Fees & Charges
Loan Product Details
Upfront charges (paid by everyone, at the time of applying)
Contingent charges (apply only if the situation occurs)
During the loan
Repaying early
If you miss a payment
Managing your pledge
Closing the loan
Shriram Credits Company Limited
Loan Product Details
Product
Loan against mutual funds (LAMF)
Lender
Shriram Credit Company Limited (RBI-registered NBFC)
Borrower age eligibility
18 to 70 years (digital)
Minimum loan amount
₹10,000
Maximum loan amount
₹2 Cr
Tenure
12 months
Loan to value (LTV)
Equity MF: 45%; Debt MF: 75% of current market value
Repayment
Monthly interest; principal at end of tenure (Balloon)
Upfront charges (paid by everyone, at the time of applying)
Amount
Applies to
Starting at 10%
Charged on the withdrawn amount only
Amount
Applies to
Starting at ₹1,499 + 18% GST
All loans, on the sanctioned limit
Amount
Applies to
₹450 + GST
All loans, at pledge of MF units
Amount
Applies to
₹100 + GST
All loans, at loan completion
Amount
Applies to
₹200 + GST (As per applicable state law)
All loans, on the loan agreement
Contingent charges (apply only if the situation occurs)
During the loan
Amount
Applies to
36% p.a.
On the overdue interest/ installment amount, till the date of payment.
Repaying early
Amount
Applies to
Nil
-
Amount
Applies to
Nil
-
If you miss a payment
Amount
Applies to
₹100 + GST per bounce
Each dishonored NACH presentation; re-presented at T +5 calendar days.
Amount
Applies to
As applicable
Only where legal action is required.
Managing your pledge
Amount
Applies to
₹100 + GST
Each full or partial release of pledged units.
Amount
Applies to
₹100 + GST
Each invoke or revoke event during the loan.
Amount
Applies to
₹250 + GST
When the borrower changed the registered bank mandate
Closing the loan
Amount
Applies to
Nil
-
Amount
Applies to
Nil
Full repayment within 3 days of disbursement; no interest for those days; upfront charges not refunded.
Amount
Applies to
₹999
Only if the borrower opts to renew the loan.