Can we redeem ELSS mutual funds anytime?
The simple answer to this question is No. ELSS investments do not provide the option to withdraw the investment amount before the end of the 3-year lock-in period.
Can I withdraw my mutual fund anytime?
The majority of mutual funds are liquid investments, which means they can be withdrawn at any time.
Can I withdraw money anytime from mutual fund?
An investment in an open end scheme can be redeemed at any time. Unless it is an investment in an Equity Linked Savings Scheme (ELSS), wherein there is a lock-in of 3 years from date of investment, there are no restrictions on investment redemption.
Can I withdraw partial amount from mutual fund?
Partial withdrawal Under this type, you withdraw money from mutual funds partially. This means that you redeem a part of the investment while the remainder remains invested.
Can I withdraw money from ELSS before the end of maturity?
The amount cannot be withdrawn before the end of the lock-in period. However, ELSS is definitely beneficial as compared to other tax-saving instruments, as the lock-in period is just 3 years compared to the maturity period of NSC (6 years) and PPF (15 years) respectively.
Can ELSS be withdrawn before the end of the lock-in period?
Gynanesh: No. The amount cannot be withdrawn before the end of the lock-in period. However, ELSS is definitely beneficial as compared to other tax-saving instruments, as the lock-in period is just 3 years compared to the maturity period of NSC (6 years) and PPF (15 years) respectively.
When can I redeem my investment in ELSS?
For your investment, let us assume you received 1000 units. According to the ELSS lock-in period of 3 years, you cannot redeem your units upto three years, i.e. until 1st December 2023. You can redeem all of your units or withdraw your investment only after 1st December 2023.
What is the lock-in period of ELSS mutual fund?
ELSS which stands for Equity linked saving scheme has a lock-in period of 3 years; therefore you will be able to withdraw (Partially or entire amount ) from the Mutual fund scheme after the completion of three years only. So, if you have invested in ELSS Mutual fund as a Lump Sum]