50Fin: Loan against Securities 2.3.20

50Fin offers an innovative solution for leveraging mutual fund and stock investments by providing the opportunity to unlock liquidity through secured loans. This platform stands out for its swift processes and minimal requirements, positioning itself as a convenient option for investors seeking immediate access to cash.

Key Features of 50Fin:

• Instant Loan Approval: The platform ensures quick approvals, eliminating lengthy waiting periods.
• No Minimum CIBIL Required: Accessibility is enhanced for a broader range of investors.
• Quick Disbursal: Loan disbursement occurs within hours, facilitating urgent financial needs.
• Zero Preclosure Charges: Flexibility in repayment without penalties allows borrowers to manage their loans better.

Operational Process:

1. Fetch Your Portfolio: Users can assess their mutual fund or stock portfolios instantly.
2. Pledge Your Assets: Select eligible assets to secure funds against your investments.
3. e-Agreement & e-Mandate: The loan process is completed digitally with ease.

Differentiating Factors of 50Fin:

• Instant Approvals: Based on the portfolio, a minimum of ₹50,000 in mutual funds or ₹2,00,000 in stocks is required.
• Diverse Coverage: Support for over 10,000 mutual funds and 1,000 stocks enhances investment options.
• Transparent Terms: Simple interest rates starting at 10.45% per annum with no hidden fees.

Eligibility Criteria and KYC Checklist:

• Mutual Funds & Stocks Accepted
• Age: 18 to 65 years
• Minimum Mutual Fund Portfolio: ₹50,000
• Minimum Stock Portfolio: ₹2,00,000
• Indian Nationality & Regular Bank Account
• Required Documentation: Aadhaar, PAN, Selfie Verification

Additional Benefits:

• Partners in Growth: Collaborated with Bajaj Finserv to enhance service credibility.
• Flexible Repayment Options: Easy repayment terms with no pre-closure charges.
• User-friendly App: An application is available for managing loans on the go.

Loan Terms:

• Minimum Period for Repayment: 60 Days
• Maximum Period for Repayment: 3 Years
• Maximum APR: 10.5%

The Financial Breakdown Example:

• Principal Amount: ₹1,00,000
• Annual Interest Rate (APR): 10.5%
• Tenure: 36 Months
• Total Interest Paid Over 36 Months: ₹31,500 (Interest only payments of ₹875/month)
• Total Loan Repayment Amount: ₹1,31,500 (Principal + Interest)
• Total Cost of Loan (Excluding GST): ₹32,499 (Interest + Processing Fees)

Please note that personal loans are not offered through this platform. The NBFC partner is Bajaj Finserv Ltd.

Useful Links:

• Visit Our Website: 50Fin
• Privacy Policy: 50Fin Privacy
• Email: [email protected]