Glide Invest FAQ: What is Insta Redemption? How do I avail this facility?

What is Insta Redemption? How do I avail this facility?

Mutual Fund withdrawals typically take up to 2-3 working days to credit the amount back to your bank account. Insta-redemption is a facility by which you can withdraw upto Rs. 50,000 or 90% of your invested balance (whichever is lower), within 30 minutes, on any given day through the IMPS facility.

We recommend all our investors to start their investing journey with us by setting up an Emergency Fund.  We have partnered with ICICI to provide their Liquid scheme with a insta-redemption facility only when you invest in an Emergency Fund through our app.  This goal will only have "ICICI Pru Liquid Fund - Direct (Growth)" scheme in it, which is enabled with the insta-redemption facility. Our Emergency Fund has several advantages:
  1. it is easily accessible through the app,
  2. it earns more than your savings account,
  3. there is not penalty on withdrawal (if you withdraw after 7 days of your investment),
  4. and is easily insta-redeamable into cash in your bank account within 30 min (upto Rs. 50,000 or 90% of the invested balance, whichever is lower).  
Note: if you want to withdraw more than the maximum limit, you will have to go through a normal withdrawal process. Your funds will be credited back to your bank account in 1-2 working days (depending on the cut-off time of your order).    

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