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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.
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:
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.
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