How to Redeem Mutual Fund units?
You can redeem the Mutual Fund units, through below mentioned processes.
1. For POA enabled accounts the Mutual Fund is purchased in online mode.Login via MF website - Dashboard - Holdings - Portfolio - Click on the drop down of the Mutual Fund Scheme to redeem - Click on Redeem.
2. For non POA accounts the Mutual Fund is purchased in online mode for Client Login.
a) For CDSL demat account:Login via MF website -Dashboard - Holdings - Portfolio- Click on the drop down of the Mutual Fund Scheme to redeem - Click on Redeem - Intimation would be displayed with an option to authorize transactions through TPIN - You can proceed with TPIN authorization option. You can also generate TPIN, if required by clicking on the option provided - On successful authorization, you can proceed with the redemption process.
b) For NSDL demat account: You have to update POA and follow the below process.Login via MF website - Dashboard - Holdings - Portfolio - Click on the drop down of the Mutual Fund Scheme to redeem - Click on Redeem.
3. If the units are held in your demat account, which are not purchased from IIFL portal.You need to download Mutual Fund redemption form, from TTweb.indiainfoline.com (Link: http://content.indiainfoline.com/IIFLTT/DownloadFormFormats/downloads/MF_Repurchase_Redemption_Form_CDSL.pdf) and submit the filled and signed redemption form at your nearest IIFL branch or you can send the same to below mentioned address.
Mutual Fund Team701, Akruti Centre Point, Central Road, Marol MIDC, Andheri (East), Mumbai-400093 Maharashtra. If you have the Mutual fund units in Physical form.You have to contact respective Mutual Fund RTA, for redemption.