How to withdraw amount Invested in ELSS via SIP after 3 years ?
Hi there,
A lot of people misunderstand how ELSS lock in works, a little credit for this may even go to the advisor (if any) who mis- sells this( not all cases).
Assume you had started this SIP on 05/01/2015 as in the table below, you get units allotted to you at a certain NAV, these units will be in a lock in for the next three years and become redeemable on 05/01/2018, the units allotted the next month will be redeemable a month later.
Lindo’s Taxsaver Mutual fund | |||||
---|---|---|---|---|---|
Date of SIP | Amount invested( in Rs.) | NAV(in Rs.) | Units allotted | Total units (accumulated) | Redeemable units(which have completed 3 years of lock in) |
05-01-2015 | 3000 | 121 | 24.7934 | 0 | 0 |
05-02-2015 | 3000 | 118 | 25.4237 | 25.4237 | 0 |
05-03-2015 | 3000 | 120 | 25.0000 | 50.4237 | 0 |
05-04-2015 | 3000 | 124 | 24.1935 | 74.6173 | 0 |
05-05-2015 | 3000 | 126 | 23.8095 | 98.4268 | 0 |
05-06-2015 | 3000 | 124 | 24.1935 | 122.6203 | 0 |
05-07-2015 | 3000 | 123 | 24.3902 | 147.0106 | 0 |
05-08-2015 | 3000 | 125 | 24.0000 | 171.0106 | 0 |
05-09-2015 | 3000 | 127 | 23.6220 | 194.6326 | 0 |
05-10-2015 | 3000 | 124 | 24.1935 | 218.8262 | 0 |
05-11-2015 | 3000 | 125 | 24.0000 | 242.8262 | 0 |
05-12-2015 | 3000 | 126 | 23.8095 | 266.6357 | 0 |
05-01-2016 | 3000 | 127 | 23.6220 | 290.2578 | 0 |
05-02-2016 | 3000 | 129 | 23.2558 | 313.5136 | 0 |
continues investing every month | |||||
05-08-2018 | 3000 | 140 | 21.4286 | 921.4285 | 171.0106 |
05-09-2018 | 3000 | 142 | 21.1268 | 942.5553 | 194.6326 |
05-10-2018 | 3000 | 140 | 21.4286 | 963.9838 | 218.8262 |
So the answer to your question is if you want to redeem your Mutual funds, all the units which have completed 3 years you will be able to redeem, the ones which haven’t you will not be able to .
Regards
Thanks lindo
nice explanation
total units accumulated option is available on zerodha?