Invested in mutual Fund - ELSS (Planning to invest 2000/month)?

Just started investing in MF and I am new to all these stuff. 1. I have invested 2000 this month and it it necessary that I have to invest the same amount every month? 2. As it is ...show more
Answer:

Hi, I think you are talking about the systematic investment plan. Since you have started investing 2,000/month, 1.u will have to keep investing the same amount every month.2. u cannot withdraw your money before 3 years. In fact every monthly investment of yours will have a lock-in period of 3years. For eg. If you started you investment in the month of feb 2008 then you can withdraw this amount in march 201, then your next installment of of march 2008 can be withdrawn in April 2011 and so on.3.Once you have started your monthly installments then you cannot change it to any other scheme. Yes, can start a new investment by stopping you current monthly installments. http://www.investorcamp.blogspot.com

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ELSS funds have a lockin period of 3 yrs. so you cannot withdraw or switchover in between. In extreme cases if you want to do it, then you have to pay the specified amount as penalty for premature closing

Madboy P

It is better to put every mont in live insurence plan,it is better than Mut. fund,tax reate,insurance and better yields than Mutual fund, I`m a bank officer from sbi.

sarna_anil

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