In one word: No.

You cannot withdraw the entire investment amount that you had invested in an ELSS (Equity-Linked Savings Scheme) if you invested it via Systematic Investment Plan (SIP).

This is because an SIP is nothing but a mandate given to your bank to transfer a particular sum of money from your bank account to the fund house in favour of your mutual fund investment. Thus, an amount gets debited from your account every month and you get the mutual fund units in your portfolio accordingly.

But with every SIP, your investment date changes, ie. the same date of every consecutive month. Hence, the mandatory three year holding period, too, changes for every SIP installment.

SIP date

Mandatory three years holding period

15 March 2017

15 March 2020

15 April 2017

15 April 2020

15 May 2017

15 May 2020

Hence, you can withdraw your investment amount from an ELSS fund only after the three-year holding period is completed for every installment.

However, if you invested in ELSS via a lump sum, then that investment’s three-year holding period will be completed on one day only.

Lump sum investment date

Mandatory three years holding period

15 March 2017

15 March 2020

Thus, in a lump sum ELSS investment, you can withdraw your money any day after 15 March, 2020.

All the best with your ELSS investment.