There are some scenarios listed below where an Instant Redemption may get processed as a Normal Redemption. In this case, funds will be credited to your registered bank account as per normal redemption timelines instead of instantly (within 30 minutes).
Common reasons why an Instant Redemption order may get processed as a Normal Redemption Order.
- Instant Redemption order is outside the scheme specific limits. See below.
- Multiple Instant Redemption orders queued such that the total amount being redeemed exceeds scheme specific limits. 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.
- Technical issue during processing of the Funds Transfer such as a bank or IMPS gateway downtime or a network error
- Mismatch in the Bank Details such as Name Mismatch, Resident Status mismatch etc
The following limits apply to Instant Redemption requests
- MAX Rs 50000: The Maximum Amount that can be withdrawn using the Instant Redemption facility is Rs 50,000 or 90% of holdings whichever is lower.
- MIN Rs 500: The Minimum Amount that can be withdrawn varies from scheme to scheme and usually Rs 500.
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