Why sell securities if you can simply draw a loan against them? Take maximum benefit of loan against securities which comes with the advantage of paying interest only on the amount and duration of loan used. Loan against Securities (LAS) is a unique Overdraft Facility provided against the pledge of securities.
LAS is available against the following securities :
- Dematerialized Shares
- Mutual Funds (Equity/Debt)
- Fixed Maturity Plans (FMP)
- Exchange Traded Funds (ETF)
- Insurance Policies (LIC/Pvt)
- NSC / KVP
Features & Benefits :
- Easy access: Separate current account with Cheque book & Internet Banking Facility.
- Repayment: Pay back the principal amount used in parts or as a lump-sum conveniently. Interest statement generated every month and payable monthly.
- Interest: Interest charged only on amount outstanding and for the same number of days.
- Sale of pledged shares: Facility can be availed to sell pledged shares.
- No foreclosure charges: There are no pre-payment or foreclosure charges.
- Two copies of PAN card.
- Two copies of latest passport size photographs
- Two copies of address proof
- One copy of latest holding statement of shares
- One copy of client Master List
- Last 3 months’ bank statement