Mirae Asset
Mirae Asset Financial Services introduces a groundbreaking financial solution – Loan Against Mutual Fund (LAMF), providing swift access to liquidity within a mere 15 minutes.
Loan Details
Mirae Asset caters to diverse financial needs with a maximum loan amount of ₹1,00,00,000 for Equity Mutual Funds and ₹3,00,00,000 for Debt Mutual Funds. The minimum loan amount is set at ₹10,000. These loans are facilitated at a competitive interest rate of 9% per annum on the utilized amount, ensuring affordability for borrowers.
RBI Approval and Instant Disbursal
With approval from the Reserve Bank of India (RBI), Mirae Asset’s LAMF stands as a reliable and secure financial instrument. The process is designed for instant disbursal, ensuring that borrowers can meet their urgent financial requirements with ease.
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Loan Tenure and Processing Charge
The loan tenure is set at 12 months, providing borrowers with a reasonable timeframe for repayment. Charges a fixed processing fee of ₹999, making the borrowing process transparent and cost-effective.
Eligibility Criteria
To avail this financial solution, individuals must meet certain criteria. Applicants should be residents of India, aged between 18 and 75 years, possess a PAN card, Aadhaar card, and a valid bank account. Additionally, borrowers must hold mutual funds approved under it’s Financial Services’ policy with CAMS and Kfintech (RTAs).
Conclusion:
Mirae Asset’s Loan Against Mutual Fund emerges as a transformative financial tool, offering swift access to funds, competitive interest rates, and a borrower-friendly structure. This product aligns with the evolving financial needs of individuals, ensuring that they can leverage the value of their mutual fund investments effectively.
