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Geojit Credits, a non-banking financial company, announced the launch of ‘Loan Against Mutual Fund’ (LAMF). Investors can avail a hassle-free loan, starting ₹10,000 via digital mode.
The MF investors are often forced to redeem their investments for instant liquidity and meet their short-term requirements. A loan against mutual funds allows investors to raise instant funds at an attractive rates to meet their short-term requirements. With Geojit Online Credits Facility, investors can avail instant loan from the convenience of their home by retaining the ownership of their MF holdings and earn returns on them. However, they cannot redeem the units until the loan closure.
Investors can avail loan anytime starting at 8.99 per cent per annum, and the disbursal would be credited to their registered bank account. Investors can repay without incurring any prepayment or foreclosure charges. The interest would be charged only on the amount utilised by investors and for the loan duration.
Bejoy Anthraper, Business Head of Geojit Credits said, “The need for short-term liquidity of money is growing as demand is picking up and digital transactions are expanding rapidly. Our newest product, digital Loan Against Mutual Fund will be of great help to investors who can avail loans at competitive rates and not redeem their MF investments, which is part of their long-term wealth creation and investment plan.”
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