Mutual funds are avenues for long term wealth creation. And to discourage investors from constantly churning their portfolio in the short term, mutual funds have the concept of ‘exit load’. Typically, for equity mutual funds, exit load is levied if you withdraw or sell investments within one year of purchase. In case of debt funds, the exit load period is reduced to 3 months. Liquid funds carry a 15-day or a 30-day exit load period.