ET Money Launches Loans Against Mutual Funds Revolutionizing Secured Lending in India
ET Money, part of the 360 ONE WAM group, has unveiled Loans Against Mutual Funds (LAMF), enabling investors to borrow against their mutual fund holdings without liquidation. The digital-first service, offered through mobile apps, provides low-cost, flexible credit access with real-time fund availability and zero foreclosure charges.
- Country:
- India
ET Money, an integral entity within the 360 ONE WAM group, has stepped into the secured lending arena with its latest offering, Loans Against Mutual Funds (LAMF). The breakthrough service allows investors to borrow against their mutual fund assets, maintaining the investment's growth potential while providing immediate access to funds.
This initiative is a pivotal addition to ET Money's vision of crafting a comprehensive digital wealth platform. According to CEO Mukesh Kalra, LAMF eliminates the dilemma investors face when short-term financial needs arise, allowing them to leverage long-term savings without interrupting wealth accumulation.
Accessible via ET Money's Android and iOS applications, this platform ensures real-time, hassle-free loan processing through non-banking financial company (NBFC) partnerships. The service eliminates fixed EMIs and offers an adaptable overdraft facility, repaid as per user convenience, promoting both financial flexibility and disciplined investing.
(With inputs from agencies.)
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