Frequently Asked Questions

How Can We Help?

Digital Loan Against Mutual Funds is a complete digital and paperless process by which you can lien your mutual funds registered with “CAMS” or “Kfintech” (Registrar & Transfer Agents, RTAs), in few simple clicks to avail of an instant overdraft facility. Funding can be availed against approved equity and debt mutual funds.

This facility is currently available for customers maintaining approved* mutual funds or shares registered or depositary with CAMS, Kfintech & NSDL. ( * Approved as per MAFS policy)

To avail this facility you should

  • Be resident Indian. Non-Resident Indians (NRIs) are currently not eligible for this loan.
  • Be between 18 to 75 years of age
  • Have a valid PAN & Aadhaar Card
  • Have a valid email id and mobile number
  • Have a valid bank account with net banking facility

The minimum amount is Rs 10,000/- and the maximum can go up to Rs 1 crore for equity mutual funds & shares and up to Rs. 3 crores for debt mutual funds.

LTV of 45% of the value of equity mutual funds, up to 45% of the value of shares and 80% of the value of debt mutual funds.

Securities can be depledged online partially or completely.

1) For partial security depledging follow below steps

  • - Login to mobile app or web.
  • - Go to transaction tab and click security withdrawal.
  • - Select loan account & application number under which securities are pledged.
  • - Select the securities and number of units to depledge.
  • - Click calculate to check revised collateral value, revised available limit & revised total limit.
  • - Verify via OTP authentication. Your request is submitted.

Your request will be reviewed and processed accordingly. The securities will be released within 24 working hours.

2) Complete security withdrawal can be only done during loan foreclosure.

For complete security depledging follow below steps

  • - Login to mobile app or web.
  • - Go to transaction tab and click foreclosure.
  • - Select loan account to foreclose.
  • - Verify via OTP authentication.
  • - You will receive closure simulation letter on registered email.
  • - Check ‘Total amount receivable’ field & clear it the same day before 12.00 am (Night).
  • - Write to mcare@miraeassetfin.com once total amount receivable is paid. If total amount receivable is zero, no further action is needed.

Your request will be reviewed and processed accordingly within 48 working hours and sent to RTA for depledging. RTA will release the securities within 5 working days. If total receivable amount is not cleared the same day your foreclosure request will be closed, and loan will remain active.

Please Note: Foreclosure requests will not be accepted between the last working day of the month to 3rd working day of the next month due to monthly interest debit activity.

Complete security withdrawal can be only done during loan foreclosure

For foreclosure of loan account follow below steps

  • - Login to mobile app or web.
  • - Go to transaction tab and click foreclosure.
  • - Select loan account to foreclose.
  • - Verify via OTP authentication.
  • - You will receive closure simulation letter on registered email.
  • - Check ‘Total amount receivable’ field & clear it the same day before 12.00 am (Night).
  • - Write to mcare@miraeassetfin.com once total amount receivable is paid. If total amount receivable is zero, no further action is needed.

Your request will be reviewed and processed accordingly within 48 working hours and sent to RTA for depledging. RTA will release the securities within 5 working days. If total receivable amount is not cleared the same day your foreclosure request will be closed, and loan will remain active.

Please Note: Foreclosure requests will not be accepted between the last working day of the month to 3rd working day of the next month due to monthly interest debit activity.

During the application process based on the selected type of loan, users will be prompted with respective RTA or DP options to pledge securities online.

  • - Users can select either CAMS or KFintech
  • - Use login credentials of CAMS or KFintech to login
  • - Users will be shown all the eligible securities
  • - Select the securities to be pledged & number of units to be pledged
  • - Calculate the eligible amount
  • - Proceed with lien marking
  • - Post this stage your securities will be pledged

Please Note:

  • - Use login credentials (Email, Phone or PAN) of RTA/ DP holding the security.
  • - Post completing steps to pledge shares with NSDL, users’ respective DP needs to approve the same to successfully pledge.

Since Digital Loan Against Mutual Funds is a complete digital and paperless process your LAMF limit will be approved and functional instantly. You can raise funds withdrawal requests or make repayments 24*7 on all days of the week. Any withdrawal request raised till 5pm will be processed on the same day within 4 working hours. Request raised after 5pm will be processed the next working day.

Steps to follow:

  • Download app & register yourself
  • Select type of mutual funds (viz equity or debt mutual funds)
  • Complete one-time KYC registration with PAN & Aadhar details
  • (Details can be fetched directly from Digilocker if your Aadhar is linked with your mobile number)
  • Lien mark at RTA's (CAMS / KFintech) portal through One-Time Password (OTP) authentication
  • Verify your bank account online via e-mandate
  • Read & sign loan agreement online with OTP authentication
  • Your Loan Against Mutual Funds limit is ready

You can write to our customer service team at mcare@miraeassetfin.com or contact us at 1800 2099 180 (Monday to Friday 9 am to 6 pm, excluding holidays) in case you face any issues while applying for ‘Digital Loan Against Mutual Funds’ and can apply again after 30 minutes, post the previous attempt.

Yes, you can enhance your loan digitally through MAFS mobile app.

For lien removal of mutual funds, you can raise request online through MAFS mobile app.

There is no lien marking charge applicable at the time of application. Pledging further securities or de-pledging will attract a charge. You can refer to schedule of charges from here

Interest is calculated on daily basis on the utilized amount and will be due on 1st working day of the next month. The same will be debited on the 3rd working day of the next month from your Bank Account via NACH mandate. The borrower needs to service the same on a monthly basis.

Please Note: Interest payments cannot be made using the Pay Now function and will be adjusted via NACH mandate only.

The routine revaluation takes place every day and the limits get revalued as per the previous day’s NAV of the pledged mutual funds

The facility is provided for one year and gets renewed, basis satisfactory performance of the account, after one year. In case customer does not wish to renew the facility, he/she needs to place a request for closure of the account prior to renewal.

The list of approved mutual funds is uploaded in MAFS app.

Once the customer logs in to MAFS mobile application, completes KYC and gets navigated to myCAMS page, we pass on the PAN and the e-mail ID registered with us with customer’s permission. Basis the information, myCAMS will check for registry details and if not registered, users will be navigated to the myCAMS registration page. Customers can complete the registration process and can log in and continue the journey.

The customer can change the password in myCAMS page upon clicking the forgot password option and follow the instructions. Upon changing the password successfully, the customer can continue the journey to avail of the facility.

The purpose of Loan Against Securities is to take care of all your short-term and medium-term financial needs and to help you meet your contingencies.

An overdraft account will be set up with MAFS. This account will have a certain drawing limit, which you can utilize as and when required. Drawing limit depends upon the eligible LTV and value of the mutual fund unit’s pledge/ lien by you.

Yes, you can prepay your loan as per your convenience without any charges.