The lender will create a lien or charge on the basis of units pledged with them. If the investor fails to pay the loan amount, the lender can sell the units and recover their dues.
The loan amount will depend on the margins charged by lenders, as percentage of the value of units under lien.
Dividends and other benefits from the units under lien will go to the unit holder, unless they are specifically barred by the lien holder.
A unit holder cannot redeem the units under a lien until the lien holder provides a written authorisation to the fund to revoke the lien.
Once the investor repays the loan, the units become free from the lien and are unmarked.
Top 10 Tax Saver Mutual Funds to invest in India for 2016
Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
3. Franklin India TaxShield
4. ICICI Prudential Long Term Equity Fund
5. IDFC Tax Advantage (ELSS) Fund
6. Birla Sun Life Tax Relief 96
7. DSP BlackRock Tax Saver Fund
8. Reliance Tax Saver (ELSS) Fund
9. Religare Tax Plan
10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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