Redeeming ELSS sips - Q & A Forum

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MP asked 8 years ago

Hi Sreekanth, I started monthly SIP's in ELSS from May 2017 to March 2018. I am aware that now the earliest I can withdraw the amount invested in May 2017 is May 2020. But if I plan to stay invested and redeem it only after 10 years, can I withdraw all the 11 SIP's that i had put from May 2017 to March 2018 in one go or even at that time I can withdraw the May 2017 SIP only in May 2027 and March 2018 in March 2028? Thanks in advance Regards Mamta

2 Answers

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Sreekanth Staff answered 8 years ago

Dear Mamta, Kindly note that the units that are allotted under each SIP have a lock-in period of 3 years. Your last SIP which is in say March 2018, can be withdrawn at the earliest in March 2021.

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Sreekanth Staff answered 8 years ago

Dear Mamta, I have noticed that you have posted one more query (as below) in some other's thread. "Hi Sreekanth, I have invested in the growth option of a fund through an agent/broker. I want to switch to direct in the same scheme without him knowing. Is there a way to do that? If not, are there any implications if I discontinue the SIP and start again in the same fund through direct. Will I lose out on the compounding effect? Thanks in advance
Mamta" My reply: The moment the SIPs stop, the adivor/agent may come to know about it, in case he tracks the SIPs of his clients. Kindly read : https://www.relakhs.com/switching-direct-mutual-funds-tips/