back Back

Tata Capital introduces digital ‘Loan Against Mutual Funds’

By Leandra Monteiro

September 20, 2021

Share

Tata Capital, India, financial services, digital, online, payment, loan, FinTechTata Capital Ltd, the flagship financial services company of the Tata Group announces the launch of ‘Loan Against Mutual Funds’ (LAMF), an industry first end -to -end digital offering. Customers can avail quick and hassle-free loans ranging from INR 500 thousand and INR 20 million.

Tata Capital’s digital loan offering is provided against a wide range of equity and debt schemes across mutual funds. Customers can avail the loan amount by marking a lien on the mutual fund units which are managed by various asset management companies. Backed by technology and analytics, LAMF is a personalized product to meet the diverse fund requirements of the customer. The loan amount is customized based on the value of the units in the mutual fund folio and tenure.

As reported by AMFI, the Indian Mutual Fund Industry’s AUM has grown from 15.18 trillion as on July 31, 2016 to ₹35.32 trillion as on July 31, 2021, more than 2-fold increase in a span of 5 years. Given the exponential growth in this investment category, LAMF is best suited for customers to meet their personal or business funding requirements. Most importantly, the customer continues to hold the mutual funds portfolio and can enjoy its benefits as well. The customer does not require to redeem the portfolio and pays interest only on the applied loan amount.

Speaking on the launch of LAMF, Abonty Banerjee, Chief Digital Officer, Tata Capital said, “Mutual funds as an investment category has shown tremendous growth over the last decade and continues to gain momentum.  Our latest digital product gives customers an opportunity to easily meet their fund needs in a seamless manner, even while retaining control over their portfolio.  This is in line with our strategy of constantly offering innovative products which offer customer convenience.”

Previous Article

September 20, 2021

RegTech companies to watch out for in Europe

Read More
Next Article

September 20, 2021

Capital.com announces PayPal integration for more ways to access funds

Read More








IBSi Daily News Analysis

cybersecurity

April 18, 2024

GCC banks bolster Cybersecurity measures to combat email fraud

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 19, 2024

Cashflows partners with National Association of Funeral Directors

Read More

April 19, 2024

Ant International set to create digital business centre in Malaysia

Read More

April 19, 2024

Opn appoints Vaden Landers as President and CEO of MerchantE

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023