Instant Redemption is a facility which allows you to place a redemption request in the specified scheme and have the amount credited into your registered bank account using the IMPS facility.
The Instant Redemption facility is only available in the HDFC Liquid scheme – Growth option. If you have invested in this scheme, you will be allowed to place an Instant Redemption request.
a) This facility is available only for Resident Individuals
b) The investor should have the complete CBS (Core Banking System) account number registered in the folio along with IFSC code
c) The Investor’s bank should be Immediate payment service (IMPS) enabled.
d) No Change of Bank request has been placed in the folio for the past 7 days
The Instant Redemption can be placed through our HDFCMFOnline portal from any place, at any time as per your convenience.
No. A physical request cannot be placed for Instant Redemption.
The maximum per day amount would be Rs 50,000 or 90% of the valuation (clear units only) held by the investor at a PAN level, whichever is lower. The minimum amount is Rs 5000/-
This limit would get reset at 12.00 AM each day.
The Instant Redemption facility only allows you to place an amount based redemption. Placing a Units based redemption request is not allowed.
If the Instant Redemption request is received up to 3.00 pm, the NAV would be the lower of:
a) The NAV of the previous calendar day or
b) The NAV of calendar day on which Instant Redemption request is received.
If the Instant Redemption request is received after 3.00 pm, the NAV would be the lower of:
a) The NAV of calendar day on which such application is received, or
b) The NAV of the next calendar day.
No. This facility is offered free of charge to our investors.
Cancellation of an Instant Redemption is not possible since the payout for this happens near instantaneously.