Comparing Loan against Mutual Funds, Personal Loans, Gold Loans, and Property Loans
| DhanLAP Loan against Mutual Funds | Personal Loan | Gold Loan | Property Loan | |
| Interest Rate | Flat 10 % p.a on reducing balance | Starts from 12% p.a. Onwards | Interest rate starts from 7% p.a. to 29% p.a. | 11% p.a. Onwards |
| Type | Secured | Personal loan is a unsecured loan | Secured | Secured |
| Processing Fees | • 1% of the loan amount plus applicable service tax | Upto 2.5% of loan amount plus applicable service tax | 0% - 2% of the loan amount plus applicable service tax |
1% - 3% of the loan amount plus applicable service tax |
| Turnaround time | 15 Minutes | 1 day | 5 to 20 Days | |
| Application Process | Applications for DhanLAP Loan against Mutual Funds is entirely digital and only takes 15 minutes to complete the application | Both online & offiline physical process available | While many banks now offer online application options, gold loan processes have traditionally been conducted offline |
Applications for Loan against property often involve offline processes and extensive documentation requirements. |
| Lock-in period | No lock-in | 6 to 12 months | No lock-in | 6 to 12 months |
| Prepayment/ Foreclosure charges | No Pre-payment penalty after first EMI payment | 2% to 5% of loan amount plus applicable service tax | No Charges | No Charges |
| Loan Tenure | 6, 12, 18 and 24 months & renewable thereafter | upto 5 Years | 3 months to 4 years | From 5 years to 20 years |
| Loan Amount | ₹25000 to ₹5Crore | upto 40 Lacs | Up to Rs.1.5 crore | Up to ₹ 25 crore |
| Collateral | Equity Mutual Funds and Debt Mutual Funds | No Collateral | Gold | Property |
| LTV | • Equity Funds: 50% of your mutual fund unit value • Debt Funds: 70% LTV |
- | LTV Ratio - 70 to 80% of the value of the gold |
LTV Ratio - Up to 75% of the value of the property |
| Income proof | Not Required | ITR or Salary slip required | Not Required | ITR or Salary slip required |
