Mutual Fund NAV Cut-Off Time: Which Day's NAV Will You Get?

What is the mutual fund NAV cut-off time in India?

For purchases in most mutual fund schemes other than liquid and overnight funds, 3:00 pm on a business day is the key cut-off. To receive that day’s NAV, the application must be valid and the money must be available for use by the scheme before the cut-off.

NAV means net asset value, the per-unit value of a mutual fund scheme. The cut-off decides which business day’s closing NAV is used; it does not lock in the NAV displayed when you tap the invest button.

Is placing an order before 3:00 pm enough to get the same day’s NAV?

No, an early order alone does not guarantee the same day’s NAV for a purchase. The money must also reach the required account and be available for use before the applicable cut-off.

SEBI’s Mutual Fund Investor FAQs, published April 2023 and accessed 11 September 2026, explain the 3:00 pm cut-off for purchases in schemes other than liquid funds and the need for funds to be available before the cut-off. A current Scheme Information Document filed with SEBI, dated December 2025 and accessed 11 September 2026, applies the same principle to online transactions.

This is why two people can press invest at similar times yet receive different NAV dates when their payment rails settle differently.

Why did you get the next day’s NAV after ordering before 3:00 pm?

The most common explanation is that the fund did not receive usable money before the cut-off, even though the app accepted the order earlier. A bank delay, payment route, mandate processing time, weekend or scheme holiday can move the NAV date.

Look at the transaction record in this order:

1. the time the valid order was accepted;
2. the time the money was debited from your bank;
3. the time the money became available to the mutual fund; and
4. whether each relevant date was a business day for the scheme.

A bank debit notification is useful evidence, but it does not always prove when the scheme received usable funds. Ask the platform or fund house for the funds-realisation timestamp if the NAV date appears wrong.

What is the NAV cut-off time for liquid and overnight funds?

Liquid and overnight funds follow different purchase timing rules from most other schemes. Their purchase cut-off is earlier, and the applicable NAV also depends on when the funds become available for use.

SEBI’s Mutual Fund Investor FAQs, accessed 11 September 2026, describe a 1:30 pm cut-off for liquid fund purchases under the stated conditions. Current scheme documents should be checked because fund category, transaction type, business-day definitions and later regulatory changes can affect the operational result.

Do not apply the 3:00 pm purchase example to every scheme. Confirm the category first, then read the applicable NAV section in the current Scheme Information Document.

What is the cut-off time for mutual fund redemptions?

For most schemes, a valid redemption request received before 3:00 pm on a business day generally receives that day’s closing NAV. A valid request received after 3:00 pm generally receives the next business day’s closing NAV.

The December 2025 Scheme Information Document cited above states this before-and-after 3:00 pm treatment for redemptions. The redemption NAV date is separate from the date the cash reaches your bank.

Selling at a day’s NAV does not mean receiving the money that evening. Processing, banking and scheme-specific settlement timelines apply after the units are redeemed.

Does the NAV cut-off time apply to an SIP?

Yes, each SIP instalment is a purchase of mutual fund units and gets an applicable NAV under the same category and fund-availability framework. The date printed in the SIP schedule is the intended transaction date, but bank and operational timing still matter.

An SIP debit can also shift when the scheduled date is a non-business day or the mandate is processed later. If the debit fails, the guide to what happens when you miss an SIP payment explains the difference between a missed instalment and selling existing units.

Can you know the exact NAV before investing?

You usually cannot know the final closing NAV before placing the day’s order. Mutual funds use forward pricing, so eligible transactions receive the NAV calculated for the applicable day after market values and scheme liabilities are accounted for.

The NAV shown during the day is commonly the previous declared NAV. It can help you understand scale, but it is not an intraday trading price like a share or exchange-traded fund quote.

Trying to predict a few paise of NAV can distract from the larger decision. The scheme’s category, risk, cost and fit with the goal normally matter more than choosing between two nearby business days.

Do weekends and holidays change the applicable NAV date?

Yes, the transaction must fall on a business day as defined for the scheme. An order placed on a weekend, market holiday or other non-business day is normally processed using the next applicable business-day rules.

Check both the calendar and the scheme’s business-day definition. A local bank holiday, payment delay or a special closure can affect when funds become available even if the app remains open for order entry.

What should you check when the NAV date looks wrong?

Check the order timestamp, payment realisation, scheme category and business-day calendar before raising a complaint. Keep screenshots and transaction references, but ask for the official processing record rather than relying only on the app’s first status message.

If the dates still do not match the published rules, contact the platform or fund house with the folio number, order reference and bank debit proof. Do not post full PAN, bank or folio details publicly while seeking help.

What is the simple NAV cut-off rule to remember?

For most purchases, remember two gates: a valid order and usable money before the cut-off. For redemptions, remember that the applicable NAV date and the bank-credit date are different events.

The rules help determine a transaction price; they do not make one mutual fund better than another. Read how a mutual fund works before using order timing as an investment decision.