Instant Redemption is a facility wherein an investor can place a redemption order at any time and receive money instantly (within 30 min) into their registered bank account.
This facility is offered by select Fund Houses for their Liquid Schemes. View the list of schemes with the Instant Redemption option on the Explore Funds > Insta redeem tab. [https://app.kuvera.in/explore/insta-redeem]
Important:
- MAX Rs 50000: The Maximum Amount that can be withdrawn using the Instant Redemption facility is Rs 50,000 or 90% of holdings whichever is lower.
- MIN Rs 500: The Minimum Amount that can be withdrawn varies from scheme to scheme and usually Rs 500.
- The Funds Transfer is processed directly by the Fund House into the investors’ registered bank account using the IMPS mode of payment.
- The Rs 50,000 limit is applicable on a per day basis and the 90% holding limit is applicable for all Instant Redemption orders placed between two business days.
- If there is any technical issue during the Funds Transfer such as a bank or IMPS gateway downtime, network error, name mismatch etc then Redemption will be processed as a Normal Redemption order.
- The fund house will club multiple Instant Redemption requests and only those orders within the instant redemption limits will be processed as Instant Redemption.
- To process an Instant Redemption, the fund house may mark lien on the units such the value of units being redeemed is 90% of the units under lien. This is an intermediate process and the lien is removed on the next business day.
- Instant Redemption facility is only enabled for Resident Investors.
|mutual_fund|mf0046|21112020
