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Which account will my money be redeemed to?

When you redeem your mutual funds, the money goes to the bank account linked to your investment format. Here's how it works
  • SOA (Physical) Format: The redemption amount is credited to the bank account linked with the folio.
  • Demat Format: The redemption amount is credited to the bank account linked with the demat account.
Changing Bank Details for SOA Format:
1. Log in or create an account on MF Central.
2. Go to the 'Service Requests' section.
3. Select 'Change of Bank Account Details'.
4. You will see the bank account currently linked to your mutual funds and can update it.

Note: It may take 10–15 business days to update your bank details in the folio.

Changing Bank Details for Demat Account via Groww:
1. Go to your Groww profile.
2. Click on 'Bank & Mandates'.
3. Add your new bank account and mark it as Primary.

The update will reflect in your demat account within 5–7 business days.
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