How to Redeem Regular ELSS MF and invest the same ELSS in Direct MF zerodha??

[jigitharish]

Hi All,

From past 1 year i’m doing SIP in DSP Blackrock Tax Saver Regular ELSS fund. I need to switch Regular ELSS plan to direct ELSS plan. So i’m thinking to stop Regular fund and invest the same amount in new direct fund.

My doubt is, What will happen if i stop Regular Sip??

To redeem those invested amount, i have to wait till lock-in 3 yr period right?? Could any one plz clarify on this.

Thank you
Harish

[Bhuvan]

@jigitharish

My doubt is, What will happen if i stop Regular Sip??

Your units will remain as is and you can redeem them after 3 years.

@jigitharish

To redeem those invested amount, i have to wait till lock-in 3 yr period right?? Could any one plz clarify on this.

Yes.

[jigitharish]

@Bhuvan

redeem those invested amount, i have to wait till lock-in 3 yr period right??

Thank you Bhuvanesh.

[Abhilash_Patil]

After completion of 3 years does the Elss mf will redeem automatically or we have to send request for redeemtion?
One more question
Can I held elss mf for more than 3 years?

[lindo]

Hi Abhilash,

It is an investment you have made, so you have to place a redemption request if you want the money to come back. Yes you can continue to keep your ELSS holdings beyond 3 years, and redeem it whenever you wish beyond that 3 year lock in.

Regards