If you have taken a loan against mutual funds and want to check its status, you can visit our customer portal ‘My Account’ to view your rate of interest, drawing power, and more. Here is a detailed guide on how to check your loan against mutual funds details:
Step 1: Log in to My Account
The first step is to visit the website and click on the ‘Sign-in’ button or login to the Bajaj Finserv app. You will be redirected to the My Account login page, where you need to enter your registered mobile number and the OTP received on your mobile number.
Step 2: Verify your details
After logging in to the dashboard, you need to verify your details by entering your date of birth. This is an added step for your security measures.
Step 3: Select your loan account
From the ‘My Relations’ section of the dashboard, choose the loan account which you want to check. Click on the loan account, and you will reach further detailed information.
Step 4: Check your loan details
Once you have selected the loan account, you can check all the necessary details, such as drawing power, rate of interest, value of pledged securities, available balance and more. You can view your repayment schedule too. You may also choose to download a copy of your loan statement.
That’s it! These are the easy steps to follow to check your loan against securities details in My Account customer portal. The portal offers you complete transparency and ease of accessibility to view your loan details online, without any hassle.
Apart from checking your loan details, the portal also enables you to repay your loan, withdraw funds and release your pledged securities. It is a convenient and user-friendly platform that enables you to manage all your loan accounts in one place and keep track of all your loans and investments easily.
Why track your loan against mutual funds details regularly?
Monitoring your loan against mutual funds (LAMF) on a regular basis helps you stay financially in control. Since the loan is linked to market-driven assets, the value of your pledged mutual funds can fluctuate. Tracking the loan details frequently lets you avoid surprises like a margin call or unexpected interest build-up. It also helps you manage repayments smartly and ensure you maximise liquidity benefits without risking your investments. Here is why regular tracking is important:
- Fluctuating fund value: Market movements may impact the value of pledged units, altering your loan eligibility or outstanding balance needs.
- Avoid margin calls: Staying updated helps you respond quickly if additional securities need to be pledged.
- Manage interest efficiently: Regular monitoring helps you track interest accrual and optimise repayment to reduce total cost.
- Track utilisation: If you have an overdraft facility, you can check how much you’ve drawn and how much limit is still available.
- Financial planning: Enables better planning of EMIs, withdrawals, and investment decisions without disrupting your portfolio.
Key details you can monitor in my account for your LAMF
Your account dashboard provides a detailed view of your loan against mutual funds, letting you access essential information anytime. These details allow you to check the health of your pledged investments, outstanding loan amount, and withdrawal availability, helping you take faster borrowing or repayment decisions. Key aspects you can monitor:
- Pledged MF portfolio value: Track the current market value of pledged mutual fund units.
- Available drawing power: View how much limit you can still withdraw based on fund performance.
- Outstanding loan balance: Check the exact payable amount at any point.
- Interest accrual and repayment history: Monitor interest charged and past payments to optimise costs.
- Margin status and alerts: Keep track of margin requirements to avoid liquidation or additional pledging needs.
- Statement downloads: Access statements, interest certificates, and transaction reports instantly for reference or tax purposes.
