No, it usually takes 1-3 working days for the funds to arrive. Redemption time varies with different fund products and trading platforms (specific to the trading platform).

T+ 1 of the fund is traded and redeemed on the trading day, and the share is confirmed on the second trading day according to the net value at the close of the redemption date. After the share is confirmed, the fund company will make settlement after the redemption by the general investors, and the funds will be received after the settlement is completed.