Fees & Charges
Shriram Credits Company LimitedLoan Product Details
Upfront charges (paid by everyone, at the time of applying)
Contingent charges (apply only if the situation occurs)
During the loan
Repaying early
If you miss a payment
Managing your pledge
Closing the loan
Shriram Credits Company Limited
Loan Product Details
Product
Loan against mutual funds (LAMF)
Lender
Shriram Credit Company Limited (RBI-registered NBFC)
Borrower age eligibility
18 to 70 years (digital)
Minimum loan amount
₹10,000
Maximum loan amount
₹2 Cr
Tenure
12 months
Loan to value (LTV)
Equity MF: 45%; Debt MF: 75% of current market value
Repayment
Monthly interest; principal at end of tenure (Balloon)
Upfront charges (paid by everyone, at the time of applying)
Amount
Applies to
Starting at 10%
Charged on the withdrawn amount only
Amount
Applies to
Starting at ₹1,499 + 18% GST
All loans, on the sanctioned limit
Amount
Applies to
₹450 + GST
All loans, at pledge of MF units
Amount
Applies to
₹100 + GST
All loans, at loan completion
Amount
Applies to
₹200 + GST (As per applicable state law)
All loans, on the loan agreement
Contingent charges (apply only if the situation occurs)
During the loan
Amount
Applies to
36% p.a.
On the overdue interest/ installment amount, till the date of payment.
Repaying early
Amount
Applies to
Nil
-
Amount
Applies to
Nil
-
If you miss a payment
Amount
Applies to
₹100 + GST per bounce
Each dishonored NACH presentation; re-presented at T +5 calendar days.
Amount
Applies to
As applicable
Only where legal action is required.
Managing your pledge
Amount
Applies to
₹100 + GST
Each full or partial release of pledged units.
Amount
Applies to
₹100 + GST
Each invoke or revoke event during the loan.
Amount
Applies to
₹250 + GST
When the borrower changed the registered bank mandate
Closing the loan
Amount
Applies to
Nil
-
Amount
Applies to
Nil
Full repayment within 3 days of disbursement; no interest for those days; upfront charges not refunded.
Amount
Applies to
₹999
Only if the borrower opts to renew the loan.