Can we switch from one ELSS fund to another?

Can we switch from one ELSS fund to another?

In Equity Linked Savings Scheme (ELSS), each Systematic Investment Plan (SIP) instalment has a mandatory lock in period of three years. In this lock in period you do not have the option to exit or switch from one fund to another.

Can we switch regular fund to direct fund?

Visit the transaction page, where you can buy, change, or redeem your fund units. Select the ‘switch’ option and then click on the respective fund name. It will have a ‘Direct Plan’ option; click on it and follow the steps displayed. It will take about four working days to reflect the change.

Can I switch from one mutual fund to another?

Investors switch their investment from one open ended scheme to another within the same fund house for better financial planning. To switch within the same fund house, fill up a switch form specifying the amount/no. You must fulfill the minimum investment amount criteria for both switch-in and switch-out schemes.

Can I switch ELSS from regular to direct?

ELSS mutual funds have a mandatory lock-in period of 3 years. You can switch from the regular plan of an ELSS mutual fund to the direct plan after the lock-in period of 3 years. This means that switches and redemptions are not permitted before 3 years.

What is the difference between regular and direct mutual fund?

The only difference between these two is, in case of a regular fund your mutual fund house pays a commission to the broker/agent as a distribution fee whereas, in case of a direct plan, no such fees/commission is paid.

How do you know if a mutual fund is direct or regular?

A Direct plan is what you buy directly from the mutual fund company (usually from their own website). Whereas a Regular plan is what you buy through an advisor, broker, or distributor (intermediary). In a regular plan, the mutual fund company pays a commission to the intermediary.

Can I change my SIP amount in ELSS?

You will not be able to update your SIP/ STP or SWP amount directly. If you want to increase your SIP/STP or SWP amount, you can start a new SIP/STP or SWP for the additional amount. So if you already have a SIP running for Rs. 1000 and you want to increase your investment to Rs.