open ended - we can redeem this mutual fund type at any 
time according to our convinience because it is open ended.

close ended - This mutual fund type is for tax benefit so 
it is for some fixed time period i.e. for 3 years. so we 
can not redeem it maximum for 3 years.

Open-end fund
The term mutual fund is the common name for an open-end 
investment company. Being open-ended means that, at the end 
of every day, the fund issues new shares to investors and 
buys back shares from investors wishing to leave the fund.


A closed-end fund is a publicly traded investment company 
that raises a fixed amount of capital through an initial 
public offering (IPO). The fund is then structured, listed 
and traded like a stock on a stock exchange.

Also known as a "closed-end investment" or "closed-end 
mutual fund."

open ended: open ended schemes offers the investors to 
withdraw the money whenever they want.

close ended: close ended schemes doesnot offers the 
investor to withdraw the money whenever they want. these 
funds have fixed maturity period.