View Full Version : Need help in Redeeming mutual funds

16-04-2009, 10:35 AM
I had purchased two mutual funds, one HDFC and one HSBC around 2 years back thru one agent. Now that I have moved to Gurgaon and also I have lost track of both of them because I did not updated my new address in MF record. I do have the redemption slips that I received when I have invested in the funds two years back.
Kindly let me know the process of redeeming my mutual funds.

19-04-2009, 05:04 PM
Varun both your funds provide ECS facillity which means amount will be directly creditted to your Bank A/C . So there is no hassel fill the form for redemption and you will get it.

Please check :
1- Whether both these funds give you ECS facillity or not .
2- Whether your bank is competent enough to receive ECS transfer from these banks.

If you are in Big Cities than most of the bank provide ECS facility.

Second option : Approach your agent with whom you have purchased these funds, he will help you out or do it for you .

Third Option : Redemption slip also has a column for adress change/bank mandate change, first fill the form with new adress & send it across and wait for updated SOA and once received you can easily go for redemption vide your new correct adress SOA [Statement of A/C] .

Hope I have made it clear. :cool:

11-09-2009, 07:18 AM
Invest online. This is the best method, you don't have to pay any load or charges and can cancel it anytime. I am using this for Birla Sun Life's iSIP Plan. In it you can buy or redeem online. I am not aware about other fund houses but there will be something like this, ask them.

11-09-2009, 07:59 AM
HDFC MF is one steps ahead of all the AMCs. They have introduce HDFCMFMobile - Now buy and redeem thought your mobile. Check there website for more info - Link (http://www.hdfcfund.com/InvestorCorner/ContentDisplay.aspx?ReportID=072DC16D-3C8D-4AF6-B925-EF1DDA0266B0)