Exit load in SIP Arvind Mehta, 25 Feb 2013

I had SIP of Rs 3000 in ICICI Focused Bluechip for 1 year till December 2012. Can you tell me if exit load will apply when I redeem next month?

Fintotal Answer

Exit load on mutual fund SIP applies on first-in-first-out basis. Each installment is considered as separate investment as hence each installment must complete the exit load period if no exit load is to apply. This fund has exit load of 1% for investment up to 1 year. So you can withdraw Rs 9000 in March for the 3 installments that have competed 1 full year and just Rs 3000 every month after that, without being charged exit load.

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