The SBI Mutual Fund redemption form is the “Transaction Slip” published by SBI Mutual Fund, and you use its redemption block to sell some or all of your units and receive the proceeds in your registered bank account. You can download it from sbimf.com, collect it at any SBI Mutual Fund branch or CAMS service center, or avoid paper entirely by redeeming through the online investor portal at online.sbimf.com. Most proceeds reach your bank account within two to three working days.
What to Gather Before You Start
Missing any of the following will get your request bounced:
- Your folio number, exactly as it appears on your account statement. This is how the registrar pulls up your account.
- The scheme name, plan (Regular or Direct), and option (Growth or IDCW), with the IDCW facility type if applicable. Copy the scheme name from your statement; “SBI Equity Fund” instead of “SBI Blue Chip Fund” will fail.
- The PAN of the first holder.
- A decision on how you want to redeem: a specific rupee amount, a specific number of units, or all units. You tick one, not more than one.
- Confirmation that the bank account registered in your folio is the one you want the money paid into. The fund house will not pay out to an unregistered account. If you need to change it, file a bank mandate change through CAMS or the SBI MF portal first and let that update settle before you submit the redemption.1CAMS Online. Digital Bank Mandate Change
Your signature is checked against the specimen on file. If it has drifted over the years, or you sometimes use initials and sometimes a full signature, update the specimen before you redeem. Joint holders sign in the order recorded in the folio, following the holding mode on record.
Where to Get the Form
SBI Mutual Fund uses one Transaction Slip that doubles for additional purchases, switches, SIPs, SWPs, STPs, and redemptions. The redemption request is one block inside it.2SBI Mutual Fund. Transaction Slip – Debt Liquid Equity Schemes Three ways to get it:
- Download the editable PDF from the forms section of sbimf.com under Investor Services. Fill it on screen, then print and sign.
- Download the dedicated redemption slip from CAMS at camsonline.com under Paper Financial Transaction Request.3CAMS. CAMS Redemption Transaction Slip
- Walk into any SBI Mutual Fund branch or CAMS service center and ask for a slip.4SBI Mutual Fund. SBI Mutual Fund – Redeemed Scheme Details
Filling Out the Redemption Block
Ignore the sections of the slip you don’t need. Work only on the block labeled “Redemption Request.”2SBI Mutual Fund. Transaction Slip – Debt Liquid Equity Schemes
At the top of the slip, write your folio number in clear block letters. Fill in the first holder’s name, PAN, and KYC identification number. If you invested through a distributor, enter their ARN and EUIN. Direct plan holders without an advisor leave those fields blank or tick the execution-only declaration box.
In the redemption block, write the scheme name exactly as it appears on your statement. Tick Regular or Direct, then tick Growth or IDCW. Choose one — and only one — of the three modes: a rupee amount, a number of units, or All Units. Filling two modes creates ambiguity and delays processing. If you want to exit the scheme completely, ticking All Units is the cleanest choice.
Sign at the bottom where indicated. Joint holders sign in the recorded order. Print legibly throughout; CAMS keys handwritten forms in manually, and illegible entries slow things down.
How to Submit
At a Counter
Take the completed, signed slip to any SBI Mutual Fund branch or CAMS service center. Staff will check the form for obvious errors and hand you a timestamped acknowledgment.3CAMS. CAMS Redemption Transaction Slip Keep it. The timestamp determines which day’s NAV applies to your redemption, and it is your proof of submission if anything goes wrong.
Online
Log in to online.sbimf.com. The portal authenticates with an OTP sent to your registered mobile number.5SBI Mutual Fund. Customer Login – Online Transaction Platform Open the transaction menu, pick the scheme, enter the amount or number of units (or choose All Units), and confirm. The portal generates a reference number immediately. Save it.
Online submission is faster, sidesteps signature-mismatch rejections because the OTP replaces the signature, and is the only route for the instant redemption facility on liquid and overnight funds.
