As per the SEBI circular, the redemption amount will be credited directly to your registered bank account instead of Upstox wallet. 

Note: Any transaction can be placed within cut-off time as for sell/redemption cut-off time is 2:50 pm and the settlement cycle is of T+ N days.

How it works:

  • ‘Open status’ will be seen on ‘T’ day

  • Further the MF order should move to ‘Placed’ status which means it is moved from the Exchange to the RTA.

  • Depending upon the scheme category the settlement cycle will be different which is as below-

Below is an illustration table to refer to ‘N’ working days in a better way.

Scheme category

Settlement TAT

Cut-off timing

Liquid/Overnight Funds

        Upto T+1 day

     2:50 pm

Debt, Equity, Hybrid funds

        Upto T+3 days 

     2:50 pm

Overseas/International funds

        Upto T+10 days

     

     2:50 pm