DhanLAP Mutual Fund Loan vs Smallcase 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 Smallcase Mutual Fund Loans
| Category | DhanLAP - Loan against Mutual Funds | Smallcase - 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 Smallcase - Loan against Mutual Funds can be made online |
| Loan Amount | ₹25000 to ₹5Crore | ₹25,000 to ₹5,00,00,000. |
| Rate of Interest | • Interest rates starts from 10% | • Flat 10.75% p.a on reducing balance |
| Processing Fee | • 1% of the loan amount plus applicable service tax | NA |
| Loan Tenure | Upto 24 Months Tenure, 6, 9, 12, 24 Months Tenures | 36 months |
| 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. |
• Applicant must be at least 18 years of age and not more than 65 years of age • Single mutual fund unit holders can borrow a loan |
| 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 45% of your equity mutual fund unit value • Debt Funds: 75% LTV |
| Payment Options | • EMI Repayment: Pay a monthly instalment that is divided between interest and principal repayment. • Only interest payment every month: Pay only the loan interest every month and the principal amount at the end of the loan period. |
• Only interest payment every month: Pay only the loan interest every month and the principal amount at the end of the loan period. |
| Prepayment charges | No Pre-payment penalty after first EMI payment | NA |
| Documentation | • Fully Digital • Aadhaar number • PAN Number • Bank IFSC code • Bank Account number • Mobile number associated with your Aadhaar & Bank account |
• Aadhaar number • PAN Number • Bank IFSC code • Bank Account number • Mobile number associated with your Aadhaar & Bank account |
| Turnaround time | 15 Minutes | Sameday |
| Loan on all days | • Loan on all days, including saturday and sunday | • Monday to Friday. |
| 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 |
• Competitive interest rates • No prepayment charges • Mutual Fund Loans can be availed as overdraft • Pay interest only on the used amount |
| Cons | • NA | • EMI option not available • Higher interest rates |
| Popular Products | • Loan against Mutual Funds • Loan against Shares |
NA |
| List of Approved Schemes | All Equity Schemes | All Equity Schemes |
| Minimum Withdrawal Amount | • Minimum withdrawal amount is ₹1,000 | NA |
| Revolving credit | • Available | • Available |
| Loan Renewable | • Renewal available after the loan tenure | • Renewal available after the loan tenure |
| Annual Renewal Charges | NA | NA |
| Stamp Duty Charges | ₹20 + GST | NA |
| ONE-TIME LIEN MARKING CHARGES | • CAMS Lien marking charges : ₹500 + GST • KFintech Lien marking charges: ₹300 +GST |
NA |
| Support | • Chat • Call • Mon to Sun. 9 AM to 9 PM |
• Mail • Call • Mon-Sat from 9:30 PM to 8 PM |
Note: The interest rates and features mentioned in the table above may change at the discretion of the service provider. All details shown above are stated on the relevant website as of March 1, 2024. Kindly check respective service provider website for any updated details.
Disclaimer: Display of any trademarks, trade names, logos, and other intellectual property belongs to their respective owners. The display of such intellectual property, along with related product information, does not imply DhanLAP's partnership with the owner of the intellectual property or the issuer/manufacturer of such products.
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