Insta Loans against Mutual Funds
- The private bank ICICI Bankhas started off a facility namly ‘Insta Loans against Mutual Funds’ in the collaboration of Computer Age Management Services(CAMS). this facility is cosidered as extension of the Insta Loan Against Shares(LAS).
about
- Under this facility, the facility will be able to take loans upto One crore rupees instantly by pledging their holdings in both debt and equity Mutual Funds(MFs).
- ICICI’s facility is fully digital and paperless. it provides a loan to retailers within few minutes. retailers don’t have to visit a bank’s branch and submit physical documents.
Features –
- customers will get access to instant liquidity under facility without selling them.
- Customers will be provided a vast range of debts and approved by the Banks.
- Minimum loan amount will be 50000 rupees and a person can take Maximum loan of One crore.
- On the limit and number of days, Customers will have to pay interest to bank.
About ICICI –
CEO ( Chief Executive Officer): Sandeep Bakhshi
Headquarters: Mumbai
Founder: Industrial Credit and Investment Corporation of India
Founded: June 1994
Managing Director(MD) : Sandeep Bakhshi