IIFL Finance Loan Against Mutual Funds

IIFL Finance Loan Against Mutual Funds Highlights
Interest Rate	10%-18% p.a.
LTV Ratio	Equity Mutual Funds- Up to 50% Debt Mutual Funds- Up to 80%
Type of loan facility	Overdraft
Processing Fee	0.25%-1%

Rates as of 17th October 2024

Interest Rates for IIFL Finance Loan Against Mutual Funds

IIFL Finance offers Loan Against MF at interest rates starting from 10% p.a. onwards. The interest will be charged only on the amount drawn from the account or the outstanding loan amount.

IIFL Finance Loan Against Mutual Funds Fees and Charges

Particulars	Charges
Processing Fee	0.25%-1%
Prepayment Charges	NIL
Penal Charges	24% p.a.
Cheque Return Charges	As per actuals

Features of IIFL Finance Loan Against Mutual Funds

Purpose: IIFL Finance Loans Against Mutual Funds allows its applicants to finance their personal requirements without liquidating their existing investments.

LTV Ratio: The LTV ratio offered against IIFL Finance Mutual Funds is mentioned below:

Collateral	LTV Ratio
Equity Mutual Funds	Up to 50%
Debt Mutual Funds	Up to 80%

Margin Call Requirement: The eligible overdraft limit reduces with the reduction in the market value of mutual funds pledged as collateral. When the amount used from the overdraft account exceeds the revised eligible limit, the difference between the used amount and eligible amount becomes overdue. In case the borrower fails to repay the overdue amount, the lender may levy penalties and fees on the borrower, and also liquidate the pledged mutual funds to overcome the outstanding loan amount.

Documents Required for Availing IIFL Finance Loan Against Mutual Funds

• KYC documents (address proof and ID proof)
• Bank statement
• Latest audited financial statement
• Income Tax Returns
• Pledged security details