Mirae Asset Financial launches loan against mutual fund investments, works within minutes from mobile app

You will get the loan money within 15 minutes.

Mirae Asset Group has introduced the facility of giving loan against mutual fund units. This is the first product of the company. Group’s NBFC Mirae Asset Financial Services has launched this product. Loan is available in 15 minutes with the help of mobile app.

non banking financial company Mirae Asset Financial Services ,Mirae Asset Financial Services) has entered the Loan Against Mutual Fund business. Loan Against Mutual Fund (LAMFFor ) the company has launched a new mobile app. With the help of this app, the loan will be issued within minutes. Let us tell you that this company is a subsidiary of Mirae Asset Group. Mirae Asset Financial Services mobile app can be installed directly from Android or iOS App Store. This is one of the first end-to-end digital and paperless LAMF offerings. Let us tell you that in this, customers will get loan under overdraft facility. They can avail this facility anytime and anywhere with the help of mobile app.

Clients can avail instant LAMF limits from Rs 50,000 to Rs 3 crore from their mutual fund investments. The loan will be made available in the form of overdraft facility. Customers can withdraw the required amount through the mobile app whenever and wherever required. On withdrawal, the amount is directly credited to the customer’s bank account on the same day.

All kinds of facilities will be available on mobile app

Users can apply for limit (LAMF) through the mobile application, complete online activities like withdraw money, repay the required amount, close the loan account and many more. Krishna Kanhaiya, CEO, Mirae Asset Financial Services said, “With MAFS, we are entering a very exciting and highly competitive space. We aim to make a mark in the lending business by adhering to our core value of “customer first”. Keeping this in mind we have launched a Through Mobile App (LAMF) where customers can raise funds within 15 minutes. Most of the investors capitalize their investments made for long term goals like managing funds in business, home renovation or meeting short term needs like medical emergencies which is fundamentally wrong. We want to help our customers by providing them funds whenever they need it.”

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Customers will get convenient liquidity facility

Swaroop Mohanty, Director, Mirae Asset Global Investments (India) said, “We are excited and look forward to a bold ride in the lending business. The team has worked hard in this launch. With digital LAMF as the first product, it aims to ensure that customers have access to funds when they need it, in a convenient manner. It also helps clients to manage their finances better as it is a good option to meet their short term needs and continue investing for their long term goals. The business aims to become the trusted brands in the lending business by subsequent launch of various lending products in the coming future to meet the financial needs of the Indian consumers.