When it comes to your need of some desperate money, there are many funding options that you can look up.
However, if you have already invested into a lucrative investment scheme such as the mutual funds, you can loan against it.
The loan against mutual funds is an easy way to get access to a large amount of money at without liquidating it.
If you have the required eligibility for it, you can avail the loan against mutual funds super easy and without hassles.
We have come up with an informative post to help you know more about the loan against mutual funds.
What is the loan against mutual funds?
As the name suggests, the loan against mutual funds is offered when you pledge your investments such as mutual funds. Depending on your loan eligibility, you can get up to Rs.1 crore as the loan amount and fund your multiple needs.
You can also apply for a loan against mutual funds at an affordable rate to manage repayments.
What is the eligibility criterion for a loan against mutual funds?
- The applicant should be a citizen of India
- Your age must be at least 21 years
- You should either be a working professional or self-employed with a consistent flow of money
- To get the loan, the value of your mutual funds needs to be at least Rs.10 lakh
What documents are needed for the loan application?
- Valid ID proofs such as PAN Card, Aadhaar Card and Driving License
- Address proofs such as Aadhaar Card, Passport and Voter ID Card
- The documented proofs of the mutual funds’ investments
- Recently taken colour passport size photograph
What are the advantages of the loan against mutual funds?
When you apply for loan against mutual funds, you will get to avail of many benefits such as:
- Higher loan amount
You have the authority to borrow as high as up to Rs.10 crore at an affordable rate of interest. All that you need to do is pledge you invested mutual funds and completed some formalities. This way, you can fulfil many needs without liquidating the assets.
- Quick application and disbursal process
When you apply for loan against mutual funds with a leading lender, you do not have to wait for your loan approval for long. With faster approvals and disbursal to assist you to cherish your dreams; you will have a great time with what you wanted to do.
- Flexi loan facility
Leading borrowers in India let you enjoy the flexi loan facility when you apply for loan against mutual funds. Under this feature, you can borrow any amount out of your sanctioned limit and pay only interest as the EMI and nothing else. The remaining portion of your loan amount gets adjusted after the completion of the loan tenor.
- Dedicated Relationship Manager
Lenders also appoint a dedicated Relationship Manager for the customers. You can connect with your Relationship Manager 24/7 as per your needs. Hence, you may get assistance regarding the loan and investment-based queries.
- Online loan account access
You can go through the digital customer portals of the lenders 24/7 and from anywhere to track your loan against mutual funds details.
Applying for the loan against mutual funds can help you cover your urgent monetary needs without liquidating your assets. You can compare all such loan offers online and apply for one that best suits your income level and repayment capacity.