Most of us invest in mutual funds today and
the odd question pertaining redemption of these mutual funds does crop up
frequently. The procedure to claim these mutual funds is always not clear and
does need a bit of research. If you have purchased the fund from an offline
source or an AMC, you would have to go the company office and get the
redemption form filled out. This would be available at branches of the
insurance company and has to be done offline only.
It is possible to get multiple mutual fund redemptions at once too, so
a good idea would be to save multiple trips and make it at one go. It is
convenient and easy to fill. Here are the list of information points you need
- - Name
- - Folio number (this is to extremely important to get right)
- - Volume of units
- - Unites to be redeemed
Once this is submitted to the executive at
the office, it would be sent for processing. You would have to submit the bank
details for transfer of funds too. You can use the same account that was used
at the time of buying for a quicker transaction. The transfer of mutual fund dividend is quite quick to
say the least; you can get the amount transferred into your bank within 2-3
working days.
The redemption transaction slip is used to
make a redemption claim and is available online too; so make a quick print and
fill out your details before you go to claim your dividends.
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