How to get loan against mutual fund investments on PhonePe
PhonePe, one of the leading digital payments platforms in India, has made the task of getting loans online very easy. The platform offers several types of loan options, including personal, gold, education, and home. Interestingly, you can also get a loan against your mutual fund holdings via PhonePe. Let us take a look at how to do so.
How to start the process?
To get a mutual fund loan on PhonePe, open the app on your smartphone and head down to the 'Loan' category. Next, tap the 'Mutual Fund Loan' button. You will see two options in the pop-up: Volt Money and Fibe. The former offers loans of up to ₹5 crore, while the latter grants loans of up to ₹10 lakh.
What next?
If you choose Volt Money, you can know your loan limit in just 15 seconds by entering your mobile number. Next, you will have to fill a form that takes around 15 minutes. Once done, the loan amount will be deposited in your bank account the same day. Note, that you require a mutual fund portfolio of at least ₹50,000 to get a loan.
