To make a withdrawal, go to My Funds. Tap on the fund that you wish to withdraw from. Enter the amount you wish to withdraw. If you wish to withdraw everything from the fund (i.e., all units), then select the checkbox "Redeem full amount". Just hit the button "Withdraw" and your order will be placed. The amount will be credited to your bank account within 2-3 working days.
I invested through Bank1, can I get the withdrawal amount credited to a different Bank2?
Your withdrawals will normally reach the bank account you mark as default when you open the account with Jama. If you do not specify anything then the first bank account you link is taken as default.
et us assume Bank1 is the default account. You also link another bank account - Bank2. Then all investments can be made from either Bank1 or Bank2.
When you withdraw, the funds will reach Bank1 only. If you wish to change this, then make sure that you go to Settings/Me -> Bank Accounts and mark Bank2 as default. Be sure to do this 1-2 days before you place any withdrawals.
How long does it take to process a withdrawal
Withdrawals in mutual funds normally take 2-3 working days to process. If your order is placed on a Friday evening, please be aware that it will be picked up for processing only on Monday morning (assuming Monday is not a public holiday). Processing make take 1-2 days and funds may reach you by Wednesday.
Sometimes this may get further delayed if your bank finds that the name you have given at the time of account opening is slightly different from your name in their records.
Where will the mutual fund withdrawals get credited
Withdrawal funds will get credited to your bank account which is recorded in the folio when the first investment in the mutual fund was made.
Where will the withdrawal funds get credited?
Withdrawal funds will get credited to your default bank account. This is the account details you provide at the time of account opening. You can check the default bank account by going to Settings / Me -> Bank Accounts
I invested through Bank1, can I get the mutual fund withdrawal amount credited to a different Bank2?
When you withdraw, the funds will reach the bank account mentioned at the time of the folio creation. If you wish to change this, then security rules require that you approach the mutual fund with proof of the new bank account (ie cancelled cheque). Once this is done, you can tag this bank account and request withdrawals to be made to this account. You can also place bank mandate change requests by registering online with mfcentral.com