What is a Loan Against Mutual Funds (LAMF)?
Loan Against Mutual Funds (LAMF) is a type of loan where you can borrow money
from a financial institution or lender by
using your mutual funds investment as collateral.
What’s the purpose of LAMF?
LAMF provides access to cash without selling your mutual funds, which is ideal
for short-term needs.
How is an LAMF different from a Personal Loan?
LAMF is a secured, low and simple interest loan with minimal documentation and is
available to low/no credit score
holders.
Whereas, Personal Loan is an unsecured, higher interest loan with fixed EMIs and slightly more thorough
documentation.
What is the minimum & maximum age to avail LAMF?
The eligible age range to avail LAMF is 21 to 70 years.
Who can apply for LAMF?
Indian residents, salaried or self-employed, aged 21-70 can apply for LAMF.