Exit Load is the amount that Mutual funds companies collect from investors when they Exit or leave a mutual fund scheme. The companies charged exit load to discourage the investor from exiting from the fund. Different mutual funds companies charged different exit load. 

The Securities and Exchange Board of India (SEBI) finalized the graded exit load structure on liquid funds.
From October 2019, SEBI has allowed fund houses to impose graded exit load on liquid fund investors who exit the scheme within 7 days from the purchase date.

The graded exit load has been set at 0.0070% on redemption on day 1, 0.0065% on day 2, 0.0060% on day 3, 0.0055% on day 4, 0.0050% on day 5, 0.0045% on day 6 and 0.00% from day 7 onwards. For example, if an investor redeems Rs 1 crore, the applicable exit load will be Rs 700 after the first day, Rs 650 after the second day and so on. 

This means investors redeeming after a day will have to pay more exit load than the investors redeeming it on the seventh day. SEBI also said that the load structure will be changed annually based on the interest rates in the system.