Purchase transactions - Purchase transactions are classified under 3 different categories viz; Normal, L0 and L1.

• L0 transaction - Transactions that are placed to purchase units of Liquid Mutual Fund schemes by selecting L0 as a suffix to the scheme type, are called L0 transactions. L0 transactions are accepted on the StAR MF platform till 1:30 p.m. only on a normal working day.
• L1 transaction: Transactions that are placed to purchase units of Non-Liquid Mutual Fund schemes and have a value of Rs 2 Lakhs and above are called L1 transactions. L1 transactions are accepted on the StAR MF platform till 2:30 p.m. only on a normal working day.
• Normal transactions – Transactions that are placed to purchase units of Non-Liquid Mutual Fund schemes and have a value of less than Rs. 2 lakhs are called as normal purchase transactions. Any Liquid transaction, which is not placed by suffixing L0 in the scheme type are also called Normal transactions.

Redemption transactions - Transactions that are placed to redeem (Selling back the units to the respective AMC) the already owned Mutual fund units are called redemption transactions.

Switch transactions – Transactions that are placed to redeem the already held units in a particular scheme of an AMC to purchase the units of a different scheme issued by the same AMC, without transfer of any funds is called as a switch transaction.