← MyraNest
Sign in
MoneyLens · Credit lines

Your credit line, explained.

An overdraft against your FD, a loan against shares or mutual funds, a personal or flexi overdraft, or a loan against your life policy: what using it really costs, how far the market can fall before a margin call, and whether its charges are allowed, worked out by code from your own documents.

Interest only on useMargin-call studioLine or break the FD
See a sample report →All MoneyLens products →
Check your credit linePrivate
For a policy loan, the insurer's loan letter. Statements are often password-protected: Myra uses the password once and forgets it.
Or see a sample: which kind of line?
Open the sample report →
Account numbers are kept as the last 4 digits only. A statement's transactions and a pledge statement's holdings are turned into totals and not kept. Once a document is read you can delete it and keep only the figures.
What you see first

Your line, at a glance.

Open the full report →
Loan against securities
Pledge statement20 Oct
Available to draw
₹1,80,000
of ₹7,00,000 usable now
Used
₹5,20,000
drawing power ₹7,00,000
Market can fall
33%
before a margin call · as of 20 Oct
Rate a year
10.75%
11.30% compounded
74.3% of the limit used₹1,80,000 available
Kaveri Smart LAS from Kaveri Finance Ltd with a ₹10,00,000 limit at 10.75% a year. Interest runs only on what's used, from the day it's used; the pledged holdings must keep covering it, or the lender asks for more. ₹5,20,000 is used now.
Myra's most important observations
Six questions, answeredSample: loan against shares and funds · Kaveri Finance Ltd
Q1What does using this line cost?₹884per ₹1 lakh for 30 daysQ2How much is used, and what's left?₹5,20,000₹1,80,000 left of ₹7,00,000Q3How far can the market fall before a margin call?33%shares and equity fundsQ4Are the terms and charges right?1 to checkagainst RBI's rulesQ5Can I close it without a charge?With noticetell the lender before renewalQ6What can Ask Myra help me with?4 answers readyCited from your documents
What Myra finds

In rupees, from the documents.

On the samples: money you may be owed, could save, or have at risk. Each figure is a finding's own, with its calculation and source; options are never added together.

01 · Loans against shares and funds

If the market falls, what do you add?

Move the market fall, what's owed and the holdings. Debt funds hold steady; shares and equity funds fall. Free, no sign-in.

Margin call · if the market falls
Prefilled from Pledge statement p.1 · Sanction p.2, Margin
20%
₹5,20,000
₹6,40,000
₹2,60,000
₹2,00,000
After a 20% fall
No call
the holdings still support ₹5,92,000
The market can fall
33%
before a margin call
Holdings support, today₹7,00,000
Holdings support, after 20%₹5,92,000
Owed₹5,20,000

Loan-to-value after the fall: 57% of what the holdings are worth.

Assumptions & limits. Holdings as valued on 20 Oct 2026; prices have moved since. Shares and equity funds fall by the % chosen; debt funds and bonds are held steady. The holdings support 60% of shares, 60% of equity funds and 80% of debt (RBI's limit for this lender type, or a typical figure, where the documents don't state one). A shortfall must be made good within 7 days, or the lender can sell pledged holdings.
02 · On every line

Eight checks, one report.

Each one runs only when your documents support it, cites the line it used, and says what's still to confirm.

— 01Interest only on what's usedWhat using ₹1 lakh for 30 days costs, and what keeping the line costs a year in fees, used or not.
Sample: Against shares & fundsOpen →
— 02Interest, rebuiltThe statement's interest rebuilt from its transactions (read, totalled, not kept), against what was charged.
Sample: Against an FDOpen →
— 03Margin and loan-to-valuePledged holdings by type against what's owed: any shortfall now, and how far the market can fall before a margin call.
Sample: Against shares & fundsOpen →
— 04Lending more than RBI allows60% against shares from an NBFC, or a bank above ₹1 crore against shares: flagged, with a ready email.
Sample: Against shares & fundsOpen →
— 05Closing without a chargeFrom 2026, no closure charge on floating-rate personal lines, and none on any line if you give notice before renewal.
Sample: Personal overdraftOpen →
— 06Penalty as extra interestSince 2024 a penalty must be a separate charge, not interest added to the rate.
Sample: Personal overdraftOpen →
— 07Over the limit, out of orderUsed above the limit or drawing power, a dropline's falling limit, and when an account is reported as overdue.
Sample: Personal overdraftOpen →
— 08A policy loan left unpaidWhen unpaid interest takes what's owed to the surrender value, and the policy can be foreclosed. No loans on ULIPs.
Sample: Against a policyOpen →
03 · Overdraft against an FD

Use the line, or break the FD?

The line's interest on what you use, against the FD interest you'd give up and the premature-withdrawal penalty.

Use the line, or break the FD?
Prefilled from Sanction p.1, Security
₹1,00,000
60 days
9.10%
None
7.10%
1%
12 months
10 months
7.10%
No tax
Using the line
₹1,496
₹1,496 interest for 60 days
Breaking the FD
₹2,167
interest given up and penalty
Line: interest₹1,496
Break: FD interest given up₹1,167
Break: penalty₹1,000

On these figures, using the line costs ₹671 less than breaking the FD. The longer the money is needed, the more the line's rate gap counts; the longer the FD has run, the more the penalty counts.

Assumptions & limits. Line: interest at 9.10% a year on ₹1,00,000 for 60 days, plus no new fees (the line is already set up); the FD keeps earning, and the line's interest isn't tax-deductible for personal use. Breaking: that much of the FD stops earning 7.10% for the 60 days, is re-deposited at 7.10% for the rest of its 10 months, and the interest already earned on it is cut by the 1% penalty for the 12 months held. Tax on FD interest is left out (set your slab to include it). Some banks pay a lower rate for the period actually held instead of a penalty; the FD's own terms decide.
India-specific rules

Rules, not search results.

RBI's and IRDAI's rules, applied by the date your line was sanctioned or renewed, and by lender type. Myra never calls a term wrong without saying which rule and which line of your documents it used.

AreaWhat Myra checks on your line
Loans against shares (banks)From 1 Jul 2026: up to ₹1 crore per person across banks against shares and equity funds; at most 60% of shares, 75% of equity funds, 85% of debt funds; a shortfall made good within 7 working days.
Loans against shares (NBFCs)At most 50% of the shares' value; a shortfall made good as the agreement says.
Closing a lineFor lines sanctioned or renewed from 1 Jan 2026: a closure charge only up to the sanctioned limit, none with notice before renewal, and none on floating-rate personal lines.
PenaltiesA separate penal charge, never extra interest on the rate, and no interest on it.
Out of orderOver the limit or drawing power for 90 days, or no credits for 90 days: reported as overdue from day 31, a non-performing asset after 90.
Policy loansRequired on life savings plans, based on the surrender value; not allowed on ULIPs.
ComplaintsBanks and NBFCs: the RBI Ombudsman after 30 days. Insurers: the Insurance Ombudsman after a month, within a year.
Applied bySanction or renewal dateLender: bank, NBFC or insurerThe line's own termsRule effective date
Ask Myra

Questions borrowers actually ask.

Answered from your documents, with the line, the calculation and what's still unconfirmed. Drafts an email to the lender when one would help; you send it.

Against shares and funds

Against an FD

Personal overdraft

Against a policy

Know what your line really costs.

Personal credit lines from banks, NBFCs and life insurers. Cash credit and business overdrafts aren't covered. The samples use invented lenders.

See a sample report
MMyraNest MoneyLens · Credit lines
Myra explains user-provided documents. Not investment, borrowing or insurance advice.