The private sector bank ICICI Bank has recently launched a facility for their users to get loan up to INR 1 crore instantly against mutual funds. It is going to be a digital process with no paper work. One can get it within few minutes and there is no need to be physically present at the bank.
The bank has launched the Insta loans against mutual funds with the partnership with Computer age management services. The bank said- “We are happy to partner with CAMS for this facility to provide complete digital access for loans against mutual funds to our customers. With this facility, customers can leverage their mutual fund holdings to get access to funds instantly.”
We are delighted that our portal is expanding further to serve mutual fund customers in newer ways. This is an important milestone in our mutual fund service journey,” said by Anuj Kumar, CEO of CAMS.
Here is how one can avail this instant loan in few steps-
1. Log into the ICICI bank with internet banking using your login details.
2. Now go to the investments and insurance and click on loans against mutual funds.
3. Check the pre qualified eligibility and select the type of mutual fund.
4. Now you will be redirected to the CAMS portal where you have to select mutual fund scheme and numbers of unit. Now enter the OTP for verification process.
5. Confirm the loan amount.
6. Complete the FATCA and accept the terms and conditions. Now enter the OTP and set the limit instantly.