Tata Capital launches digital loan against mutual funds

Customers can avail of quick and hassle free loans ranging from Rs 5 lakes and Rs 2 crores.

Bombay: Tata Capital Ltd, the flagship financial services company of the Tata Group, announces the launch of ‘Loan for Mutual Funds’ (LAMF), the industry’s first end-to-end digital offering. Customers can avail of quick and hassle free loans ranging from Rs 5 lakes and Rs 2 crores.

Tata Capital’s digital loan offering is provided against a wide range of equity and debt programs in mutual funds. The clients can avail the loan amount by scoring a lien on the mutual fund units which are managed by various asset management companies. Backed by technology and analysis, LAMF is a product customized to meet the various fund requirements of the client. The loan amount is personalized based on the value of the mutual fund units and the length of life.

As reported by AMFI, the assets under management of the Indian mutual fund industry have grown from $ 15.18 trillion as of July 31, 2016 to Rs. 35.32 trillion as of July 31, 2021, an increase of more than from 2 to 5 years. Given the exponential growth of this investment category, LAMF is best suited for clients to meet their personal or professional financing needs. More importantly, the client continues to own the mutual fund portfolio and can enjoy its benefits as well. The client does not need to redeem the wallet and only pays interest on the loan amount applied.

The main advantages of Tata Capital’s digital LAMF are:

End-to-end online journey – from integration to disbursement
The loan can be applied as an overdraft facility or as a term loan
Automatic renewal facility available for longer than one year (subject to review of mutual fund portfolio)
The integration process is completed in a few minutes
Marking of online mutual fund privileges via the CAMS API
The service portal includes functionality for disbursement, drawdown, additional pledging and release.
Online document execution
The client benefits from the growth benefits and the dividend received from the MF portfolio

Speaking on the launch of LAMF, Abonty Banerjee, Chief Digital Officer, Tata Capital said, “Mutual funds as an investment category have experienced tremendous growth over the past decade and continue to gain ground. the extent. Our latest digital product gives clients the ability to easily meet their fund needs in a transparent manner, while maintaining control of their portfolio. This is in line with our strategy of constantly offering innovative and practical products for the customer.

Clients applying for mutual fund loans can simply log into https://www.las.tatacapital.com/online/loans/las/apply-now-las-loan

About Tata Capital Limited

Tata Capital Limited, a holistic financial services provider, serves the diverse needs of retail, corporate and institutional clients, either directly or indirectly through its subsidiaries. Its range of offerings includes consumer credit, advisory services, trade finance, infrastructure finance, securities, investment banking, private equity advice, credit cards and corporate finance. travel and currency exchange services. For more information on Tata Capital, please visit www.tatacapital.com.

Publication date : 09-14-21

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