A mutual fund is an investment vehicle where many investors pool their money to earn returns on their capital over a period.
This corpus of funds is managed by an investment professional known as a fund manager or portfolio manager.
It is his/her job to invest the corpus in different securities such as bonds, stocks, gold and other assets and seek to provide potential returns.
The gains (or losses) on the investment are shared collectively by the investors in proportion to their contribution to the fund.
A loan is a form of debt incurred by an individual or other entity.
The lender—usually a corporation, financial institution, or government—advances a sum of money to the borrower.
In return, the borrower agrees to a certain set of terms including any finance charges, interest, repayment date, and other conditions.
Top-up loan is a facility provided by banks, housing finance companies and other financial institutions that allows you to borrow a certain amount of money over and above your home loan.
The top-up loan is not available to everyone who has availed a home loan from a bank.
Features of Top-Up Loan: Eligibility: The top-up loan is not available to everyone who has availed a home loan from a bank.