Best platform/apps for loans against mutual funds and other securities

[Anurag]

Please share your experiences or knowledge for paperless loans against mutual funds, FDs and all.
Want to know which platform is best for the same and has the best terms.

 

[Knab]

For best platform for loan against mutual funds and other securities you can check out https://abhiloans.com/

 

[Manav24]

I have a Loan against mutual funds from Mirae Finance, OD limit with 10.5% on amount withdrawan, Rs999/- processing and renewal fee.

 

[sjasani]

You can look at YenMo too. It is a new YC funded startup

 

[Manav24]

Generally, tradtional lending system could be difficult to avail loans but searching for online platforms could be easier and less cubersome with lesser requirements. Creditsea is one such great, seamless and efficient platform which offers loans online with minimal formalities and online process with instant approval. To know your credit limit and to check your eligibility visit their website at https://www.creditsea.com/

Why are you spamming the same website on multiple topics?

 

[amitr29]

You can try Smallcase, they also offer loans against MF at10.75%. Even your existing bankers can do it for you

 

[thestockbull]

Please share your experiences or knowledge for paperless loans against mutual funds, FDs and all.
Want to know which platform is best for the same and has the best terms.

For loan against mutual funds,
1) abhi loans
Provides personal loan as well as overdraft against stocks or mutual funds. Rs15,000 loan minimum.
2) voltmoney:
Provides overdraft against mutual funds. Rs25,000 minimum loan.
3) Fundsindia:
Overdraft against stocks or mutual funds. Rs10,000 minimum loan.
4) mirae assets:
Overdraft against mutual funds (and maybe stocks too). Rs10,000 loan minimum.
5) axis (25k minimum), hdfc (25k minimum), indusind (2lakh minimum), all banks provide it.
6) zerodha capital:
Accept stocks or mutual funds and provide overdraft against it. Rs25,000 minimum loan amount.

Mutual funds need to be with CAMS or Kfintech account because 'demat based mutual funds' most companies do not accept.
If you have stocks or mutual funds in your demat account with broker then you need to ask above mentioned companies whether they accept it or not (most won't accept CDSL demat accounts but accept NSDL demat account).

You will in general get 50% loan against stocks or equity mutual funds and 85% loan against debt mutual funds. 50% limit is checked daily. If you fall short, they will ask you to pay/add some amount to maintain 50% limit (after market falls). If you don't add extra amount then they will sell some of your stocks or mutual funds to make it 50%.


Most of them are resellers of Mirae assets loan service..

 

[drmsiva]

I use HDFC - it is good - gives a OD with current account and so only pay interest on the amount used. They also revise OD upwards when the value of funds increase over time on a weekly basis.

 

[Manav24]

I use HDFC - it is good - gives a OD with current account and so only pay interest on the amount used. They also revise OD upwards when the value of funds increase over time on a weekly basis.

What is the interest rate being Charged?

 

[drmsiva]

Between 10 and 11.5% - I have LAS both against debt and equity funds.

 

[Manav24]

Between 10 and 11.5% - I have LAS both against debt and equity funds.

What is the IR for equity Mutual funds? Mirae is charging me 10.5%.