Say, you have investments in mutual funds (MFs), and you need money urgently. Do you redeem your investments? HDFC Bank Ltd seems to suggest you shouldn’t. It launched its digital loans against mutual fund on 23 May. It is an overdraft facility that promises to give you money within minutes. Should you opt for it?
What is it?
At present, it is possible to take loans against mutual fund and equity share holdings. But HDFC Bank’s loan against funds is completely online and paperless. You just need an HDFC Bank savings account
