Mutual funds are one of the preferred mediums of wealth creation. But, are you aware that when you are in urgent need of money you can even avail a Loan Against your Mutual Funds?
So if you have Mutual Funds and yet worrying about meeting your unplanned expenses? Explore the potential of your investment and apply for Loan against Mutual funds from the comfort of your home!
Loan Against Mutual Funds is a complete digital and paperless process by which you can lien your mutual funds registered with Computer Age Management Services Limited (CAMS) online to avail an instant credit limit in your account. Funding can be availed against approved equity and debt mutual funds. This facility is currently available for a set of ‘pre-qualified’ individual customers who have been maintaining mutual funds registered with CAMS.
| Description Of Charges | Charges |
|---|---|
| Attractive ROI | Attractive ROI |
| Processing fees: | There is no processing fee if the loan is seeked through Digital journey. |
| Prepayment Charges | Nil |
GST applicable as per the prevailing rates will be charged in addition to the charges.
Now you can Loan Against Mutual Funds a few simple stesp and through online process that is totally hassie-free. It's simple. It's quick. Here's what you need to do:
We recommend keeping your Aadhar Card, Bank Account & depositary participant (NSDL only) details handy while applying, for a smoother experience.
click here to check eligibility
The minimum amount is Rs. 75K and the maximum can go up to Rs. 2 cr in case of mutual funds done digitally. For offline accounts maximum credit of Rs. 40 Cr can be availed basis necessary approvals.
Loan up to 50% of the Net Asset Value (NAV) in case of equity mutual funds and up to 70% in case of debt mutual funds.
Interest is calculated on daily outstanding balance and charged on last working day of the month in normal course.
Customer needs to follow lien mark process before lien marking.
CAMs Registration Process:
Step 1: visit the myCAMS official website www.camsonline.com
Step 2: click 'New User Registration' and generate a user id.
Step 3: enter your email id and the captcha image code on the new page opened.
Step 4: once the registration is successful, a confirmation message will be displayed on the screen.
Lien mark happens approximately in 30 minutes and revocation takes approximately 6-7 working days.
Yes you can, based on your additional pledging via process called enhancement.
The interest automatically gets deducted via E-NACH registered with your bank account on 3rd of next month*. Customer can also pay the interest via Tata Capital Website or Tata Capital application on or before 3rd of each month.
*Customers are requested to maintain adequate balance in the E-NACH registered bank account on 3rd of the month to avoid any bounce charge or penalty.
Client need to have PAN Card and Valid mobile number linked to his/her aadahar card.
It will be through your Aadahar card, verified through OTP on your registered mobile number.
The email id which is linked with the MF units against which lien to be marked.
NO. You will only see the scrips which are linked with the combination of PAN and email id you have used while registration.
ONLY Individual holdings or Either-or-survivor holdings of mutual funds can be lien-marked. MFs held in Joint account can’t be lien marked.
Aadhar based OTP shall have needed to do KYC and enabling the digital signatures of user.
ONLY Individual savings account or Either-or-survivor savings account. Joint account can’t be used.
Repayment can be done through customer portal available via netbanking
The loan amount will get credited in the NACH registered bank account and will be credited on the same day.
There is no processing fees if the loan is seeked through Digital journey.
Renewal fees – Higher of 0.25% of sanction or Rs1000+GST*
*Corresponding Relationship manager to notify
Loan Bucket Rate of Interest
Invest
