Stop and Redeem are two different features of SIP. When you stop the SIP, you actually exit or discontinue from the SIP plan and you no more have to pay the investment installment. However, redeem means that you withdraw the funds accumulated in your account. You can either withdraw partially or fully, but the SIP plan is still active and you have pay the pre-determined investment installments at the said interval. Redemption of funds levies exit load, that vary from funds to funds.