Online Mutual Fund Unit Transfers Now Possible for Investors

If you own mutual fund units, you can now easily transfer them to others online, even if they are not in a special account called a demat account.

This change lets you give your units to family or friends more easily.

First, the transfer can be made between joint holders and also from the deceased to their heirs.

Second, you can now transfer units to relatives or third parties.

There are some important things to know: When you transfer, you have to choose if it is a gift or a regular transfer, because taxes are different for each choice.

Also, there is a 10-day wait before the units can be sold after the transfer.