Geojit launches digital loan against mutual fund holdings

New Delhi: Geojit Credits, a non-banking financial company (NBFC), on Monday announced the launch of Loan Against Mutual Fund (LAMF).

Under the scheme, the investors can avail loans starting from Rs 10,000 in digital mode.

A LAMF allows investors to raise instant funds at attractive interest rates for their short-term liquidity requirements by keeping their mutual fund investments as collateral.

"Our newest product, digital Loan Against Mutual Fund will be of great help to investors who can avail loans at competitive rates and not redeem their MF investments, which is part of their long-term wealth creation and investment plan," Bejoy Anthraper, Business Head of Geojit Credits, said.

Geojit Credits is a subsidiary of Kochi-based Geojit Financial Services.