Short answer: SBI charges a flat 11.50% with a 0.50% fee and lends 50% on equity funds. ICICI Bank’s rates run from 10.75% to 11.75%, its fee is up to 2%, and its stated LTV on equity funds is higher.
Last verified: 12 October 2026 from each company’s official website and, where marked, its Google Play listing. Rates and fees change; the lender’s Key Fact Statement (KFS) and loan agreement decide your actual terms. FundsTiger does not rank lenders.
SBI Loan Against Mutual Funds vs ICICI Bank LAS at a glance
| SBI Loan Against Mutual Funds | ICICI Bank LAS | |
|---|---|---|
| Type | Public sector bank | Private sector bank |
| Products | Loan Against Mutual Fund units (no loan against shares listed) | Loan Against Securities, Shares and Mutual Funds (Digital LAMF) |
| Securities accepted | Mutual funds registered with CAMS: equity, hybrid, ETF, debt, FMP | Demat shares, equity and debt funds, ETFs, insurance, SGBs, FMPs, government bonds |
| Loan amount | ₹25,000 to ₹20 lakh for equity funds (FAQ says ₹10 lakh); up to ₹5 crore for debt funds | ₹25,000 to ₹1 crore against shares and equity funds; higher for debt funds |
| Loan-to-value (LTV) | Equity funds 50%; debt funds 75% | Shares up to 55%; equity funds 70% (some pages say 50%); debt funds 80%; ETFs 50% |
| Interest rate | 11.50% a year, floating (1-year MCLR + 2.5%) | 10.75% to 11.75% a year (actual Jul to Sep 2026: 8.25% to 11.75%) |
| Processing fee | 0.50% + GST (minimum ₹500, maximum ₹5,000; FAQ says ₹1,000 to ₹10,000) | Up to 2% of the sanctioned limit |
| Other charges | Renewal ₹1,000 + tax a year; no prepayment penalty | Renewal ₹2,500 + GST a year; no prepayment charge |
| Tenure | 12 months, renewable | 1 year, renewable |
| How it works | Overdraft; interest on what you use | Overdraft; interest daily on what you use |
| Digital process | Yes, via YONO or net banking; CAMS lien by OTP | Yes, via iMobile or net banking; lien on CAMS funds |
| Who can apply | Individuals over 18 with steady income; no NRIs | Age 18 to 75; digital LAMF for selected ICICI customers |
| Also worth knowing | Applies online 24×7; Not for buying shares or speculation | No prepayment charges; Paperless for existing customers |
RBI limits: banks can lend up to 60% against listed shares, 75% against equity funds and ETFs and 85% against debt funds and AAA bonds, with a ₹1 crore cap per person against shares and equity funds. NBFCs follow their own RBI rules (usually 50% on shares). Lenders can lend less. See our loan against shares and loan against mutual funds calculators.
What it costs to use ₹2 lakh for 6 months from a ₹5 lakh limit
We assumed a ₹5 lakh sanctioned limit, ₹2 lakh drawn for 6 months, interest paid monthly on the amount used, and the first-year processing fee (with GST where quoted before tax). Yearly renewal or maintenance charges, stamp duty and pledge charges are extra where they apply.
| Provider | Scenario | Rate a year | Interest | Fees | Total cost |
|---|---|---|---|---|---|
| SBI Loan Against Mutual Funds | Published rate | 11.5% | ₹11,500 | ₹2,950 | ₹14,450 |
| ICICI Bank LAS | Low end, max fee | 10.75% | ₹10,750 | ₹11,800 | ₹22,550 |
| ICICI Bank LAS | High end, max fee | 11.75% | ₹11,750 | ₹11,800 | ₹23,550 |
Key differences
- Rate: SBI 11.50%; ICICI Bank 10.75% to 11.75%.
- Fee: SBI 0.50% (capped); ICICI Bank up to 2%.
- Equity fund LTV: SBI 50%; ICICI Bank 70% (some pages say 50%).
- Securities: SBI funds only; ICICI Bank also shares, bonds and insurance.
Which should you choose?
SBI Loan Against Mutual Funds may suit you if you want low, capped fees.
ICICI Bank LAS may suit you if you want to pledge shares too or need a higher limit.
Whichever you pick, compare the APR in the KFS you are actually offered, not the advertised starting rate.
Before you apply
- Check which of your holdings are on the lender’s approved list and the LTV for each type.
- Compare the processing fee on the whole limit and any yearly renewal fee, not just the rate.
- Keep a buffer: if markets fall, you may have to repay or pledge more within days, or the lender can sell your units.
- Use it for personal needs only. Lenders do not allow these loans to be used to buy shares or for speculation.
- Read the KFS: it must show the APR, every charge and how margin shortfalls are handled.
Want to see offers from several RBI-regulated lenders in one place?
Frequently asked questions
Which is cheaper for a small LAMF?
On published figures, SBI’s capped 0.50% fee usually beats ICICI Bank’s up to 2% fee on small limits. See the cost table above.
Do I need an SBI account?
SBI’s page asks for a single-name savings or current account with SBI, matching your MF records.
Are these lenders RBI-regulated?
The loans described here are given by RBI-registered NBFCs or banks named in the table. Check the lender named in your loan agreement on RBI’s digital lending app list.
Where do these figures come from?
From each company’s official website and, where noted, its Google Play listing, checked on 12 October 2026. Where a company’s own pages disagree, we show both figures.
Sources
Read more: LAS and LAMF rates of 10 lenders · Loan against shares calculator · Loan against mutual funds calculator · All loan app reviews · Lender directory
More comparisons: HDFC Bank LAS vs ICICI Bank LAS · HDFC Bank LAS vs SBI Loan Against Mutual Funds · ICICI Bank LAS vs Axis Bank LAS · Axis Bank LAS vs IDFC FIRST Bank LAS · Bajaj Finance LAS vs Tata Capital LAS · Volt Money vs Mirae Asset Financial · Bajaj Finance LAS vs Mirae Asset Financial · Zerodha Capital vs HDFC Bank LAS · SBI Loan Against Mutual Funds vs Volt Money · KreditBee vs Moneyview · True Balance vs KreditBee · Rupee112 vs Loan112 · HDFC Bank vs Bajaj Finance · Bajaj Finance vs Tata Capital · Muthoot Finance vs Manappuram Finance · ICICI Insta FlexiCash vs Axis 24×7 FlexiCredit · Refyne vs Jify · All loan comparisons
Disclosure: FundsTiger (Gatimaan Finance Advisors Pvt. Ltd.) is a loan marketplace and lending service provider for RBI-regulated lenders. Aparampaar Finance Pvt. Ltd. (Omozing), one of those lenders, is a related party of FundsTiger. This article is general information, not financial advice. Read your loan agreement and KFS before you decide.