of Tata Capital digital loan The fund houses are offered against equity and debt mutual fund schemes. The customers can avail the loan amount by marking lien on mutual fund units managed by various asset management companies, said Tata Capital’s press release. The press release said, “Backed by technology and analytics, LAMF is a personalized product to meet the diverse fund requirements of the client. The loan amount is customized based on the value of the units in the mutual fund folio and tenure. ”
The press release states that the client is not required to redeem the portfolio and pays interest only on the applicable loan amount.
Customers can apply for Loan Against Mutual Funds by logging in: https://www.las.tatacapital.com/online/loans/las/apply-now-las-loan
According to the Tata Capital press release, these are some of the key benefits of digital LAMF:
- End-to-End Online Journey: Onboarding to Disbursement
- The loan can be applied as an overdraft facility or a term loan
- Auto renewal facility available for more than one year period (subject to review of mutual fund portfolio)
- Online Lien Marking of Mutual Funds through CAMS API
- The service portal includes features of disbursement, withdrawal, excess pledge and pledge.
- online execution of documents
- Clients can enjoy the benefits of growth and dividends derived from the MF portfolio
What is Loan Against Mutual Funds?
Mutual fund investors can avail credit on their mutual fund investments. Loan against mutual fund units is in the form of an overdraft facility and interest is charged only on the amount taken as credit.