Why is the money credited to my bank account different from the amount I placed the withdrawal for?

If you try to withdraw only long-term units or try to withdraw completely from a fund (or set of funds), the final money credited may be different from what you saw when you placed the withdrawal.

This happens because both these modes are unit-based withdrawals. You’re essentially redeeming units for these funds from the mutual fund company, and the value of each unit,called NAV,changes daily.

The NAV that gets honoured is the NAV on the day the withdrawal is processed by the mutual fund company. This can be 2-5 business days from the date of placing the withdrawal order.