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Redeem is completed but amount has not been credited.

The redemption cycle depends on the type of fund. 

Each fund has a different settlement type that determines when the AMC will transfer money to the user to complete the redeeming process.

Even though unit allotment happens within a couple of days of placing the order (T+2),  the time taken by the AMC to credit the redemption payout to the investor is different and based on the type of the scheme.

Liquid funds -> T+1 days
Debt funds -> T+2 days
Equity funds -> T+3 days
International funds -> T+5 or more days 

where T is the date when the order was approved by the AMC.

Note: Most schemes follow the redemption cycle mentioned above. But there may be some schemes with a certain scheme type that may have a different redemption cycle.

NAVs are updated at 9 PM every day by the AMC. 
If you place a redeem order on 5th May, you will see your dashboard value of NAV. 

If NAV on 5th May > NAV on 4th May:
You will receive more money than the order amount. 

If NAV on 5th May < NAV on 4th May:
You will receive less money than the order amount. 

You will receive the amount according to the latest NAV. 

If there were units that had an exit load applicable at the time of redemption then the amount settled to you by the AMC will be less than the amount requested for redemption.
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