When the Money Reaches Your Bank
SEBI caps the payout window at three working days from the redemption date for most schemes, and five working days for schemes that invest at least 80% of assets in overseas securities.6Securities and Exchange Board of India. FAQs for Mutual Fund Investors Equity fund redemptions in practice settle in two working days.
Payment is electronic — through NEFT, RTGS, or direct credit if your bank has a tie-up with SBI Mutual Fund.7SBI Mutual Fund. SBI Mutual Fund – Electronic Payouts For this to work the folio needs a valid IFSC and a core banking account number of at least ten digits. If electronic transfer fails, a physical cheque is sent to your registered address, which adds days.
Instant Redemption for Liquid and Overnight Funds
Resident individual investors holding liquid or overnight fund units in non-demat form can use the Instant Access Facility through the online portal. The money is credited the same day, often within minutes, via IMPS. The daily limit is the lower of ₹50,000 or 90% of your current investment value in that scheme. A paper form cannot access this facility.
What Comes Off the Top
Two things reduce what hits your bank account against the NAV multiplied by units redeemed.
The first is the exit load, deducted by the fund house if you redeem before a specified holding period. The percentage depends on the scheme, so check your scheme information document. Most equity funds charge 1% if redeemed within one year. Liquid funds carry a graded exit load if redeemed within seven days and nothing after that.8SBI Mutual Fund. Liquid Funds – SBI Mutual Fund Overnight funds and some ultra-short-duration funds carry no exit load. Your redemption confirmation shows both the gross and net amounts.
The second is capital gains tax. Redemption is a taxable event. For equity-oriented funds, gains on units held under 12 months are taxed at 20%, and long-term gains above ₹1,25,000 across all equity funds in a financial year are taxed at 12.5%.9AMFI. Tax Regime for Mutual Funds For specified mutual funds (over 65% in debt and money market instruments) with units acquired on or after April 1, 2023, all gains are treated as short-term and taxed at your slab rate regardless of holding period. Other non-equity funds are taxed at 12.5% on long-term gains for holdings beyond 24 months, with short-term gains at your slab rate.10Nippon India Mutual Fund. Tax Reckoner for FY 2025-26 Stamp duty, which applies when you buy, does not apply when you redeem.
Why Redemption Requests Get Rejected
- Signature mismatch. The single most common cause. If your signature has shifted, update your specimen before you redeem.
- Wrong or incomplete scheme details. Copy the name verbatim from your statement.
- Multiple redemption modes selected on one request. Pick one of amount, units, or All Units.
- Folio under lien or pledge. The fund house cannot redeem pledged units until the lien is released.
- KYC lapsed or incomplete. Update your KYC first.
- Bank account not registered to the folio. File a bank mandate change and wait for it to take effect before you redeem.1CAMS Online. Digital Bank Mandate Change
If rejected, CAMS or the fund house notifies you by email or SMS. Fix the issue and resubmit. The NAV applied is based on the new submission date, not the original one, which matters in a volatile market.
If You Are an NRI
NRIs can redeem, but the process has extra conditions. The redemption request must be submitted in original — a scan or photocopy is not accepted — at an official point of acceptance, with the folio number, scheme details, and signatures of all holders on record or their Power of Attorney holders.11SBI Mutual Fund. SBI MF-NRI Corner Proceeds go to the NRE or NRO account registered in the folio, with TDS applied. A lower treaty TDS rate can be claimed by filing a Tax Residency Certificate, Electronic Form 10F, and a self-declaration with the fund house before the redemption.10Nippon India Mutual Fund. Tax Reckoner for FY 2025-26 Without a PAN on file, TDS jumps to 20% or the Income Tax Act rate, whichever is higher. Investments made on a repatriable basis through an NRE account can be moved out of India through your bank once credited, as long as you remain a non-resident under FEMA. International wire transfers can take up to five additional business days.