Chennai, March 5 -- Private mortgage lender South Indian Bank (SIB) on Thursday announced the launch of its digitally integrated Loan Against Mutual Funds (LAMF) offering, enabled by smallcase's technology infrastructure.
The partnership allows SIB to extend secured credit against mutual funds at an interest rate of 9.99 percent p.a., in compliance with regulatory guidelines, to both its existing customer base and to customers of digital wealth platforms through its Lending Service Provider (LSP) network.
Using smallcase's secured credit stack, SIB has built a native, API-led integration that enables an end-to-end digital journey for the user that includes pledging, disbursal, and release of mutual fund units.
With this launch, SIB becom...