For redemption received up to 3 P.M. - the lower of (i) NAV of previous calendar day and (ii) NAV of calendar day on which application is received shall be applicable.
For redemption received after 3 P.M. - lower of (i) NAV of calendar day on which such application is received and (ii) NAV of next calendar day shall be applicable.
Instant Redemption is valid for only Smart Saver Fund.