Can I withdraw money in Reliance Tax Saver only after six years?

I have invested in Reliance Tax Saver Fund. After three years, they told me I can can withdraw the full amount only after six years. Is this correct?
--Raju Kumar

Raghvendra Nath, managing director, Ladderup Wealth Management, responds:

Reliance Tax Saver Fund is an ELSS scheme which comes with a minimum lock-in period of three years. If you have made a lumpsum investment in ELSS, you can withdraw the full amount at the end of three years. But if you have invested through SIP, the units purchased through your 1st SIP investment can be withdrawn at the end of three years and the units purchased through your last SIP can only be withdrawn after three years of your last investment.

For example, units purchased on 1st January 2018, can be redeemed on or after 1st January 2021. And units purchased on 1st February 2018 can only be redeemed on or after 1st February 2021. Similarly investment on 1st January 2021 can be withdrawn after 1st January 2024. Hence you can only withdraw full amount post after six years of investment initiation of the three-year SIP. You may start the withdrawal based on the units purchased, but the full withdrawal is only possible after six years.