Mumbai: Tata Capital Ltd, the flagship financial services company of the Tata Group announces the launch of ‘Loan Against Mutual Funds’ (LAMF), an industry-first end-to-end digital offering. Customers can avail of quick and hassle-free loans ranging from ₹5 lakh and ₹2 crore.
Tata Capital’s digital loan offering is provided against a wide range of equity and debt schemes across mutual funds. Customers can avail of the loan amount by marking a lien on the mutual fund units which are managed by various asset management companies. Backed by technology and analytics, LAMF is a personalized product to meet the diverse fund requirements of the customer. The loan amount is customized based on the value of the units in the mutual fund folio and tenure.
Speaking on the launch of LAMF, Abonty Banerjee, Chief Digital Officer, Tata Capital said, “Mutual funds as an investment category has shown tremendous growth over the last decade and continues to gain momentum. Our latest digital product gives customers an opportunity to easily meet their fund needs in a seamless manner, even while retaining control over their portfolio. This is in line with our strategy of constantly offering innovative products which offer customer convenience.”
The key benefits of Tata Capital’s Digital LAMF are:
End-to-end online journey – onboarding to disbursement
The loan can be applied as an overdraft facility or as a term loan
Auto-renewal facility available for a tenure exceeding one year (subject to review of the mutual fund portfolio)
The onboarding journey is completed within minutes
Online lien marking of Mutual Funds via CAMS API
The service portal comprises features for disbursement, drawdown, additional pledging and de-pledging.
Online execution of documents
The customer enjoys the benefits of growth and dividend received from the MF portfolio
How to apply
1) Customers applying for Loans Against Mutual Funds can simply log on to https://www.las.tatacapital.com/online/loans/las/apply-now-las-loan
2) Now, there are two options- new and Existing customers
3) New customers need to fill in their name, and other personal details like date of birth, PAN, Aadhaar, email id etc.
4) After you input all your details, now press on ‘Submit’.
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