Will I get same day's NAV?

If I am making a purchase during the business hours, do I get the units at yesterday's closing NAV price or today's price which will be decided later in the day?
- Abhinandan

The type of funds you are buying and the time of purchase would determine the NAV you would get. For equity and other type of other funds, the official cut-off time is 3 pm. If you are purchasing before 3 pm, the NAV of the same day would be applicable. For applications received after 3 pm, the NAV of the next business day would apply.

If you are buying a liquid scheme, the official cut-off time is 2 pm. If the money is available for utilisation on the same day before the cut-off time, you will get the NAV of the previous day. If the fund is not available for utilisation, the NAV of the immediate preceding day on which the funds are available for utlisation would be applicable.

This article was originally published on November 16, 2015.