Online Mode - You can redeem your mutual funds online by visiting the official website of Trust Mutual fund (www.trustmf.com). In case you had purchased the mutual fund units by visiting a third-party web portal, you may redeem it using the same portal.
Process to redeem – Under the service request section, you will have to choose financial transaction form.
To access your mutual fund, you will need to log in to the website with the help of your folio number and/or your Permanent Account Number (PAN) and password selected by you.
Next, you will have to choose your scheme and select the number of units or amount that you would like to redeem.
You will then have to confirm your transaction.
Apart from redeeming your mutual funds online through Trust Mutual Fund website or other 3rd party web portal, you may also redeem via central service providers such as KFin Technologies – Registrar & Transfer Agent to the scheme.
Offline mode –
If you want to redeem your mutual funds through offline mode, go to Trust Mutual Fund website <Downloads<Forms<Service Request form to fill the Transaction form and fill details such the unit holder’s name, name of mutual fund scheme, folio number, number of units to be redeemed or amount to be redeemed from the scheme, plan details, etc. Once the form is filled, you will have to sign it and submit it to the designated office of the Registrar or any official point of service of the asset management company (AMC). The funds resulting from your redemption will be transferred to the unitholder’s registered bank account.
The funds relating to redemption of units depends on various factors:
NAV that is applicable on your fund units, which refers to the NAV fixed for the day and time when you apply for a redemption. As the Net Asset Value (NAV) for each day is announced post closing of the day, the time of the day when you request for redemption is crucial. However, the NAV of the day is applicable only for redemption requests that come by 3pm on a business day, or else the next day’s NAV is applicable.
Bank Accounts – You must keep your bank account that is linked and registered with your AMC, active. When you redeem your mutual funds, the proceeds of the fund are sent to your bank account registered with the AMC. In case that account is inactive, you may be required to submit a cancelled cheque of your new bank account or passbook or you might also have to present a declaration from the bank with the signature of your bank manager.
Turnaround Time – Generally the fund house would endeavor to adhere to the below mentioned timelines.
In case of equity or balanced funds, the redemption proceeds are credited on the 3rd business day from the day from the day of redemption. In case of debt or liquid funds, the redemption proceeds are credited by 1st business day from the date of redemption. This is subject to the condition that the redemption request is valid in all aspects i.e. scheme name / plan / option, unit or amount balance, signature match with the records at AMC’s end.
Funds with Lock-in Period – Open ended schemes can be redeemed at any point of time, whereas some schemes like ELSS (Equity Linked Savings Scheme) cannot be redeemed up to three years from the investment date.
Charges on Redemption – Redeeming your funds might attract certain charges such as exit loads and taxes. The amount charged depends on the duration after which you have requested for redemption of funds. It is advisable to know about the charges before making the decision of redeeming your funds. You may approach your financial advisor for advice before planning to exit the fund.
For information, GST @ of 18% is applicable for all financial services effective July 1, 2017.