Now get loan against Mutual fund from HDFC bank through Online – HDFC bank is now offering overdraft/loan facility pledging their Mutual fund under online mode. Check out the step by step process to get the Digital Loans against Mutual Funds (LAMF) by HDFC Bank. Customer may get the credit from the bank instantly.
What are the requirements for availing the HDFC Bank’s LAMF ?
1. HDFC Account holders with Online Banking facilities
2. This facility is available for resident Indians only
3. Must be having portfolios that are individual holdings and recorded with CAMS.
4. Customers holding assets in at least one of the ten mutual fund houses registered with CAMS
Step By Step process to avail Loan against Mutual Fund:
1. Log in to myCAMS via HDFC Bank website and select the mutual funds you would like to pledge from your portfolio.
2. Accept the loan terms and conditions.
3. An One Time Password (OTP) will be sent on registered mobile number
4. Instant Credit of loan amount/overdraft in HDFC bank account.
Option Steps :
1. Customers can design their own loan against mutual fund
2. You can choose which assets from their portfolio they would like to pledge
3. Calculate your overdraft limit eligibility against mutual fund
4. Open a Saving/current account online instantly and get the money into the account; all in a matter of minutes.
What are the Benefit of HDFC Bank’s Digital Loans against Mutual Funds (LAMF)
1. Loan can be availed instantly under online mode.
2. HDFC Bank’s Digital LAMF is available against both debt & equity mutual funds.
3. No need to liquidate the mutual fund portfolio. Customers can retain mutual fund portfolios.
4. No CIBIL requirement, even first-time borrowers without credit history can also access loans.
5. Overdraft facility – It means interest is applied only on the amount utilized.
6. The facility is available across the country on HDFC Bank website
7. Renewal/New Loans and Enhancements can be done online.
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