There are several occasions in life when you may have to liquidate your investment to raise funds for an emergency or once you have reached your goal. Here is a snapshot on how to go about liquidating your investment and the possible time-frame needed to do it.
BANK FIXED DEPOSITS:
This is the easiest to liquidate if you have a savings bank account with the same bank. Just walk into the bank branch with your fixed deposit receipt (FDR) and on the maturity date, the proceeds are immediately transferred to your savings account. If it is before maturity date, you may have to pay a penalty.
MUTUAL FUND:
Your mutual fund sends you a copy of the statement. The bottom part of it is a perforated and is a transaction slip. You need to fill in the transaction slip and tick the relevant particulars redemption form and submit it to any of the registrar's office or office of the asset management company before 3 pm. It will acknowledge the same with a time stamp. If things are in order, within T+2 working days, your cheque shall be ready. If you have mandated a direct credit in your account, the funds shall be credited into your account. This is now possible in most major cities in the country.
STOCKS:
When you wish to sell a share, you need to call a broker with whom you have a securities trading account. You can place a sell order with him. Once the order is executed, you need to deliver the shares to your broker's account by filling in a demat transaction slip on the next day. On the pay-in day, you are eligible to get a cheque for the sale of your shares from your broker. So if you sell your shares on Monday, typically you shall get your cheque on Wednesday, or it will be credited into your account directly.
POSTAL SAVINGS SCHEMES:
If you have a National Savings Certificate (NSC) then a week before the maturity date (six years), you should hand over the physical certificate duly signed by the unit-holders to the respective post office. In some cases, it will have to process it through the head office, and hence the entire process will take 3-5 days. So, it is necessary to give it the postal authorities a week in advance. Once the application is processed, the cheque for the due amount will be given to you on maturity.
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