Can I transfer money from one mutual fund to another?

Investors switch their investment from one open ended scheme to another within the same fund house for better financial planning. To switch within the same fund house, fill up a switch form specifying the amount/no. of units to be switched from the source scheme and name of the destination scheme.

How do I transfer from one mutual fund to another online?

Online. Login to your mutual fund account – either the AMC provides it, or you can access it via agencies like CAMS or KARVY. Visit the transaction page, where you can buy, change, or redeem your fund units. Select the ‘switch’ option and then click on the respective fund name.

How do I transfer mutual funds to my bank account?

Redemption via Online Portal You may redeem your mutual fund units in the same way as you bought them. The redemption request is processed after confirmation of the same and the money will be directly transferred to your linked bank account.

Can I transfer units from one folio to another?

Folio consolidation can be done only at a mutual fund level. Folios held across different mutual fund houses cannot be merged.

Can I transfer money from one mutual fund to another without tax?

If you want to move your IRA mutual funds to a new custodian, the simplest way is to request a tax-free trustee-to-trustee transfer. If you instead cash out the old fund, you have 60 days to deposit the money into the new IRA. If you miss the deadline, you must include the money in your ordinary taxable income.

What if I stop ELSS before 3 years?

Can ELSS be Withdrawn Within 3 years? The simple answer to this question is No. ELSS investments do not provide the option to withdraw the investment amount before the end of the 3-year lock-in period. In ELSS, investors are given fund units against their invested amount.

How do I transfer mutual funds?

Transfer of mutual funds You can transfer your existing MF holdings from the present broker to the new broker, or if you were investing without a broker then have the new broker’s Association of Mutual Funds in India registration number added to your existing investments.