LAMF - LOAN AGAINST SECURITIES

If you are eligible for a Loan Against Mutual Funds and choose to proceed through the offline process, you must provide the following documents to verify your information:

• Photograph

• Address proof (Aadhaar Card/Passport/Driving License/Voter ID)

• Identity proof (Aadhar card/Passport/Driving License/Voter ID)

• PAN Card

• Signature verification (PAN Card/Passport/Banker's verification)

• Original Mutual Fund statements/Demat holding statement

• Bank cheque

• For non-individual customers, the standard KYC documents for an Overdraft/Current Account opening may be required. Please refer to the link below: https://www.icicibank.com/business-banking/current-account/documentation

• Additionally, we may require an audited balance sheet, Net Worth Certificate and profit and loss accounts etc., as per the credit requirement.

In case you are eligible for our pre-approved Insta Loan Against Mutual Funds and choose to proceed through the digital process, you can avail the facility through our Retail Internet Banking site or iMobile app without any documentation, just by fulfilling the below criteria:

• Pre-approved eligibility for an Insta Loan Against Mutual Funds

• Registered e-mail/mobile with Computer Age Management Services (CAMS)

• Mutual Funds should be included under ICICI Bank’s approved list of Mutual Funds.

Once your loan is sanctioned and the Mutual Funds are lien marked/pledged in favour of the Bank, the credit limit will be set in your Overdraft Account which you can start using.

If your Mutual Fund price drops then your overall credit limit may decrease, which in some cases may lead to your account becoming overdrawn in case your outstanding balance becomes more than the revised credit limit. In that case, you can either lien/pledge more Mutual Fund units which will increase your credit limit or repay the excess amount that you have withdrawn to regularise the account. Please note that penal charges may be applicable on the overdrawn amount till the account is regularised.

You can release your Mutual Funds after repaying the amount which is due to the Bank or if you have a surplus limit available in your account which allows the Mutual Funds to be released.

To apply, individuals must fall within the age bracket of 18 to 75 years.

Yes, you can take a loan by pledging shares with ICICI Bank, which are part of the approved list for loan purposes. Approved list of shares

Yes, you can make a part prepayment of the amount utilised from the limit anytime, without incurring any charges.

Yes, you can swap your pledged shares anytime with other shares which are part of the approved list for loan purposes.

The routine revaluation takes place every Friday. However, a revaluation can also take place in the interim period if there is a significant fluctuation in the market or if the Bank deems it is fit to do so.

Interest is calculated on the daily outstanding balance and will be debited/charged to the LAS Account on the 2^nd working day of every month for the entire interest period.

Since it is an Overdraft facility, the interest is applicable only on the limit utilised and for the number of days it is utilised.

Interest is calculated on the daily outstanding balance and will be debited/charged to the LAS Account on the 2nd day of every month for the entire interest period.