Is there an option to make prepayment?
Yes, you can prepay your loan as per your convenience without any charges.
How will disbursement take place?
An overdraft account will be set up with MAFS. This account will have a certain drawing limit, which you can utilize as and when required. Drawing limit depends upon the eligible LTV and value of the mutual fund unit’s pledge/ lien by you.
What is the purpose of Loan Against Securities?
The purpose of Loan Against Securities is to take care of all your short-term and medium-term financial needs and to help you meet your contingencies.
Will the functionality work if the customer is not registered with myCAMS?
Once the customer logs in to MAFS mobile application, completes KYC and gets navigated to myCAMS page, we pass on the PAN and the e-mail ID registered with us with customer’s permission. Basis the information, myCAMS will check for registry details ...
What is the loan tenure?
The facility is provided for one year and gets renewed, basis satisfactory performance of the account, after one year. In case customer does not wish to renew the facility, he/she needs to place a request for closure of the account prior to renewal.