EMI Calculator

Interest Type

Loan Amount

₹

Interest Rate

%

Loan Tenure

Mo
Loan Amount₹100,000
Interest %8 %
Tenure (months)12
Emi (monthly)₹ 8,699
Total Interest₹ 4,386
Loan Amount + Interest₹ 104,386
YearTotal Principal
( A )
Total Interest
( B )
Balance
( A + B)
Total Payment Loan Paid Till Date (%)
₹ 74,250₹ 4,041₹ 78,291₹ 25,75074.25 %
Apr₹ 8,032₹ 667₹ 8,699₹ 91,9688.03 %
May₹ 8,086₹ 613₹ 8,699₹ 83,88216.12 %
Jun₹ 8,140₹ 559₹ 8,699₹ 75,74224.26 %
Jul₹ 8,194₹ 505₹ 8,699₹ 67,54832.45 %
Aug₹ 8,249₹ 450₹ 8,699₹ 59,29940.70 %
Sep₹ 8,304₹ 395₹ 8,699₹ 50,99549.00 %
Oct₹ 8,359₹ 340₹ 8,699₹ 42,63657.36 %
Nov₹ 8,415₹ 284₹ 8,699₹ 34,22165.78 %
Dec₹ 8,471₹ 228₹ 8,699₹ 25,75074.25 %
₹ 25,752₹ 345₹ 26,097₹ 0100.00 %
Jan₹ 8,527₹ 172₹ 8,699₹ 17,22382.78 %
Feb₹ 8,584₹ 115₹ 8,699₹ 8,63991.36 %
Mar₹ 8,641₹ 58₹ 8,699₹ 0100.00 %
01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.

Types of Loan Against Security

Address all your emergency needs without falling into debt

When you want to borrow money for your business or to buy a car, you might consider taking out a loan against security. This can be useful when you have valuable assets that can increase in value over time. Let’s look at the options people have when we talk about Loan Against Security.

  • 01

    LOAN AGAINST SHARES

    Getting a loan is now simpler and more acceptable than ever, whether it's to cover financial crises or achieve specific short- or long-term goals. However, because there is such a strong demand for loans, they come with exorbitant interest rates, which prevent many individuals from accessing and paying them. A loan against shares is a practical alternative that can help you obtain a loan and maximize your share market assets if you need to borrow money but do not want to put your actual belongings in jeopardy. This Loan Against Shares concept is viable if you have a bad credit score or want more security on your loan.

  • 02

    LOAN AGAINST MUTUAL FUNDS

    There are times in life when you could encounter unanticipated financial difficulties, such as medical emergencies, family bills, etc. There is frequently a pressing need for cash or use your savings in such circumstances. Even in these circumstances, there are better lending alternatives. One option is to take out a loan against your mutual funds. You can avoid cashing out or redeeming your investments by obtaining a loan against mutual funds. Loans secured by securities allow you to raise the money you need swiftly. Depending on the length of the loan, interest is assessed on the amount used. Depending on the bank and tenure, interest rates on loans secured by mutual funds will range from 7 to 15% per year. You may get loan against mutual funds from banks and NBFCs in India.

Key Feature of Loan Against Share
  • The loan value is a percentage of the market value of shares held in Demat form.
  • Securities eligible for a loan against shares are – equity shares, preferential shares, ESOPs , and any other form of equity.
  • Generally, the loan value is 50-60% of the equity amount, but it can go up to 80%
  • Repayment flexibility is available on these loans.
  • 9-18% is India's usual loan against shares interest rate.
  • You can pre-close a loan without any prepayment charge.
  • In the event of default, the underlying shares will be sold off to settle the loan.
Key Feature of Loan Against Mutual Funds
  • If you apply for a loan on mutual funds, you can only secure a limited amount as loans against mutual funds have upper limits.
  • The minimum limit for loans against mutual funds is Rs. 5 lakhs, and the maximum is Rs. 2 crores.
  • The interest rate for loans against securities starts at 10.5%.
  • Eligibility – Debt and equity funds are eligible for a loan.
  • When you take a loan against mutual fund units, these mutual fund units stay invested in the market. The banks can sell the mutual funds only in case of a default in payment.
  • Loans are available to customers with no or bad credit history.
  • he loans on mutual funds will be processed instantly. Funds will be available within minutes in your bank account.
Keep the Right Documents by Your Side for a Smoother Process

Required Documents for a Loan Against Security

KYC of an applicant consist of the following documents

PAN Card

Aadhaar Card

Driving Licence

Voter ID

Passport

Registered rent agreement

Current passport size photograph

CAMS-linked mutual fund units

ID of CAMS and you’ll now qualify for a loan with low CIBIL

Salaried income documents

Self Employed person documents

Salaried income documents

  • Last 3 months' salary slip
  • Form 16 of last 2 years
  • Income Tax Return if any of last 2 Years
  • Last 3 months' bank statement if the salary directly credited in the bank account
  • Certificate of employment from current employer

Self Employed person documents

  • Income tax returns of previous 2 years
  • Statement of finances with a proper balance sheet with profit and loss in that sheet
  • Bank statement with continuity of business
  • GST registration evidence of business
Loan Against Security

Fees and other charges are regarded Loan Against Security

Application fee

To cover all the preliminary expenses that lenders incur for conducting the verification, application fees are charged.

Processing Fee

It covers the cost of credit appraisal, which is dependent on a borrowers’ credit profile, income, and the home loan scheme. Processing fees are not always levied by all lenders.

Administrative fee

The administrative fee levied by lenders is split into two parts- the part charged after the loan sanction, and the part which is known as the administration fee.

Repayment Mode Related Charges

When a borrower requests their lenders to change their existing repayment mode during the loan tenure, there is usually a fee associated with it. This fee can range from Rs. 500 to Rs. 1,000 per instance (swap).

CERSAI charges

The CERSAI website is a central online security interest registry in India that allows potential lenders to check whether the pledged property is not claimed by some other lender.

Legal fee

When a lender engages a firm to scrutinize borrowers’ legal documents, they may charge a legal fee as part of the processing fee.

Leave Your Question

FREQUENTLY ASKED QUESTIONS

Indeed, a loan against MF is a better option than personal loans as it has fewer eligibility requirements, needs no credit score, and is easy to repay.

A lien is a legal document that grants the bank the authority to sell or hold the money. As a result, by signing a claim in the bank's name, you transfer ownership of the fund units you possess to the bank. Each unit owner must sign the letter requesting the lien transfer.

Many online portals will rapidly approve loans if you have approval in advance and have units in the Demat form. You can always give a heads up to referloan for getting a loan against MF.

A release request form must be filled out in order to release the securities after the loan has been repaid. The entire process may be different depending on the banking institution.

Yes, you can make partial or early payments on the loan as long as you do so within the allotted time. Part payments and early payments are not subject to fees.

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