Fibe Loan Against Mutual Fund
Fibe loan against mutual funds (LAMF) can be availed of and used just like a personal loan. You can get up to Rs. 10 Lakhs against the value of your mutual funds instantly in just 10 minutes at an affordable interest rate starting at just 11% p.a. This secured loan gives you the flexibility of paying interest only on the amount used. A processing fee of Rs. 399 or 1.5% of the loan amount whichever is lower.
Fibe Loan Against Mutual Fund Details
The key details of the Fibe loan against mutual fund are:
| Loan amount | Rs. 15,000 to Rs. 10 Lakhs |
| Loan-to-value | Up to 80% of a mutual fund’s value |
| Interest rate | 11% p.a. onwards |
| Processing fee | Rs. 399 or 1.5% of the loan amount Whichever is lower |
| Flexi repayment option | upto 6 months, pay interest only |
| Foreclosure charges | Nil |
| Disbursal TAT | 10 minutes |
| Minimum investment value of mutual fund units required | Around Rs. 25,000 |
| Age | 19 to 65 years |
Benefits of Fibe Loan Against Mutual Fund
The key benefits of availing of a Fibe loan against mutual fund are:
- It is a smart way to get instant funds without selling your mutual fund investments.
- A loan against mutual funds is a flexible and cost-effective solution
- You can unlock instant cash from over 8,000 mutual fund schemes
- Pay interest only on the amount you use.
- Interest rates are affordable and start from just 11% p.a., often lower than traditional loans.
- Flexi repayment option upto 6 months.
- Depending on the type of fund, Fibe usually offers a secured loan of 80% of your mutual fund’s value.
- Hassle-free loan application process with minimal paperwork.
- Get the approved loan amount disbursed to your bank account in just 10 minutes.
- Your invested mutual funds will continue to generate returns, even if you use the loan amount.
Interest Rate of Fibe Loan Against Mutual Fund
Fibe loan against property interest rates are often lower than traditional loans. The interest rate of a Fibe loan against mutual fund starts from just 11% per annum. The interest rate is charged on reducing principal balance interest calculation method.
Fibe Loan Against Mutual Funds Calculator
Fibe loan against mutual funds calculator online can be used to easily calculate your monthly interest for the instant cash loan. The tool gives you accurate information in a jiffy. It is useful to calculate the EMI before applying for the loan to assess your loan eligibility and plan your budget accordingly.
Fees & Charges of Fibe Loan Against Mutual Fund
Following are the fees and charges involved in getting a Fibe loan against mutual fund:
- Processing fee: Rs. 399 or 1.5% of the loan amount, whichever is lower.
- Penal interest for delayed payments: Additional 2% to 3% per month on the amount overdue
- Lien marking charges: Rs. 500
- Stamp duty: As per the state laws & regulations (included in the processing fee)
- Foreclosure charges: Nil
- Documentation charges: Not applicable
Eligibility Criteria for Fibe Loan Against Mutual Fund
Below are the eligibility criteria for a Fibe loan against mutual fund:
- Age: Applicants must be between 19 and 65 years old.
- Nationality: Applicants must be Indian residents.
- Ownership: Holdings must be held by the applicant.
- Minimum in-hand monthly salary: No minimum salary required! Anyone can apply, your overall portfolio should be ₹25,000 or more.
- Minimum investment: The minimum value of mutual fund units required is around Rs. 25,000.
- Type of mutual funds: Fibe generally accepts equity and debt mutual funds.
- Ineligible funds: Demat-based, ELSS/ tax saver (lock-in period), already pledged, and joint holding funds are not eligible.
- Type of funds: Funds should be CAMS/ KFIN-based.
- KYC compliance: As per SEBI regulations, the applicant must be KYC compliant.
- Lender-specific criteria: Additional eligibility criteria may vary depending on the lending institution.
Document Required for Fibe Loan Against Mutual Fund
Documents required to apply for Fibe LAMF are:
- PAN details
- Aadhaar card
Fibe Loan Against Mutual Fund Customer Care
You can contact Fibe Loan Against Mutual Fund Customer Care by:
- Calling at: 020-67639797
- Sending email to: care@fibe.in
- Writing a letter to: Fibe at 404, The Chambers, Viman Nagar, Pune -411014.
FAQs
A loan against mutual funds is a credit type that uses a borrower’s mutual fund units as collateral. It is a way to get instant funds without selling your investments.
Fibe offers loans against most standard mutual funds held through CAMS/ KFIN, but certain types like ELSS (tax saver) funds with lock-in periods, demat-based, already pledged funds, or joint holdings are not eligible for a Fibe loan against mutual funds.
Fibe offers loans against mutual funds up to Rs. 10 Lakhs.
No, there are no hidden fees for Fibe's mutual fund loan.
- Smart way to get instant funds without selling your mutual fund investments.
- Flexible and cost-effective solution.
- Instant cash available against 8,000+ mutual fund schemes
- Pay interest only on the amount you use.
- Affordable interest rates starting from just 11% p.a.
- Flexi repayment option from 6 to 36 months.
- Hassle-free loan application process.
- Minimal paperwork.
- Get disbursal in just 10 minutes.
- Your invested mutual funds will continue to generate returns, even if you use the loan amount.