Instant Redemption Portfolio comprises of your investments made in Instant Redemption Funds. In such schemes you can withdraw up to ₹50,000 directly into your Bank Account, on any day, without any exit load. This amount is withdrawn instantly and reflects in your Bank Account within few minutes, while the rest of the amount is deposited to your Bank Account in the next 2 days.
Instant Redemption funds are an ideal place to park your idle money as they earn more than your Savings Bank (3.5% p.a.).