DhanLAP Mutual Fund Loan vs Bajaj Finserv Mutual Fund Loans

DhanLAP is a prominent provider of loans against mutual funds and shares, offering customers the opportunity to leverage their investments for financial support. DhanLAP's distinct features and competitive terms, making it essential for customers to understand the differences to make an informed decision. More than 10,000+ customers trust.

Comparison Between DhanLAP Mutual Fund Loan vs Bajaj Finserv Mutual Fund Loans

Category DhanLAP - Loan against Mutual Funds Bajaj Finserv - Loan against Mutual Funds
Application process • Applications for DhanLAP Loan against Mutual Funds is entirely digital and only takes 15 minutes to complete the application • Applications for Bajaj Finserv Loan against Mutual Funds can only be made online.
Loan Amount ₹25000 to ₹5Crore Minimum loan amount is ₹50000.
Maximum loan amount is ₹5 Crore.
Rate of Interest • Flat 10 % p.a • Interest rates goes upto 20% per annum
Processing Fee • 1% of the loan amount plus applicable service tax • Up to 4.72% of the loan amount.
Loan Tenure 6, 12, 18 and 24 months & renewable thereafter NA
Eligibility • Applicant must be at least 18 years of age and not more than 75 years.
• Single mutual fund unit holders can borrow a loan.
• Mutual funds units in CAMS, KFintech & in DEMAT are accepted
• The applicant should be between 18 and 65 years of age.
• Nationality: Indian
• Employment: Salaried, self-employed
Credit Score • No Credit Score Limit NA
NRI Cutomers • Supports NRI customer with NRE and NRO accounts NA
Loan to Value (LTV) Ratio • Equity Funds: 50% of your mutual fund unit value
• Debt Funds: 70% LTV
• Equity Funds: Up to 50% of your equity mutual fund unit value
Payment Options • EMI Repayment: Pay a monthly instalment that is divided between interest and principal repayment.
• Balloon Repayment: Pay only the loan interest every month and the principal amount at the end of the loan period.
• The interest is charged only on the amount you have withdrawn from your pre-assigned loan amount.
Prepayment charges No Pre-payment penalty after first EMI payment Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment
Documentation • Fully Digital
• Aadhaar number
• PAN Number
• Bank IFSC code
• Bank Account number
• Mobile number associated with your Aadhaar & Bank account
• PAN card
• Identity proof
• Address proof
• Consolidated Account Statement
Turnaround time 15 Minutes NA
Loan on all days • Loan on all days, including saturday and sunday NA
Pros • Comparatively lower interest rates
• Lower Processing Fee
• No prepayment charges after first EMI payment
• Mutual Fund Loans can be availed as overdraft
• Pay interest only on the used amount
• Supports most bank accounts
NA
Cons • The Minimum loan amount is higher • EMI option not available
• Only schemes approved by Bajaj Finserv Bank are eligible
• Higher interest rates and processing fee
Popular Products • Loan against Mutual Funds
• Loan against Shares
• Loan against Mutual Funds
• Loan against Shares
List of Approved Schemes All Equity and Debt Mutual Funds Schemes All approved Mutual Funds Schemes by Bajaj Finserv Bank
Minimum Withdrawal Amount • Minimum withdrawal amount is ₹1,000 NA
Revolving credit • Available NA
Loan Renewable • Renewal available after the loan tenure NA
Annual Renewal Charges NA NA
Stamp Duty Charges ₹20 + GST Payable as per state laws and deducted upfront from loan amount
One-Time Lien Marking Charges • CAMS Lien marking charges : ₹500 + GST
• KFintech Lien marking charges: ₹300 +GST
NA
Support • Chat
• Mail
• Call
• Whatsapp
• Mon to Sun. 9 AM to 9 PM
• Mail
• Call


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