Mirae Asset Fin: Loans

App is little bit sluggish but its certainly useful for quick money. Also its best interest rate (although it has increased couple of times) among competitors. Overall best service for loan against MF and stock. I have few suggestions like add feature to show interest on utilised amount similar to Bajaj finance app. This is very useful to understand applicable interest amount and no need to rely on Mirae aseet SMS or mail every month. Another suggestion is to avoid processing fee for two different RTA CAMS and Kfintech. We need to pay processing fee twice for two different RTA. Overall very good service and keep continuing the good work.

As per illustration in app summary, the loan against mutual funds is not actually 9.5% as per the EMI calculator. It actually works out to be 16.4% interest charges. Isn’t it quite high? this needs to be relooked to make it really attractive and viable. Also open up a gateway for educational loan / abroad education which are out of reach for middle class however at truly reasonable rate of interest, which is quite productive lending! Of course, this also has to be worked out as a affordable interest charges, not with 15-16% hope to see a evolved financial services against mutual funds, going forward from an institute like yours

The app is very fast and convenient for taking loan against mutual funds. I could complete the process within 15 minutes without any issue. Fund got credits to my bank account within minutes of withdrawal request.