How to use the PPFAS Liquid Fund Instant Access Facility

Sun, 17 May 2026 00:00:00 +0000

The Instant Access Facility (IAF) is what makes the Parag Parikh Liquid Fund a viable replacement for a savings account on the emergency-fund use case. Standard mutual fund redemption is T+1; IAF is T+0, with the bank credit reflecting within roughly 30 minutes, available 24x7 subject to bank-side IMPS uptime. SEBI’s 2019 Liquid Fund Risk Management Framework caps the facility at Rs 50,000 per day per folio or 90 per cent of folio value, whichever is lower. Use it for the genuine emergency-fund use case (medical, immediate cash need); use standard T+1 redemption for everything else, since standard redemption has no cap and clears the next business day anyway. IAF is scheme-specific: only the Liquid Fund supports it, available through SelfInvest or the dedicated CashFlex app.

Liquid Fund on WebNotes

How to use the PPFAS Liquid Fund Instant Access Facility