How to Switch and Redeem Mutual Funds?

How to Redeem Mutual Funds Units?

There can be 2 ways to redeem mutual funds units:

Redemption through the Mutual Fund Offices or Point of Acceptance (Offline)

You need to perform following steps-

  • Step 1 : You need to send a duly signed redemption request to the Mutual Fund or the Point of Acceptance like the registrarís office.
  • Step 2 : The proceeds from the redemption will directly be credited to the registered bank account in a couple of days.

Online redemption

You need to perform following steps-

  • Step 1 : Go to the online portal/ website of the mutual fund.
  • Step 2 : Log in to your registered account and select redemption option.
  • Step 3 : Select the fund and the number of units / amount you want to redeem.
  • Step 4 : Confirm your transaction.
  • Step 5 : The proceeds from the redemption will directly be credited to the registered bank account in a couple of days.

How to switch your investments from one scheme to another?

There can be 2 ways to switch mutual funds units

Switch through the Mutual Fund Offices or Point of Acceptance (Offline)

You need to perform following steps-

  • Step 1 : You need to send a duly signed switch request the Mutual Fund or the Point of Acceptance like the registrarís office.
  • Step 2 : Mentioning of names and plans of both the schemes is to be carefully done.
  • Step 3 : Your switch request will be processed and then you will receive the statement of account on your email or in physical format in a couple of days usually 2 to 4 working days.

Online switch

You need to perform following steps-

  • Step 1 : Go to the online portal/ website of the mutual fund.
  • Step 2 : Log in to your registered account and select switch option.
  • Step 3 : Select the scheme, plan and the number of units / amount you want to switch from and then select name and plan of the scheme in which you want to switch the units / amount.
  • Step 4 : Confirm your transaction.
  • Step 5 : Your switch request will be processed and then you will receive the statement of account on your email or in physical format in a couple of days usually 2 to 4 working days.

Upcoming Bank Holidays

2017 February 24 is a bank holiday in Chandigarh due to Mahashivratri.
2017 February 27 is a bank holiday in Sikkim due to Losar.
2017 March 03 is a bank holiday in Mizoram due to Chapchar Kut.
2017 March 12 is a bank holiday in Jammu And Kashmir due to Holi (Jammu Province Only).

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