and the rally is expected to continue for a short while.However long term view is bullish for the next 2-3 yrs. So if u dont need money now , this amount can be invested in very good equity balanced fund or if u can take more risk part of the money can be invested in midcap small cap fund. This way u will be able to get more returns. If u want assured returns then u could go for old trusted bank fd for a short duration as there is a possibility of revision of interest rate in future.
You must understand the rule of lock-in period & withdrawal amount rule.
If I invest Rs.1000 on Jan 1, 2007, its lock-in period will end on Jan 1, 2010
Rs.1000 invested on Feb 1, 2007, its lock-in period will end on Feb 1, 2010
Rs.1000 invested on Mar 1, 2007, its lock-in period will end on Mar 1, 2010
and so on….
So, the complete lock-in period of your total amount will get completed from the 3 years of your last SIP.
Also, if you’d taken dividend-reinvest option, the lock-in period of dividend amount will start from the date of investing of dividend.
All the companies follow the rules of FIFO (First in, First out) rule while taking redemption requests.
Hope it will help you.
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