I wish to redeem my mutual fund investments. How many days before the money will be credited to my account?
Divyaratan Kundu, Cuttack
Investments in mutual funds are liquid and the process of redemption can be initiated anytime. There are fund schemes in which redemptions initiated before 3PM on a week day are debited by noon the next day, except over weekends and banking holidays. In case of equity mutual funds, it takes three business days for the redemption proceeds, for a safer time frame, assume five days. To ensure that there are no other roadblocks, ensure that your bank account details are updated with the fund house and the scheme from which you wish to redeem. If possible do check the scheme information document of the fund to ensure that the AMC supports the bank where you have your account for electronic fund transfer, which is the fastest way the money can be routed to your account.
