Wednesday, September 15, 2010

How to redeeem Mutual Funds in India

Everyone of us, at some point of time, has invested some money in different Mutual Fund schemes. Some schemes have a maturity period if they are done for Tax saving purpose. If you want to get a consolidated statement of your Mutual Fund investments, you can fill up the online form at CAMS. If you want to also get statement of FTamil and Karvy funds you can use this form instead. Karvy also offers such a service and can be accessed here.

For redeeming funds managed by CAMS, you need to fill up the Redemption Form and has to be submitted to the nearest Service Center. Other transaction documents can be found here.
For funds managed by FTamil, you can find the forms here.

If you want the money to be credited in a different bank account, please attach a canceled cheque of the bank where you want to get the credit to be done. Photocopy of PAN, Identity proof, Copy of Folio statement are not required, however its better to confirm before visiting the office.

It is also a good idea to hold the funds in Dematerialized form. Many Depositary participants are offering this facility.