Can I withdraw all my ELSS investments at once?

I began an SIP in an ELSS three years ago, and the lock-in period has now ended. How will the redemption process work? - Anonymous

The three-year lock-in period applies separately to each of your 36 SIP instalments, starting from their respective investment dates. This means that when you look to redeem, only the first instalment will be eligible for withdrawal. The subsequent instalments, which haven't completed the three-year period yet, will still be locked in.

Here's another example to help you understand. Let's assume you started investing in an ELSS four years back. Since these funds have a three-year lock-in, only the money invested in the first 12 months will be eligible for withdrawal. You won't be able to redeem the rest of the investment, as it is yet to complete its three-year lock-in period.

Also read: Tax harvesting can reduce your tax outgo