Yes, you can redeem anytime. To redeem your Mutual Fund: Go to the respective Mutual Fund in Portfolio > Tap on Redeem > Add the amount you want to redeem > Enter the OTP & confirm your Redemption Request. 

Investments in Open-Ended Mutual Fund schemes are redeemable at any time. However, investments in the Equity Linked Savings Scheme (ELSS) carry some restrictions, as they come with a three-year lock-in period from the investment date. Please check lock-in periods of Mutual Funds when you make any investment.