How to Avail a Loan Against Mutual Funds

11/03/2024 Financial & Legal Services

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First, check if your mutual fund allows loans against it. Not all funds offer this option. Next, contact your mutual fund provider to inquire about their loan policies. They will provide you with details such as the loan-to-value ratio (LTV), interest rates, and other terms. Submit the required documents, which typically include KYC documents, proof of investment in mutual funds, and any other documents specified by the lender. Review and agree to the terms and conditions of the loan, including the interest rate, repayment schedule, and penalties for default. Pledge your mutual fund units as collateral for the loan. Receive the loan amount, which can be credited to your bank account or provided as a demand draft, depending on the lender's procedures. Repay the loan as per the agreed-upon schedule. To know more visit: abhiloans.com

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