LIC Mutual Fund Portfolio related help

Q: How long does LIC Mutual Fund redemption take?

For Equity Mutual fund, you'll get your funds T+3 working days . (e.g. If you redeem unit Monday, fund credited in your account Thursday.) For Liquid fund, you'll get your funds T+1 working days. (e.g. If you redeem unit Monday, fund credited in your account Tuesday.)

You are an investor in the LIC Mutual Fund, and there are you may have any queries regarding your portfolio. This article aims to assist you with resolving your question.

Contents

How to Cancel LIC SIP?LIC Mutual Fund Redemption How I change nominee for LIC Mutual Fund?Transmission of Units How to Update Email ID and Mobile number of LIC Mutual Fund Steps to update the Email ID and Mobile number are as follows:FAQs How long does LIC Mutual Fund redemption take?How do I check my LIC Mutual Fund redemption status?Can I withdraw profit from LIC Fund?What is LIC Asset Mutual Fund Interest Rate?

How to Cancel LIC SIP?

The option to cancel or stop SIP in various ways. Investors should be aware that SIP is a non-committal investment. No charges or fines can be assessed if an investor chooses to end the plan during the middle.

There are a variety of methods to end SIP on the internet.

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AMC Online Platform
Offline submit Cancellation Form/letter to AMC Office or Registrar Office.
By contacting your Financial Advisor

For more details on LIC SIP cancellation PDF download or online process, check this article

LIC Mutual Fund Redemption

You can redeem LIC Mutual Fund units online or offline method. The redemption process can be completed anytime during the day using an easy way.

If you're already registered, log in to the LIC MF website.

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After logging in,
Click Transact Now,
then select Redemption option
Select your folio number first
then select scheme
Select Value section
click one option All unit or Specify amount
Confirm Transaction

After completing transaction received email & sms for transaction confirmation.

LIC Mutual Fund Redemption Process Download pdf

How I change nominee for LIC Mutual Fund?

Mutual Fund nomination refers to the appointment of a person to take responsibility for your investments in the fund following your passing away.

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The nominee's nomination will ensure that, after your death, your Mutual Fund holdings will be transferred to the nominee.

The preliminary information you must fill in on the form of nomination are:

Name of the nominee
Date of birth of the nominee (If minor)
Nominee’s relationship with the investor
Address of the nominee
Percentage share of each nominee (if there is more than 1 nominee), etc.

You can add up to 3 nominees in LIC Mutual Fund folio and specify the percentage share that each nominee will receive in the event of your death.

If you don't specify the percentage of your share, the Mutual Fund units will be equally distributed to all nominees named on the nomination form.

Transmission of Units

Transfer of Units is a method by which units owned by the unitholder who died are handed over to the nominee or the legal descendants or legal heirs of the unitholder who died, as the situation requires.

Transmission Request Form for Transmission of Units in favour of the Nominee(s).
Death Certificate of the deceased unitholder(s) in original OR photocopy duly attested by a Notary Public or a Gazetted Officer.
Copy of Birth Certificate, in case the Nominee is a minor.
Copy of PAN Card of the Nominee(s) / Guardian (in case the Nominee is a minor)
KYC Acknowledgment OR KYC Form of the Nominee(s) / Guardian (where Nominee is a Minor)
The Cancelled cheque with the Nominee’s name pre-printed OR Copy of the Nominee’s recent Bank Statement/Passbook (which cannot be more than 3 months old).

How to Update Email ID and Mobile number of LIC Mutual Fund

It is possible to change your mobile number & Email ID on LIC Mutual Fund online and also offline.

Login to your folio account online & “My Profile” section. User is given the option of changing the mobile no & email id.

Note: User will receive OTPs for both their email & mobile. Without OTP you can't update.

Steps to update the Email ID and Mobile number are as follows:

Login to your LIC MF Account
On the extreme top right of the menu bar, click on “My Profile” under your name
Under the Folio Details (2^nd Tab), the user has the option to change the phone number, and email id.

Note: User will get OTPs on their both the email id’s.

FAQs

For Equity Mutual fund, you'll get your funds T+3 working days. (e.g. If you redeem unit Monday, fund credited in your account Thursday.)

For Liquid fund, you'll get your funds T+1 working days. (e.g. If you redeem unit Monday, fund credited in your account Tuesday.)

When you complete redemption process, you received transaction confirmation message. Means your transaction is accepted. If any problem in your transaction you received sms & mail related issue.

You can withdraw your profit from a LIC Mutual Fund scheme. If you invested in ELSS then check lock-in period completed or not.

check this article – ELSS Fund Redemption Process

LIC Mutual Fund does not pay any interest. LIC Mutual Fund is not provide a fixed income product. Mutual Fund returns vary 5% to 20% over a 3-7 year period, depending on market conditions.