You certainly can! The majority of liquid and open-ended mutual funds let you take your money out fast. ELSS (tax-saving funds) has a required 3-year lock-in period. It’s wise to bear in mind that in order to be ready for crises and to stay prepared for emergencies, it’s a good idea to keep funds in an open-ended fund.

The nominee or legal heir listed with the fund house receives the mutual fund investments in the sad event of their martyrdom. The investments will be allocated in accordance with the regulations of succession if no nominee is registered. It’s crucial to have your nominee information current across all mutual fund accounts to prevent any iissues.

If your bank account linked to your SIPs is closed due to a transfer or pension-related changes, here’s what you should do:

1. Update Your Bank Details – Notify the mutual fund house and submit a bank mandate change request with your new account details.

2. Cancel Existing SIPs – Stop SIPs linked to the old account and set up a fresh SIP with the new one.

3. Submit Required Documents – Provide a cancelled cheque, updated KYC, and new bank details for verification.

4. Check Auto-Debit Activation – Ensure that auto-debit (ECS/NACH) is set up in the new account to prevent any missed SIP payments.

Taking these steps will help you keep your investments running smoothly without any interruptions.

A wise investment plan for Army soldiers who travel around a lot should be low-maintenance but efficient. Here’s a good strategy:

SIP in Equity Mutual Funds: SIP in Equity mutual funds provide long-term gains with less oversight.

Funds that combine stability with growth, known as hybrid or balanced advantage funds, lessen the need for regular portfolio modifications.

Liquid Funds: Having a portion of your money in liquid or ultra-short-term loan funds allows you easy access in an emergency.

ELSS for Tax Savings: By investing in Equity-Linked Savings Schemes (ELSS), you may accumulate wealth and reduce your Section 80C tax liability.