In this guide, we will walk you through the process of withdrawing (redeem) money from a mutual fund investment on the Groww application. If you have invested in mutual funds through the Groww app and plan to withdraw a portion of it, you can follow the step-by-step instructions provided below.
Looking at the screenshot of my Mutual fund investment, it is clear that the Axis mutual fund has performed remarkably well, providing me with a significant return of 51.38% (₹ 11,304). Based on this, I have decided to withdraw (redeem) ₹ 1000 from this fund.
You can also withdraw full mutual fund investment including your profit and invited money. However, here I will withdraw only ₹ 1000 to show you how to withdraw money.
Redeem or Withdraw Money From Mutual Fund Scheme on Groww
To withdraw money from your mutual fund investment on Groww, follow the steps below:
Step 1: Launch your Groww Application and navigate to the “Mutual Fund” section. Access your portfolio by selecting “Dashboard” which is shown in the screenshot below.
Step 2: In the Dashboard, you can view all of your mutual fund investments. Select the mutual fund investment that you would like to withdraw from. In this example, we will choose the “Axis Long-term Equity Fund,” as seen in the screenshot image below.
Step 3: When you select and tap on the mutual fund, you can see the “Redeem” option, just select and proceed.
Step 4: On the next page, enter the withdrawal amount. Here we will enter INR 1000. If you prefer to withdraw the full amount, you can select the “Redeem all” option and proceed. (You can also choose the “Units” option instead of amount) Tap on the verify and redeem and proceed further.
Step 5: An OTP will be sent to your registered email ID and mobile number. Confirm the OTP to proceed.
Step 6: Congratulations! Your Withdrawal (Redeem) order has been successfully sent to the Mutual fund house. Your withdrawal request will be processed within 5 days and the amount will be credited to your bank account after 5 working days.
By following these instructions, you can withdraw a partial or full amount from your mutual fund investment on the Groww app. Rest assured, your mutual fund will remain active, and you can continue your SIP and lump-sum investments. In times of financial emergency, you can withdraw money from your mutual fund investment anytime.
FAQ
Q.1: Can I withdraw money from Mutual Fund Investment?
Ans: With mutual fund investments, you have the flexibility to withdraw your money at any time, whether it’s a partial or full amount. This means that you can access your funds whenever you need them, providing you with the peace of mind and financial security you require. Above you can check step by step.
Q.2: If I withdraw all my money from my mutual fund, will the account be closed or deleted?
Ans: No your mutual fund scheme will remain active and you can continue your SIP and lump sum investment.