Friday, 17 November 2017

SBI Loan against Mutual Funds

SBI Loan against Mutual Funds

SBI Loan against Mutual Funds



The country’s biggest lender SBI (State Bank of India) offers loans against mutual funds. This facility offers the bank’s customers loan for short-term without selling their mutual funds units. You can pledge your mutual fund units to the bank when you are in need of money for short tenures. However, during the tenure of the loan, you cannot sell your mutual fund units.



"#DidYouKnow you can avail a personal loan against your Mutual Fund investment at attractive interest rates?" SBI said in a tweet on 17 July 2017.
Please see the SBI tweet in the below image
SBI Loan against Mutual Funds

Features of SBI Loan against Mutual Funds

Following are the main features of SBI loan against mutual funds.

Eligibility for availing SBI Loan against Mutual Funds

The individual should be above 18 years of age for getting SBI loan against mutual funds.

Loan Amount

SBI has set minimum and maximum loan amount limit against mutual funds.
Minimum Loan Amount
The minimum loan amount will be Rs. 25,000/-
Maximum Loan amount
The maximum loan amount will be Rs. 20,00,000/- for Equity / Hybrid / ETF mutual funds and Rs. 5,00,00,000/- for Debt / FMP mutual funds.

Margin

1. For Equity / Hybrid / ETF mutual funds
You will get up to 50 percent of the value of mutual funds as a loan.
2. For Debt / FMP mutual funds
You will get up to 85 percent of the value of mutual funds as a loan.


Fees for availing SBI Loan against Mutual Funds

Interest Rates


SBI Loan Processing Fees

The processing fees will be 0.75% of the loan amount + applicable tax (Max: Rs 50,000 + applicable tax).

Review / Renewal Charges (Yearly)

The renewal charges will be Rs. 1000/- + applicable tax.

Approved Schemes for SBI Loan against Mutual funds

SBI has provided the list of mutual funds schemes eligible for a loan against mutual funds. Click here for List of Approved Schemes.


Eligible Branches for SBI loan against Mutual Funds

SBI also provided the list of eligible branches that can offer loan against mutual funds. Please refer the table below for branches with addresses. 

