With the Instant Access Facility, investors can redeem up to Rs 50,000 or 90% of their latest value of investment in the Parag Parikh Liquid Fund instantly. This limit shall be reset at midnight every day. The investor can submit more than one request in a single day subject to the maximum redeemable limit available.
Speaking about the launch of the Instant Access Facility, Neil Parag Parikh, Chairman and CEO of PPFAS Asset Management, said, “At PPFAS AMC, we are committed to providing our investors with the best possible investment experience. The Instant Access Facility is a step in that direction, providing investors greater flexibility and convenience in managing their investments. Currently, the IAF shall be available on the PPFAS SelfInvest Website. Subsequently, the AMC may offer the same through other electronic/digital platforms.”
The IAF shall be available only to the resident individual investors (except sole proprietor and Minor), fulfilling all the following criteria:
- The complete CBS (Core Banking System) account number is registered in the folio along with the IFSC code and
- Investor’s bank is Immediate Payment Service (IMPS) enabled.
- Further, an IAF request shall not be processed if the investor has submitted a change in bank account request in the previous 10 days.
