Mumbai: Tata Capital Ltd.
has launched a loan against mutual funds and customers can utilize loans quickly and hassle free starting from Rs 5 Lakh to Rs 2 Crore.
Digital loan offers are given to various equity and debt schemes throughout mutual funds.
Customers can take advantage of the loan amount by marking Lien in the mutual fund unit managed by various asset management companies.
Abonty Banerjee, Chief Digital Officer in Tata Capital, said mutual funds as investment categories have shown extraordinary growth over the past decade and continue to get momentum.
“Our latest digital products give customers the opportunity to easily meet their funding needs in a smooth manner, even while maintaining control of their portfolio.
This is in line with our strategies constantly offering innovative products that offer customer comfort,” he said in a Revelation.
Assets under the management of the Mutual Fund industry grew from RS 15 Lakh Crore in 2016 to Rs 35 Lakh Crore until July this year.
Tata Capital offers consumer finances, advisory services, commercial finance, infrastructure finance, securities, investment banking, private equity advisors, credit cards, and travel & forex services.