Loan Against Mutual Funds
5paisa Research Team
Last Updated: 19 Jun, 2024 10:36 AM IST
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Content
- What is a Loan Against Mutual Funds?
- Who can apply for a Loan Against Mutual Funds?
- How Does Loan Against Mutual Funds Work?
- Benefits of Taking a Loan Against Mutual Fund
- Documents are required to apply for a Loan Against Mutual Funds
- How to Apply for Loan Against Mutual Funds?
- Demat accounts Difference Between Loan Against Mutual Funds & Personal Loan
- Conclusion
Unlike traditional personal loans that are based on your credit history and income LAMF or Loan Against Mutual Funds uses your mutual fund investments as collateral. This means you can borrow money without selling your investments allowing you to keep your long term investment plans unchanged.
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Frequently Asked Questions
Charges for a Loan Against Mutual Funds include interest rates and possibly prepayment fees, varying among lenders.
No, there are no tax benefits on a Loan Against Mutual Funds. It's treated as any other loan for tax purposes.
No, there are usually no prepayment charges for repaying a loan against mutual funds early.
Tenure of a Loan Against Mutual Funds ranges from one to three years depending on the lender's terms.