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Loan against Securities .pdf



Original filename: Loan against Securities.pdf
Title: Loan against Securities
Author: prasad.v

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Loan against Securities

Loan against Securities definition
• Loans neighboring to shares or securities are a loud mannerism of raising
capital behind one is in need of funds. These types of loans are sound by
banks in the form of overdraft neighboring to the shares held by the
customer. The biggest lead of this is that it enables the customers to
acquire instant liquidity without selling their securities and as soon as one
repays the debt he or she gets sustain the shares from the bank
consequently there is no liquidation of stocks.
• The valuation of this type of modernize is quite tricky because of the
constant change in the price of securities as the price of shares save
changing very about day to day basis and consequently depending upon
the bank policies the percentage of loan unchangeable (ranges
surrounded by 50 to 70 percent of quantity value) is less as compared to
influence on adjoining property.

Eligibility??
• Only individuals (Resident Indians as well as NRIs are eligible
to apply)
• Applicant should be above 18 years of age at the time of
application

Documents Required.
• Voter's ID card or driving license or PAN card or employees ID
card or government department ID card
• Account statement or latest electricity bill or latest mobile or
telephone bill or latest LIC policy or insurance premium
receipt or existing house lease agreement
• Latest statement of holding
• Guarantor form Optional. (Mandatory in case of jointly held
demat holding)
• Mandatory for creation of pledge

FAQ’S
1) What are the other benefits that I can get from my Loan Against Securities Account?
Ans. All the benefits that we offer on the Current Account are also applicable to the Overdraft
account. This includes facilities like Phone Banking, Net Banking, Bill Pay and ATM. As a
privileged Loan Against Securities customer, you will be entitled to our FREE International
Debit Card.(only for the first holder)
2) Is my overdraft limit fixed?
Ans. This will completely depend on the market rate of the securities that you have pledged. Of
course, we will value your portfolio periodically to determine your overdraft limit. You can
increase your overdraft limit by pledging more shares/securities , or decrease it by
withdrawing them – that's completely up to you
3) Is there any charge in the LAS Account if there are no limits?
Ans. Yes, for accounts with no limits in a month a Zero Limit charge of Rs. 1000 plus taxes for that
month is levied. For details of other charges levied in LAS accounts
4) How can I get my securities released?
Ans. Please submit a security release request letter mentioning certificate numbers, the FAS
account number (Agreement number), the Overdraft account number (signed by all the
account holders) and the respective security holder. This letter needs to be submitted at any
of our Loan Against Securities desks or to a branch that has a Loan against securities facility


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