For investment transactions, the cut-off time for all non-liquid fund transactions of values less than Rs. 2 lakh (in a single scheme) is 2 PM on business days for transactions to be processed with the same day’s Net Asset Value (NAV). For liquid funds (any amount), and for non-liquid fund transactions greater than or equal to Rs. 2 lakh (in a single scheme on a single day), the cut-off time for the same day’s NAV to be applicable will be 1 PM.
For non-payment gateway transactions (NEFT), FundsIndia’s cut-off time for same day execution is 1:45 PM. That is, transactions for which the transfer details are updated at FundsIndia on a business day before 1:45 PM will be executed the same business day. Transactions completed after the cut-off time will be executed the next business day.
For redemption on the same day with that day’s NAV, the cut-off time is 2 PM for business days. The money will be credited in your account as per the following schedule.
Equity funds – 3 business days
Debt funds – 2 business days
Liquid Funds – 1 business day
The Securities and Exchange Board of India (SEBI) has special guidance for processing transactions (SEBI Circular No. CIR/IMD/DF/21/2012) of more than Rs. 2 lakh. The transfer of money to the Asset Management Company’s (AMC) bank account has to be completed by 3 PM for qualifying for the same day’s NAV.
Your funds will be remitted to the AMC’s bank account before 3 PM (on a best effort basis) to get the same day’s NAV. If the money reaches the AMC bank account later due to inter-bank transfer delays, the NAV of the next business day will be allotted.