There are various options to consider, when it comes to applying for a loan, especially during financial emergencies. You have Personal Loans, or even Loan against Assets like your Fixed Deposit or your property to consider. Now you can even consider applying for a Loan against Mutual Funds, to satisfy any financial requirements of yours, at any given time.
In the first of its kind, HDFC Bank now offers Digital Loans against Mutual Funds, in partnership with transfer agent CAMS. This product will only be available through CAMS, which covers 65% of the Mutual Fund market and Mutual Fund schemes of 10 fund houses. Through this, you can now pledge your Mutual Fund assets online, and get an overdraft limit set in your HDFC Bank Savings Account.
The benefits of Digital Loan against Mutual Funds include:
No requirement for liquidation of your Mutual Fund portfolio
Instant availability of money in one’s account within 3 minutes
Available against both Debt & Equity MF’s
First time borrowers without credit history can apply
Even more, applying for this loan is easy, as the Loan against Mutual Funds requirement is very simple. As the name suggests, you can easily apply for this loan online, through HDFC Bank website. Therefore, no matter where you reside within the country, so long as you have a steady and secured internet connection and an active access to your HDFC Bank NetBanking access, you can easily apply for the Digital Loan against Mutual Funds.
This process is digitally automated, with the digital LAMF requirements completely simplified. This service allows you to design your own Loan against Mutual Funds. You can easily choose your assets from your portfolio that you would like to pledge and accordingly calculate one’s overdraft limit eligibility. If you don’t have an existing Savings Account, you can easily open a new one online, and get the money deposited in the account, all in a matter of minutes.
To apply for HDFC Bank Digital Loan against Mutual Funds online, you only need to:
Log into myCAMS via HDFC Bank NetBanking.
Select the Mutual Funds to pledge from your profile
Click on the loan terms and conditions
Input One Time Password (OTP)
Wondering if you are eligible to get a Digital Loan Against Mutual Funds? Click here to know who can apply. Getting a loan has never been easier. Apply for Digital Loan against Mutual Funds now!
* Terms & conditions apply. Loan disbursal at sole discretion of HDFC Bank Ltd. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.
