Individual can buy and sell mutual funds online as well as offline. At some point if an investor wants to redeem the mutual funds unit he can do so and method will depend on the mode of purchase.
Before selling any of the mutual fund units one should do thorough research, understand the exit load if it is applicable and tax aspect.
Things to know for redeeming mutual fund units.
- Name of the fund
- The folio number
- Scheme details
- Number of units you wish to redeem
Here is the procedure to redeem or sell offline
Asset management Company(AMC)
If an investor has bought the units from Asset management Company(AMC) directly, one can fill the redemption form from the AMC's office and submit with details.
From Brokers or Agents
The procedure is same, you will have fill the redemption form with all the necessary details and submit the same to the agent or broker.
CAMS (Computer Age Management Services)
Investor can also visit the nearest CAMS office and fill up the mutual fund redemption form and submit the same.
Procedure to redeem or sell online
Mutual funds which are purchased online can be redeemed through online through a trading account or AMC website, if your are registered.
Mutual funds which purchased through fund houses, the units can be redeemed within few clicks. One needs to login to the account and select the scheme to be redeemed.
If you wish to redeem number of mutual fund units, you can consider CAMS website as it will allow to redeem more than one mutual fund in a single place. However, it does not allow all Mutual Fund redemption requests. Make sure you check with them on mutual funds they handle.