How to avail loans through mutual funds
28-10-2017 Sat 12:57

Availing loans was a painful affair in earlier times. Guarantors, sureties etc, were necessary. You would have to run from pillar to post for the loan. Now there are many means and ways to avail loans. One among them is on mutual funds. If you have invested in mutual funds, there is no need for selling and you can avail loans on them.
The number of those investing in mutual funds for long term gains and attaining of goals, is increasing. Also, there are those who withdraw these investments, during emergency situations. This will dissolve the goals or aims for which the mutual funds were started in the first place. Without causing breaks in the achievement of your dreams, you can take loans through mutual funds. There will not be any hurdles to the capital investments. No need to stop the investments through SIP.
Loans through pawning

Where to avail
Online agencies also offer loans. If the mutual fund units are in demat form, you should obtain permission to pawn them. If they are in physical form, an agreement has to be made beforehand with the lending authorities. These will confer with CAMS or Karvy organisation, where the mutual funds are registered. It will inform that the mutual fund units with a particular folio number are pawned and they should kept in 'lean.' A letter will be sent to the investor or the lending authority to this effect.
When the loan is cleared

On failure to clear the loan
Banks or NBFC agencies will take over the mutual fund units, in case the loan is not cleared. It will notify for redeeming them. Then the fund house will sell the units and send a cheque to the lending authority.
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