Loan Against Securities

Avail loan against securities for upto 85% of security value.

Get loan against securities at rate of interest starting 10.50% only.

Against the pledge of the following list of approved securities:

• Equity Mutual Fund units – Facility limit upto 60% of NAV (Net Asset Value)
• Equity Shares : Get Limit up to 50% of shares value
• Capital Protection Oriented and Hybrid Mutual Fund units – Facility limit upto 60% of NAV (Net Asset Value)
• Debt Mutual Fund units – Facility limit upto 85% of NAV
• Listed Bonds / Non-Convertible Debentures - Facility limit upto 70% of market price
• Life Insurance Policies

Interest charged only on the amount utilised – no EMI or post dated cheques required.

Nil pre-payment charges on loan against securities.

ATM and cheque book facilities available

Facility Tenure

• Overdraft facility is granted for 12 months. This is reviewed and renewed at annual rests.

Penalty for early closure

• Nil

• Bank reserves the right to reject any application / renewal without assigning reasons thereof. It shall be the sole right of the Bank to consider the proposal on case to case basis after taking into consideration the credentials/credit worthiness of each of the customers.
• No loan under this scheme is granted for investment in capital market instrument or for speculation purpose.
• The overdraft facility shall be disbursed / renewed only after all the required documentation and pledge creation formalities are complete.
• The margin requirement will be reviewed regularly. In the event of any volatile fluctuations in the prices of the units, the client shall make good the shortfall, if any, within four days, failing which the security will be enforced.
• The applicant will undertake to inform the Bank as and when there is a change in address or employment.

The Terms & Conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank's discretion.

All of the above is subject to Terms & Conditions.