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Kochi: Geojit Credits, a Non-Banking Financial Company, has announced the launch of ‘Loan Against Mutual Fund’ (LAMF). Investors can avail of quick and hassle-free loans starting from Rs. 10,000 in 100% digital mode.

MF investors are often forced to redeem their investments for instant liquidity and meet their short-term requirements. A loan against mutual funds allows investors to raise instant funds at attractive interest rates for their short-term liquidity requirements by keeping their mutual fund investments as collateral. With Geojit Online Credits Facility, investors can avail of a loan against mutual funds with instant disbursal from the convenience of their home. Investors will retain the ownership of their mutual funds and earn returns on them, but they cannot redeem the units till the loan is closed.

Investors can avail the loan anytime, and the loan amount will be credited to their registered bank account within a few hours. Investors can repay their loan amount without incurring any prepayment or foreclosure charges. Geojit Credits’ loan against mutual funds interest rate starts from just 8.99% per annum. The interest would be charged only on the amount utilised by investors and for the loan duration.

Speaking on the launch of LAMF, Bejoy Anthraper Business Head of Geojit Credits said, “The need for short-term liquidity of money is growing as demand is picking up and digital transactions are expanding rapidly. Our newest product, digital Loan Against Mutual Fund will be of great help to investors who can avail loans at competitive rates and not redeem their MF investments, which is part of their long-term wealth creation and investment plan.”

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