Kuvera.in, the web-based direct mutual fund investment platform, offers ‘Loan Against Securities’ as part of its existing array of investment solutions.

The facility will provide instant liquidity against the mutual fund units owned by an individual even if the funds are spread across multiple platforms.

It extends loan up to 80 per cent of the current market value of mutual funds.

The persons availing the loan have to import their funds online to Kuvera.in. The entire process is done digitally in less than 3 minutes and any additional fees are disclosed upfront.

Kuvera.in rates for the loan are far below credit card or personal loan rates, it said.

The lending partners process the loan by putting a lien on the mutual fund units and disburse the loan. The funds are transferred into the user’s bank account in less than two days, while their fund units remain secure with the respective fund houses.

Gaurav Rastogi, CEO of Kuvera, said recent uncertainties fuelled by Covid have highlighted the importance of cheaper pools of liquidity while staying consistent on investments.

Loan against mutual fund units is a form of an overdraft facility and interest is charged only on the amount availed as credit, he said.

The latest product comes on the backdrop of launch of ‘SaveSmart’ a deposit account linked to a basket of liquid funds from top mutual fund companies that provide instant liquidity of up to ₹2 lakh a day within 30 minutes.

Founded in 2016, Kuvera.in provides over 7 lakh investors and has almost ₹9,500 crore mutual fund assets under advice.

Published on June 01, 2020

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