Please Note: If you are unable to open the redeem authentication flow on iOS devices, enable pop-ups for ‘Safari’ from settings.
In order to redeem your investment, you have to place a redemption request by following these steps:
Step 1: Log in to the Upstox app using your 6-digit PIN or biometrics.
Step 2: Go to the ‘Discover' tab from the bottom navigation bar and click on 'Mutual Funds - Your Portfolio'
Step 3: Once you click on ‘Your Portfolio’, you will be redirected to the page where under MF portfolio you need to click on ‘View Investments’.
Step 4: Here you will see your investments which might be in Profit/Loss with Investment amount and current value. Click on the fund name you wish to redeem and then click on ‘Redeem funds’.
Step 5: Fill in the number of units you wish to redeem and click ‘Next’. There could be a possibility that all your units are not allowed to be redeemed because of the lock in period of the fund
Step 6: You will be redirected to the CDSL page for authorising the sale transaction by entering the TPIN. Over here you can either generate a fresh TPIN or if you already have the TPIN then you can reuse it.
Note: If you’re an iOS user ensure you grant access for pop-up window.
Step 7: Enter the TPIN.
Step 8: Then verify the transaction by entering the OTP received on your registered mobile number and email id.
Step 9: After approving the transaction on the CDSL page, click ‘close’. If you are using the Upstox web portal, after the transaction has been approved on the CDSL page, return to the Upstox page by closing the CDSL tab.
Step 10: Once you are back on the Upstox MF page check the number of units you wish to redeem and click ‘Place Order’
Step 11: You will now be able to see if the redemption request has been placed successfully.
The amount will be credited to your bank account within 5 working days.
Click on ‘View Order History’ and under ‘All Orders’, you will be able to see your sell order status.
You will see a confirmation message as the sell request is confirmed.
Click on ‘View Order History’ and under ‘All Orders’, you will be able to see your sell order status along with the redeemed amount, payment date and bank account number. Here you can check on which date the redemption amount will be credited to your account.
Below is the illustration table to understand the ‘N’ working days for reference.
Type of funds and number of applicable days (tentatively),
Note: As per SEBI circular, redemption of the mutual funds amount will happen to your bank account directly now instead of the Upstox wallet. It will take up to T+N working days for the amount to be credited to your bank account after the redemption request is placed successfully. You will see a confirmation message as the sell request is confirmed.
Until further notice, you do not need to pay CDSL charges when redeeming or selling mutual funds.