IDFC AMC introduces 'insta-redemption' facility in IDFC Cash Fund

IDFC AMC is introducing ‘insta-redemption’ facility under the IDFC Cash Fund. This facility will enable investors to get redemption proceeds in their registered bank accounts instantly.

The fund house provides the option of seamlessly updating the bank IFSC code for smooth completion of the insta-redemption process. A few clicks enable money transfer from the cash fund to the savings account, which can then be easily withdrawn. The transfers will be done using the Immediate Payment Service (IMPS) provided by various banks and the entire process should take a few minutes. The facility will be available on all days and at all points of time through the online transaction mode.

Vishal Kapoor, CEO, IDFC AMC said: “IDFC AMC would like to make investing simpler and more convenient. With the insta-redemption facility, investors will have access to their cash fund instantly. Therefore, it provides the best of both worlds – potentially better returns than provided by a savings account, while having the same flexibility and ease of access to funds. This is even more pertinent in the current scenario, where many banks have been reducing their savings account interest rates.”


Insta-redemption is being offered under the IDFC Cash Fund – Growth option for both direct and regular plans. In case an investor has multiple folios, he can redeem a maximum of Rs. 50,000 or 90 per cent of clear balance on a calendar day, from any combination of multiple folios under his PAN.