I want to redeem my mutual funds using the HDFC Mobile Banking app, but I’m not sure where the redemption option is. How do I redeem my mutual funds in the app?
I recently had to redeem some mutual funds through the HDFC Mobile Banking app and found it to be simple. Here’s a step-by-step guide to help you redeem your mutual funds via the HDFC Mobile Banking app:
How to Redeem Mutual Funds via HDFC Mobile Banking App
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Log In to HDFC Mobile Banking: Open the HDFC Mobile Banking app and log in using your credentials.
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Navigate to the Mutual Fund Section:
- Once logged in, go to the “Invest” or “Investments” section.
- Select “Mutual Funds” from the available options.
- Choose Redemption Option:
- In the Mutual Funds section, look for the “Redeem” or “Redemption” option.
- Click on it to proceed with the redemption process.
- Select the Fund and Units:
- Choose the mutual fund from which you want to redeem units.
- You can opt for partial redemption by specifying the number of units or the amount you want to redeem, or you can choose to redeem the entire investment.
- Confirm Redemption:
- Review the details of your redemption request, including the NAV (Net Asset Value) applicable for the redemption.
- Confirm the redemption request. You may need to enter an OTP (One-Time Password) sent to your registered mobile number for authentication.
- Redemption Processing: Once confirmed, the redemption request will be processed. The redemption amount will be credited to your linked bank account within 1-4 working days, depending on the type of fund.
Key Points to Remember
| Feature | Description |
|---|---|
| Redemption Types | Unit-based, Amount-based, Full Redemption |
| Processing Time | Liquid funds: 1-2 working days, Debt funds: 2-3 days, Equity funds: 3-4 days |
| Applicable Charges | Exit load may apply if redeemed before the minimum holding period |
| Taxes | Capital gains tax applies based on the holding period |