What are the charges for Geojit's Loan Against Mutual Funds?
The charges for our Loan Against Mutual Funds are based on the selected scheme:
| Scheme | Regular | Premium | Festive |
|---|---|---|---|
| Margin/Loan to Value | Up to 50% | Up to 50% | Up to 50% |
| Min Loan Amount | Rs. 10,000 | Rs. 2 lakhs | Rs. 5 lakhs |
| Tenor | 1 year | 1 year | 6 months |
| Interest Rate (per annum)* | 9.99% | 9.49% | 9.49% |
| Particulars | Details |
|---|---|
| Processing Fees | 0.50% + GST |
| Interest Payment | First working day of every month |
| Margin Requirements | Initial Margin- 55% Maintenance Margin- 50% |
| Lien Marking Charges | Rs. 500 per transaction (irrespective of the number of schemes/units) + GST |
| Lien Revoking Charges | Rs. 150 per transaction + GST |
| Security Eligibility | i. Fund units must be held in your Geojit demat account. ii. The fund must be open-ended and eligible to be traded on MFSS. iii. The fund must have been in existence for 12 months. iv. The fund size must be greater than Rs. 100 crores. v. The fund must publish their NAV daily. vi. The fund must have the redemption facility with T+3 settlement. |
Festive Scheme
- Interest rates are subject to prompt payment of monthly interest on or before the 30th of every month.
- In case of default, the following rates will be applicable from the loan start date and will be revised back to 9.49% after clearance of interest dues.
Day of Payment (between) Interest Rate 31st - 60th day 12.00% p.a. 61st - 90th day 14.00% p.a. After the 90th day 16% p.a.
* As required by RBI, a Loan to Value (LTV) of 50% must be maintained at all times. In the event that the LTV exceeds 50% for 5 consecutive trading days, the pledged securities will be sold proportionately to bring the LTV below 50%
* Interest is charged on the outstanding amount and only for the time the funds are used.Still need help? Create Ticket