List of Eligible Branches for SBI loan against Mutual Funds
City
Branch Name
Address
Guntur
Treasury Branch
2/14  BRODIPET,GUNTUR.                       
Vijayawada
Labbipet Branch
MG ROAD,LABBIPET,VIJAYAWADA              
Guwahati
DISPUR GUWAHATI
GUWAHATI,
Patna
PATNA SECRETARIATE
SINCHAI BHAWAN',PATNA SECRETARIAT,PATNA.BIHAR
Patna
SPL.PBB PATNA
WEST GANDHI MAIDAN.PATNA,
Chandigarh
CHANDIGARH MAIN BRANCH
SCO 43-48.BANK SQUARE,SECTOR 17 - B.CHANDIGARH 
Bhilai
BHILAI
BHILAI,PB NO. 5 SEC.I BHILA,DISTT : DURG
Raipur
NEW SHANTI NAGAR RAIPUR
SHANKARNAGAR RAIPUR,DIST:RAIPUR,
New Delhi
SOUTH EXTN PART II
SOUTH EXTN PART II MARKET,NEW DELHI.
New Delhi
RAIL BHAWAN                                 
NEW DELHI                   
New Delhi
PER  BKG BRANCH NEW DELHI
11 PARLIAMENT STREET,NEW DELHI.
New Delhi
DELHI UNIVERSITY
DELHI UNIVERSITY,DIST DELHI.
New Delhi
ANSARI NAGAR
AIIMS CAMPUS ANSARI NAGAR,NEW DELHI.
New Delhi
JANAKPURI
SAGAR TOWER.DIST CENTRE,JANAKPURI,NEW DELHI
Panjim
PANAJI MAIN BRANCH
PANAJI MAIN BRANCH,OPP MANDOVI HOTEL,DB MARG,PANAJI.GOA
Ahmedabad
AHMEDABAD MAIN BRANCH
AHMEDABAD MAIN BRANCH,POST BAG NO. 182.BHADRA,AHMEDABAD
Bhavnagar
Kalanala Branch
KALANALA,BHAVNAGAR                
Ahmedabad
SECTOR 10B   GANDHINAGAR
1ST FLR.GANDHINAGAR BR B,SECTOR 1B,OPP NEW SACHIV,GANDHINAGAR
Surat
NANPURA SURAT                               
RAJESHWAR APARTMENT,ATHUGAR STREET,TIMALIAWAD.SURAT        
Vadodara
SBI Alkapuri
R. C. DUTTA ROAD,ALKAPURI,VADODARA                
Jammu
JAMMU                                       
HARI MARKET,JAMMU TAWI (J&K).JAMMU 
Jamshedpur
JAMSHEDPUR
P.O.-JAMSHEDPUR.
Bangalore
JALAHALLI                                    
JALAHALLI,BANGALORE           
Bangalore
INDIRANAGAR, BANGALORE                      
2989 1 A.12TH MAIN,HAL II STAGE,INDIRANAGAR,BANGALORE
Bangalore
PBB, KORAMANGALA
472/4E.A.V.S COMPOUND,8' PERIPPERAL RD,4TH BLK,BANGALORE
Bangalore
S P B BRANCH, BANGALORE
P.B.NO.5315,ST.MARK'S ROAD,BANGALORE
Mangalore
MANGALORE                                   
POST BOX NO. 90,PORT ROAD,MANGALORE 575 1       
Mysore
Mysore Main Branch
PB NO.204,MOTHIKHANA BLDG,NEW SAYYAJI RAO ROAD,MYSORE                  
Ernakulam
M.G.ROAD ERNAKULAM                          
M.G.ROAD,ERNAKULAM,ERNAKULAM,1187 
Trivandrum
TRIVANDRUM                                  
PB NO 14,M G ROAD,TRIVANDRUM              
Bhopal
H.E.T. BHOPAL                               
H.E.T. BHOPAL,PIPLANI BHOPAL,DISTT : BHOPAL          
Indore
INDORE
INDORE,DISTT : INDORE
Mumbai
PEDDAR ROAD                                  
39,KALPATARU,PEDDAR ROAD,MUMBAI
Mumbai
SPECIALISED PBB, MUMBAI                     
P0ST BOX NO.1965,HORNIMAN CIRCLE,M. S. MARG.MUMBAI
MUMBAI
SPECIALISED SECURITIES FIN.  BR. WORLI MUMBAI
31 MAHAL INDUSTRIAL ESTATE
MAHAKALI CAVES ROAD MIDC ANDHERI
Mumbai
CHEMBUR                                     
SUNBEAM',18TH ROAD,CHEMBUR
Mumbai
I.I.T. POWAI                                
ADI SHANKARACHARYA MARG,NEAR IIT MAIN GATE,POWAI MUMBAI
Mumbai
ANDHERI WEST                                
RAHUL APT,SV ROAD,ANDHERI WEST,MUMBAI,MUMBAI
Nagpur
NAGPUR
S V PATEL MARG KINGSWAY,NAGPUR,DIST. : NAGPUR
Pune
ERANDWANA                                   
KARVE ROAD,ERANDVANA,PUNE
Pune
AUNDH (PUNE)
PLOT NO 1+4,SNO157(PART),KHOND ARCADE,PARIHARCHOWK,AUNDH PUNE
Mumbai
NAUPADA THANE                               
NAUPADA BRANCH,425 GOKHALE ROAD,NAUPADA THANE
Bhubaneswar
BHUBANESWAR MAIN BRANCH
UNIT-1,BHUBANESWAR,KHURDA
Amritsar
AMRITSAR CANTT                              
STATE BANK OF INDIA,AMRITSAR CANTT.RANI KA BAGH.
Ludhiana
LUDHIANA
CIVIL LINES,FOUNTAIN CHOWK.LUDHIANA 
PATIALA
SPECIALISED AGRI COMM BR, PATIALA
1066/7,Near Gurudwara
Kashmirian,Tripri,
Patiala (Punjab)
Jaipur
MAIN BRANCH JAIPUR
STATE BANK OF INDIA,MAIN BRANCH.SANGANERI,GATE.JAIPUR
Chennai
ADYAR                                       
5  SARDAR PATEL ROAD,ADYAR,CHENNAI.
Chennai
ANNA NAGAR WEST
Y-211.11TH AVENUE,ANNA NAGAR,CHENNAI
Chennai
P.B. BRANCH, T.NAGAR
NO 9 BAZULULLAH ROAD,T. NAGAR,CHENNAI
Coimbatore
COIMBATORE
STATE BANK ROAD,COIMBATORE,TAMIL NADU.
Madurai
MADURAI                                     
SANGAM TOWERS,7 WEST VELI STREET,MADURAI
Salem
SALEM                                       
FORT MAIN ROAD,SALEM,
Hyderabad
HYDERABAD MAIN BRANCH
SBI BUILDINGS,BANK STREET.KOTI,HYDERABAD
Hyderabad
SECUNDERABAD
PATNY  NEAR, SECUNDERAB.R.P.ROAD.SECUNDERABAD 
Agra
AGRA
CHHIPITOLA,M.G.ROAD.AGRA,AGRA.U P
Noida
P.B.B. NOIDA                                
A2/2 Sector 52 NOIDA,Distt Gautam Budh Nagar,U.P.
Ghaziabad
NAVYUG MARKET
NAVYUG MARKET,GHAZIABAD,U.P.                    
Kanpur
P B B KANPUR
16/101 THE MALL,KANPUR,
Lucknow
LUCKNOW MAIN BRANCH
STATE BANK OF INDIA,TARA WALI KOTHI.MOTI MAH,AL MARG LUCKNOW
Kolkata
BURNPUR                                     
P.O. - BURNPUR,DIST,BURDWAN                   
Kolkata
BALLYGUNGE
50A.GARIAHAT ROAD,KOLKATA
Kolkata
JADAVPUR UNIVERSITY
RAJA SUBODH MULLICK,ROAD,KOLKATA..
Kolkata
HIGH COURT BRANCH SPL P B BR
1.STRAND RD.SAMRIDHHI,BHAVAN JEEVAN DEEP RD,KOLKATA
Kolkata
SALT LAKE
DB-2.SECTOR-I,SALT LAKE CITY,KOLKATA.W.B.
Kolkata
AE MARKET SALT LAKE SCTR 1
AE MARKRT SALT LAKE CITY,KOLKATA- 7 64,W.B.
Kolkata
SALT LAKE ELECTRONICS COMPLEX
VI - 8/1.E.P. BLOCK,SALT LAKE.SECTOR V,KOLKATA
Kolkata
BEHALA
1168/1 DIAMOND HARBOUR RD,KOLKATA,
SBI Loan against Mutual Funds


You may also like to read: Loan against Mutual Funds or Securities

You may also like to read: SBI Recurring Deposit Account (RD Account)

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SBI Loan against Mutual Funds



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