Instant Redemption
What is Instant Redemption?
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.
Under which scheme is this facility available?
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.
What are the prerequisites required for placing a successful 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
From where and when can the Instant Redemption request be placed?
The Instant Redemption can be placed through our HDFCMFOnline portal from any place, at any time as per your convenience.
Can I place a Physical request for Instant Redemption?
No. A physical request cannot be placed for Instant Redemption.
What are the maximum and minimum amounts for which an Instant Redemption request can be placed?
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/-
When would this limit get reset each day?
This limit would get reset at 12.00 AM each day.
Can a Units based redemption request be placed?
The Instant Redemption facility only allows you to place an amount based redemption. Placing a Units based redemption request is not allowed.
How would the NAV be applied to these Instant redemption requests?
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.
Are there any charges for the use of this facility?
No. This facility is offered free of charge to our investors.
Can an Instant Redemption request once placed, be cancelled?
Cancellation of an Instant Redemption is not possible since the payout for this happens near instantaneously.