Mirae Asset Fin: Loans 17+
Secured Loans & Personal Loans
MIRAE ASSET FINANCIAL SERVICES (INDIA) PRIVATE LIMITED
Designed for iPad
-
- Free
Screenshots
Description
Get loans hassle-free! Access personal loans, loans against mutual funds and shares—all in one app. Fast, easy, and secure. Download now!
Mirae Asset Financial Services: Your Financing Needs Simplified; Fast, Easy & Hassle-Free.
We aim to provide you loan in the most convenient & simplified manner. Through our app & online platform we provide secured & unsecured loans without the hassles of visiting branches, completing tons of paperwork or any hidden charges.
Avail & manage personal loans, loans against mutual funds, and loans against shares easily – all in one place!
A licensed Non-Banking Financial Company (NBFC).
Our Products:
1. Personal Loan for Salaried
Avail personal loans up to ₹5 lakh at an attractive interest rate with no hidden charges and an effortless online application process.
Why Personal Loan with Mirae Asset Financial Services?
- Loan Sanctioned in 10 Mins
- No Hidden Charges
- Easy Digital Process, No Branch Visits
- Tenure Options upto 48 Months
- Zero Foreclosure Charges
- Zero Physical Paperwork
Personal Loan Interest Rate, Tenure & Charges:
- Interest Rates from 11.49% to 20% p.a
- Loan Amount: ₹50,000 to ₹5 Lakh
- Loan Tenure – 6 to 48 months
- Minimum APR – 13%
- Maximum APR – 37%
- Processing fees – 2.5% to 3.5%*
- Stamp Duty – ₹200
- Minimum income: ₹20,000 per month
- Credit Score: 700+
An example of a Personal Loan for salaried:
- Principal Amount: ₹1,00,000
- Interest rate*: 14% p.a.
- Tenure: 24 months
- Processing Fee (3.5%)*: ₹3,500 + Taxes
- Stamp Duty: ₹200
- EMI: ₹4,801 per month
- Total interest payable: ₹15,232.
- Total amount to be repaid: ₹4,801 x 24 = ₹1,15,232.
- Total cost of loan = Interest Amount + Processing Fees + Taxes** & other charges = ₹15,232 + ₹3,500 + ₹830 = ₹19,562
*Interest rate & processing fees vary as per loan amount & tenure.
**Taxes as Applicable
2. Loan Against Mutual Funds and Shares
Loan against mutual funds and shares is an overdraft facility, with interest charged only on the utilized amount for the number of days. With loan against mutual funds and shares you get a flexible repayment terms with interest-only monthly payments where you can repay the principal amount anytime during the loan tenure as per your convenience. You can lien mark mutual funds across different AMCs registered with both CAMS & KFintech and pledge shares held in demat with NSDL.
Why Loan Against Mutual Funds and Shares with Mirae Asset Financial Services?
- 15 Mins Process*
- 100% Digital
- Instant Disbursal
- Easy Repayment: Interest-only monthly payments
- Zero Prepayment & Foreclosure charges
- Large list of approved securities
*Loan Against Mutual Funds in 15 minutes and Loan Against Shares on the same day.
Loan Against Mutual Funds and Shares Interest rate, Tenure & Charges:
- Annual Interest Rate = 10.5%
- Maximum Annual Percentage Rate (APR) = 27.3%
- Tenure = 12 Months
- Minimum Period = 12 Months
- Maximum Period = 12 Months
- Processing Fee = ₹999 + GST
- Stamp Duty = ₹500
An example of a Loan Against Securities:
- Principal Amount = ₹80,000
- Annual Interest Rate = 10.5%
- Tenure = 12 Months
- Interest payable= (₹80,000 x 10.5%) / 12 Months = ₹700 per month (Principal amt need to be repaid at the end of loan tenure )
- Processing Fee = ₹999 + GST
- Stamp Duty = ₹500
- Total Loan Repayment Amount = ₹88,400 (including principal and interest)
- Total Cost of Loan = Interest Amount + Processing Fees + Stamp Duty = ₹8400 + ₹999** + ₹500 = ₹9899**
** Taxes as Applicable
Loan Against Securities of ₹80,000 for a period of 12 months, at an annual interest rate of 10.5% APR, then the customer will pay monthly interest for 12 months of ₹700 per month.
The total loan payment over 12 months will be ₹88,400 (including principal and interest). A processing fee of ₹999 + GST & stamp duty of ₹500 will be charged.
*Taxes as Applicable
Experience a seamless loan process with Mirae Asset Financial Services. Visit our website today to access the funds you need to fulfill your financial goals!
Website: https://www.miraeassetfin.com
Privacy Policy: https://www.miraeassetfin.com/privacy-policy.html
What’s New
Version 1.11.01
Bug fixes and Enhancements
Ratings and Reviews
Very fast and convenient
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.
Very useful app for loan against mutual funds and stocks
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.
The true interest rate is actual high than bank
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
App Privacy
The developer, MIRAE ASSET FINANCIAL SERVICES (INDIA) PRIVATE LIMITED, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy.
Data Linked to You
The following data may be collected and linked to your identity:
- Contact Info
- Identifiers
Privacy practices may vary based on, for example, the features you use or your age. Learn More
Information
- Provider
- MIRAE ASSET FINANCIAL SERVICES (INDIA) PRIVATE LIMITED
- Size
- 151.9 MB
- Category
- Finance
- Compatibility
-
- iPhone
- Requires iOS 15.0 or later.
- iPad
- Requires iPadOS 15.0 or later.
- iPod touch
- Requires iOS 15.0 or later.
- Mac
- Requires macOS 12.0 or later and a Mac with Apple M1 chip or later.
- Apple Vision
- Requires visionOS 1.0 or later.
- Languages
-
English
- Age Rating
- 17+
- Copyright
- © 2022 Mirae Asset Financial Services Private Limited
- Price
- Free