You need to fill a transaction slip, which you can download from mutual fund website or detach from the end of your account statement. The Application can be submitted at mutual fund office or registrar office (Cams or Karvy)
The process is actually very simple. It depends on whether you have bought the mutual fund from an agent or purchased it online.
If you have invested in a mutual fund through an agent, or directly through an mutual fund, you need to visit the mutual fund office or or registrar and fill a redemption form.
If you have online access to your mutual fund investment, login to your online account and you will find the option. Follow the steps and complete the process.
Now with RTGS and NEFT option redemption proceeds are directly credited to the investor’s bank account, so in order to get funds directly in your bank account, update your MICR & IFSC Code (11 digit code).
Prerequisite to get paid in your bank account
- Bank Name and Complete Branch Address with pin-code should be provided.
- Update Core Banking Account Number.
- Provide IFSC Code (It is the11 digit alphanumeric code printed on the cheque leaf, near branch address. Alternatively, you may check the same with your bank branch) &
- MICR code (It is the 9 digit code that appears next to cheque number)