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How Interest Is Calculated in Loan Against Mutual Funds
LAMF interest is charged only on utilized funds, offering flexible and cost efficient borrowing.
Interest in Loan Against Mutual Funds is calculated only on the amount actually utilized, not on the total approved limit. This structure functions similar to an overdraft facility, allowing borrowers to draw funds as needed. Interest accrues daily based on outstanding balance and is charged periodically. Early repayment immediately reduces the principal outstanding, helping lower the overall interest burden effectively.Apply Now