Mutual Fund Loan: People take loans to meet their financial needs. Loan can be taken from banks or institutions as per the requirement. Along with this, loans can also be taken while investing in government schemes. Loans can be claimed from government schemes to mutual funds as well. However, if you are taking a loan from mutual funds, then you should know everything about it.
On taking a loan from mutual funds, you are charged from processing fees to interest. Loan can be availed by Individual Investor, NRI, Company, HUF, Trust and other Mutual Funds. Minors are not given loans under mutual funds. The tenure and interest rate on the loan amount of the bank or financial institution is decided by the bank. Also, the loan amount depends on the credit score and other factors.
How much loan can be taken
In equity mutual funds, up to 50 percent of your total asset value can be given as a loan. On the other hand, loan on fixed income in mutual funds can be taken up to 70 to 80 percent of the total asset value.
How can I take loan on Mutual Fund?
Like other loans, you can also take a loan on mutual funds from a bank or institution. Many companies or banks provide online loan facility. By applying for the loan online, you can get instant approval and withdraw the loan amount from your account after a few days.
News Reels
how much will be the charge
The charges on this loan are less as compared to personal loan and taking this type of loan is also considered cheaper. In this, you also have to pay less processing fees. Whereas on the contrary, you will have to pay more processing fee on personal loan. In some cases the processing fee and other charges can also be waived off.
Be the first to read breaking news in Hindi aajsamacharindia.com| Today’s latest news, live news updates, read most reliable Hindi news website aajsamacharindia.com|
Like us on Facebook or follow us on Twitter for breaking news and live news updates.
