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Loan Against pledge of Mutual Funds

Loan Against pledge of Mutual Funds

Are you in urgent need of funds? But do not want to liquidate your mutual fund investments? Want to pass on your mutual fund investment to your legal heirs as inheritance? We have a solution. ISFL provides loan against pledge of mutual funds held by you. While you continue to enjoy appreciation on your mutual fund units, you can pledge it for raising funds quickly.


Features
  • Loans available against pledge of Equity Mutual Funds .
  • Loan period upto 36 months
  • Loan up to 50% of the value of the Mutual Funds pledged
  • Loans from Rupees Five lakhs
  • No restrictions on end use of borrowed funds (except for speculative purposes or purposes prohibited by law)
  • Dividend on mutual funds received directly by you.
  • Flexible repayment options
  • Interest Charged only on amount utilised
  • Disbursement can be availed in tranches
  • Competitive Interest rate
  • Minimum Documentation

All loans of ISFL are subject to internal policies and guidelines of ISFL framed from time to time. As such For LAS

Eligibility
  • Any resident individual between the age group of 18 to 75 can apply for the loan
  • Private/ Public limited companies registered in India with a minimum of 3 years in existence.
Fees & Charges

The loans of ISFL are attractively and competitively priced. ISFL charges a minimum processing fee upto 1% of the loan amount (plus applicable GST).

Documents Required for sanction:

    minus    I) Retail Individual for credit limit upto Rs. 20 Lakh

  • Self-attested copy of PAN Card and Address proof .The same set needs to be collected for co- borrower/ guarantor wherever applicable.
  • Postdated Cheque/ Nach/ENach for the Loan sanction amount in favour of ISFL.
  • Acknowledgment of Loan Sanction letter with Terms and Condition
  • Loan Agreement complete in all respects.
  • Any other documents as ISFL may deem necessary

    minus    II) Retail Individual for credit limit above Rs. 20 Lakh and upto Rs. 2 Crores

  • Self-attested copy of PAN Card & Address proof of the borrower. The same set needs to be collected for co-borrower/ guarantor wherever applicable.
  • Self-attested 3 months Bank Account Statement (Self Attested) of the borrower. The same set needs to be collected for co-borrower/ guarantor wherever applicable
  • Postdated Cheque/ NAch/ ENach/ ECs for the Loan sanction amount in favour of ISFL
  • Acknowledgment of Loan Sanction letter with Terms and Condition
  • Loan Agreement complete in all respects.
  • Any other documents as ISFL may deem necessary

    minus    III) Retail Individual for credit limit above Rs. 2 Crores

  • Self-attested copy of PAN Card & Address proof of the borrower. The same set needs to be collected for co-borrower/ guarantor wherever applicable
  • CA certified latest Networth Certificate. The same set needs to be collected for co-borrower/ guarantorwherever applicable
  • Latest 1 Years IT Return / Form 16 of the borrower. The same set needs to be collected for co-borrower/ guarantor wherever applicable
  • Latest 12 months Bank Account Transaction Statement (Self Attested) of the borrower. The same set needs to be collected forco-borrower/guarantor wherever applicable
  • Undated Cheque/E Nach/Nach for the Loan sanction amount in favour of ISFL
  • Acknowledgment of Loan Sanction letter with Terms and Condition
  • Loan Agreement complete in all respects.
  • Any other documents as ISFL may deem necessary

    minus    IV) Companies

  • Address Proof of the Company - Self attested by Company Authorised signatories. (Borrower, Guarantor and Pledger)
  • PAN Card of the Company - Self attested by Company Authorised signatories (Borrower, Guarantor and Pledger)
  • Latest 12 Months Bank account Statement of the Company - Self attested by Company Authorized signatories (Borrower, Guarantor and Pledger)
  • Latest Net worth Certificate of Borrower, Guarantor, Pledger certified by CA on CA Letter head for loans above Rs. 20 lakh. If the loan value is up to Rs. 20 lakh, a self-certified net worth statement of the borrower, Guarantor and Pledger would suffice.*
  • Last Three years IT Return / Form 16 copy of Borrower, Guarantor and Pledger (Self attested by client)
  • List of Directors with Signature on the Letter head of the Co., (Borrower, Guarantor and Pledger)
  • List of Authorised Signatories along with photo and specimen signature on the letter head. (Borrower, Guarantor and Pledger)
  • Board Resolution on the letter head of the company with Regd. Off. Address & Company common seal on the page (Borrower, Guarantor and Pledger)
  • Latest Share Holding Pattern of the company on the letter head (Borrower, Guarantor and Pledger)
  • Address Proof of the Directors - Self attested (Borrower, Guarantor and Pledger)
  • PAN Card of the Director - Self attested (Borrower, Guarantor and Pledger)
  • DIR-12 Copy for the Appointment and Resignation of Directors.
  • MOA, AOA and Certificate of Incorporation self-attested by company authorized signatory (Borrower, Guarantor and Pledger)
  • PDC/ ENach/Nach/Ecs for the Loan sanction amount in favour of IFIN Securities Finance Limited without date
  • Last Three Years Annual Report of the Borrower, Pledger and Guarantor Company.
  • Credit Information Report of Pledger, Guarantor and Borrower
  • Processing Fees cheque along with applicable GST, in favour of IFIN Securities Finance Limited without date
  • Cancelled Cheque leaf of the existing bank account
  • Acknowledgment of Loan Sanction letter with Terms and Condition sheet
  • Loan Agreement complete in all respects
  • Any other documents as ISFL may deem necessary.