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Bajaj Finance Loan Against Mutual Funds Highlights |
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| Interest Rate | Up to 20% p.a. |
| Loan Amount | Up to Rs 1,000 crore |
| LTV Ratio | Up to 90% |
| Tenure | 7 days to 3 years |
| Type of Loan Facility | Credit Limit (similar to overdraft facility) |
| Processing Fee | Up to 4.72% of loan amount |
Rates as of 17th October 2024
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Bajaj Finance Loan Against Mutual Funds Interest Rate
The interest rates for Bajaj Finance Loan Against MF can go up to 20% p.a. The interest is charged only on the amount utilized from the overdraft account or the outstanding loan amount.
Bajaj Finance Loan Against Mutual Funds Fees and Charges
| Particulars | Charges |
| Renewal Charges | Up to 1.18% on the sanctioned amount |
| Processing fee | Up to 4.72% of the loan amount |
| Prepayment Charges (Part/Full) | Up to 4.72% |
| Bounce charges | Rs 1,200 per bounce |
| Brokerage charges | As applicable at actuals |
| Pledge invocation charges | As applicable at actuals |
| DP charges | As applicable at actuals |
| Legal charges | As applicable at actuals |
| Pledge confirmation charges | As applicable at actuals |
| PG facility charges | Rs 11 |
| Demat share transfer charges | As applicable at actuals |
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Features of Bajaj Finance Loan Against Mutual Funds
Purpose: Bajaj Finance Loan Against Mutual Fund allows the salaried and self-employed individuals to meet their personal requirements against their mutual funds. The lender also offers Loan Against Mutual Funds to HUF/Limited Liability Partnership/Partnership Firms/Corporates/Sole Proprietorship/Trusts.
Loan Amount: Bajaj Finance offers Loan Against Mutual Funds for loan amount of up to Rs 1,000 crore depending on the LTV ratio set for the pledged mutual fund schemes.
LTV Ratio: The LTV ratio offered against mutual funds is up to 90% of the market value of funds.
Loan Tenure: Bajaj Finance offers Loan Against Mutual Funds for tenure of 7 days to 3 years.
Margin Call Requirement: A drop in the mutual fund value pledged as collateral reduces the eligible overdraft limit. If the amount used from the overdraft account is more than the revised eligible limit as per the sanctioned LTV ratio, the difference between the eligible limit and the utilized amount will be overdue. The borrower will have to make the overdue payment or pledge additional funds to maintain the LTV ratio throughout the tenure. If the borrower fails to repay the overdue amount with the stipulated time Bajaj Finance has the authority to sell the pledged mutual fund units.
Bajaj Finance Loan Against Mutual Funds Eligibility Criteria
- Applicants should be Indian nationals between the age group of 18 to 90 years.
- Salaried and self-employed individuals are eligible for Bajaj Finance LAMF.
- Corporates/Limited Liability Partnership/Sole proprietorship/HUF/Partnership Firms/Trusts can also avail offline Loans Against Mutual Funds through Bajaj Finance.
- Minimum portfolio value should be Rs 50,000.
Facing Cash Crunch? Get funds without selling off your Mutual Fund Apply Now
Documents Required for Availing Bajaj Finance Loan Against Mutual Funds
- KYC documents- Aadhaar card, passport, voter ID
- PAN card
- Account statement
FAQs
How do I avail mutual fund loans from Bajaj Finance?
You can avail Bajaj Finance Loan Against Mutual Funds through the official website of Bajaj Finance. The lender also provides offline loans to corporates/partnership firms/sole proprietorship/HUF/LLP Trusts. Applicants can also apply for Bajaj Finance LAMF through online marketplace like Paisabazaar.
Can I prepay or foreclose my mutual fund loan availed from Bajaj Finance?
Yes, you can prepay or foreclose your Bajaj Finance Loan Against Mutual Fund before the end of the loan tenure. The lender levies a prepayment fees of 4.72% on the outstanding loan amount.
What is the frequency of making interest payments for Bajaj Finance Loan against MF?
Borrowers can pay the interest for Bajaj Finance Loan Against Mutual Funds on a monthly basis.
Do I have to pay interest on the total sanctioned limit of my Bajaj Finance LAMF?
The borrowers have to pay the interest only on the amount withdrawn from the sanctioned limit, i.e. the outstanding loan amount, and not on the total sanctioned limit of Bajaj Finance LAMF.
What is the interest cycle followed by Bajaj Finance for its mutual fund loans?
Bajaj Finance calculates the interest cycle from the 7th day of every month to the 6th day of the succeeding month. The due interest amount for loan against mutual fund is debited to the loan account on the 7th of every month.
Does Bajaj Finance offer loan against the mutual fund schemes of all Asset Management Companies (AMCs)?
Bajaj Finance offers loan against the mutual funds schemes of all Asset Management Companies registered with CAMS (Computer Age Management Services) and K-fin Technology (Registrar).
When can I release my pledged mutual fund units from Bajaj Finance?
You can release your pledged mutual fund units provided you have excess withdrawable funds available in the account. The lender processes such requests after verification within a minimal time.
What are the eligible mutual funds for Bajaj Finance Mutual Fund Loans?
Bajaj Finance offers loan against 5000+ approved mutual fund schemes. Applicants can click here to check the list of approved mutual funds for availing mutual fund loans from Bajaj Finance.