Many liquid and overnight mutual fund schemes give back your money within a few seconds, if they offer the Instant Access Facility or Instant Redemption facility. This helps if you need urgent cash and it’s a weekend or a public holiday. This facility is only available with liquid and overnight mutual fund schemes, as per SEBI rules
January 18, 2024 / 10:25 AM IST
A normal redemption in a liquid or an overnight fund also takes about a day, or two days maximum, to generate cash
In December, PPFAS Mutual Fund, India’s 18th largest fund house, with assets worth Rs 57,000 crore, launched the ‘Instant Access Facility’ in its liquid fund, Parag Parikh Liquid Fund. This facility ensures that investors will get money in their bank accounts within a few seconds of applying for redemption. But Parag Parikh Liquid Fund is nothing new; around 11 fund houses already offer this facility. Aditya Birla SunLife, DSP, HDFC, Franklin Templeton and Nippon India are some
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