Instant Redemption is a facility where in an investor can place a redemption order at any time and receive money instantly (within 30 min) into their registered bank account.
This facility is offered by select Fund Houses for their Liquid Schemes. You can find such funds in "All Funds" under "Insta Redeem" tab.
Important:
MAX Rs 50000:- The Maximum Amount that can be withdrawn using the Instant Redemption facility is Rs 50,000 or 90% of holdings whichever is lower.
MIN Rs 500: The Minimum Amount that can be withdrawn varies from scheme to scheme and usually Rs 500.
If there is any technical issue during the Funds Transfer such as a bank or IMPS gateway downtime, network error then Redemption will be processed as a Normal Redemption order.
To process an Instant Redemption, the fund house may mark lien on the units such that the value of units being redeemed is 90% of the units under lien. This is an intermediate process and the lien is removed on the next business day.
Instant Redemption facility is only enabled for Resident Investors.