Lock in period for funds in SIP

[Raj]

Hi,

I have a query,
If I am going for SIP of an open ended scheme when can I sell my units. Example if I opt for Rs. 1000 SIP for 6 months and get 50 units in the first month can I sell them before 6 month period?
Does this depend on min investment for the particular fund?

[Master]

You may sell them within 6 months. If you invest in open ended equity diversified fund (except Tax Saving fund) you may sell the units anytime.But you have to pay exit load which is 2.5%.
But remember that if you sell within an years time of purchase of units then you will have to pay Short Term Capital Gains Tax @ 10 %. Also remember that Equity funds should be held for long period that for over 5 yrs time if you want to create wealth.

[Natraj]

You can sell them anytime, you have to pay exit load of 2.5% (depending on the fund and the amount invested), if you exit before six months.