Rates and Charges

Loans against securities come to you at attractive interest rates generally ranging from 10%-18%,p.a. based on your profile and the trends prevailing in the market. The rates may vary according to the product-variant.
Given below is the list of fees and charges applicable on availing loan against securities:
  • Loan Processing charge

    0.25%** to 1%

  • Pre-payment charge

    Nil

     

  • PENAL / DEFAULT CHARGES: (To be charged in case of any failure to make timely payments)

    24% p.a. +GST (if applicable)

  • Cheque return charge:

    as per actuals.  

     

Note:

  • **GST and other government taxes, levies, etc. applicable as per the prevailing rates will be charged in addition to these charges.
  • Sale of security in the event of default. The brokerage and other charges as per actual.

Loan Against Securities FAQs

All our loans come with the part-prepayment facility. With this, you can part prepay as much as you want during the tenor of the loan.

You will be charged a nominal processing fee. The interest will be charged only on the amount you draw and for the period that you draw it. Also, the interest will be charged on a daily basis, but will be debited to your account only once a month/quarter.

IIFL Finance offers a loan against Mutual Fund at competitive interest rates upto 20%

Loan to value ratio or LTV is the ratio of the loan amount outstanding to the value of the pledged Mutual Fund. LTV is always required to be maintained for a loan against Mutual Fund. LTV is subject to changes in regulations.

The Loan to Value or LTV currently offered against Loan against Mutual Fund, for equity mutual funds is upto 50% and for debt mutual funds is upto 80%. Please note that the above are subject to change depending upon the applicable regulations and internal policies of IIFL Finance.

Yes, it is possible. You may make a foreclosure of the entire loan before the end of the tenure. IIFL Finance levies up to 4% (inclusive of applicable taxes) on the maximum utilized limit

No. The interest will be charged only to the loan amount that you have drawn down or the outstanding loan amount.

Interest on a loan against the Mutual Fund facility is payable monthly.

If the loan is not repaid, penalties and fees will be applied. IIFL Finance may also liquidate the pledged Mutual Fund to recover the outstanding amount.

In case you fail to fulfill the shortfall within 7 business days, IIFL Finance holds the right to sell the pledged Mutual Fund to make the shortfall good.

In case of interest bounce, the entire interest amount and other charges become overdue. IIFL Finance will request you to settle the overdue amount promptly using their Pay Now facility. If the overdue payment is not made within 30 days from the due date, IIFL Finance reserves the right to initiate liquidation proceedings.

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