Redeeming mutual funds can be as easy as a single click online or a phone call. On the other hand, it might require a meeting with your financial adviser.

Mutual Funds are regulated by the Securities and Exchange Board of India (SEBI), have well laid out norms to ensure liquidity. Liquidity is one of the biggest advantages of Mutual Funds. Liquidity is ease of access or conversion of an asset into cash.
If your purchase has been made directly through the Asset Management Company then you probably have an ID and password to sign in to their portal. After logging in the investor may easily perform various transactions like buying units and also redeeming any existing fund units.

However, there may be an exit load period in certain schemes. In such cases, redemptions before a certain specified period may attract a nominal load like 0.5% of Asset Value redeemed.
You can also visit the AMC and submit the duly filled form for redemption. Once the redemption request is processed, the redemption amount reaches the customer via NEFT or through a cheque sent to the registered address.
The online mode is faster than the latter. Hence, it is advisable to go online. Also, keep in mind that offline forms are liable to get rejected due to inaccurate data filled in or signature mismatch. This may lead to unnecessary delays in the redemption procedure.

Once the redemption request is processed, it cannot be cancelled, revoked or altered. Mutual fund redemption requests cannot be placed for a particular date or price. The request once received by the concerned office is then processed at the applicable NAV of the particular day. If the request is received before 3 p.m. of the business day then the NAV of the same day is taken into consideration or else it is redeemed at the NAV of the next business day.

After receiving the redemption request the details are verified and the payout is usually made within 2-4 business days into the registered bank account of the investor. In the case of cheque dispatch, it may take a couple of more days to complete the process.