Redeem non tax saver mutual fund before 3 years (SIP)
Discuss Redeem non tax saver mutual fund before 3 years (SIP) at the Mutual Funds Discussion Forum within the Traderji.com - Discussion forum for Stocks Commodities & Forex; hi,
i invested in JM contra mutual fund for 2 years through a monthly SIP.
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i need money right now. this is not a tax saver fund. could any body please give me an idea if i can redeem this fund after paying some exit load. i am a nowise and i dont know how to do it. SIPs usually have a 3 year locking period. does it applies to non tax saver funds as well? friends .. please reply ASAP. thanks in advance.
i need money right now. this is not a tax saver fund. could any body please give me an idea if i can redeem this fund after paying some exit load. i am a nowise and i dont know how to do it. SIPs usually have a 3 year locking period. does it applies to non tax saver funds as well? friends .. please reply ASAP. thanks in advance.
Have you talked to the folks at AMC (JM) ? With its performance and history, I would have taken the money out even at expense of a one % load and invested in better fund. I don't think its locking period, unlike taxsavers - they would just charge you exit load.
Re: Redeem non tax saver mutual fund before 3 years (SIP)
You can redeem ur funds any time. You have to pay tax on short term capital gains for those portion which r less than one year. In addition u may have to pay some exit load for that portion which is less than one year, which is negligible.
Go ahead and redeem it.
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31st January 2010, 10:20 PM
Redeem non tax saver mutual fund before 3 years (SIP)
