The lock-in period of your ELSS fund will decide if you can switch fund houses
21-Mar-2023
Can I switch my ELSS fund house? - Rajesh Shah
Equity-linked savings scheme (ELSS) funds come with a mandatory lock-in period of three years from the date of investment. If you want to switch your ELSS from one fund house to another, you need to redeem (withdraw) your existing ELSS investment and reinvest it in another ELSS fund from a different fund house.
However, since ELSS or tax-saving mutual funds cannot be redeemed during the lock-in period of three years, it is not possible to make a switch until the lock-in period has ended. You can only switch your ELSS fund to another fund house after completing the lock-in period.
To summarise, if the lock-in period of your existing ELSS fund has ended, you can switch it to an ELSS fund from a different fund house. If your ELSS fund is still in its lock-in period, you will have to wait for its lock-in period to end before you can switch it to an ELSS fund from a different fund house.
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