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  • Axis Bank Loan against Securities

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  • This loan is provided to individuals as an overdraft against a list of securities. This loan can be used for your personal needs, and can be taken with the only against a list of securities.

    What is the eligibility criteria?

    • Eligibility conditions for this loan, any individuals are eligible to apply. The applicant should be above the age of 21 years at the time of application. And also meet the below criteria for specified securities.
    • Loan against Mutual Fund – Resident Indians & NRI
    • applicant should be above 18 years of age at the time of application
    • Loan against Debt Mutual Fund – Resident Indians, NRI, HUF, Sole
    • Proprietorship, Partnership firm, Pvt. Ltd. Company
    • Loan against Listed Bonds / NCD
    • Loan against Life Insurance Policy – Resident Indians only

    Maximum loan amount

    The loan amount can be any amount between Rs. 1,00,000 to Rs. 20,00,000.

    Interest Rate

    Amounts Interest Rate
    Rs. 10, 00, 000 - Rs. 20, 00, 000 11.50% - 12.50%

    What are the documents required?

    Documents required will be proof of identity, income, residence, bank statement of the last 6 months, holding statements of the securities involved, pledge creation form, and if they securities are held jointly then a guarantor form as well.

    What are the terms for Axis Loan against Securities?

    1. The loan is provided for a period of 12 months
    2. Pledge creation form to the value of the shares from the approved scrip list.
    3. Processing fee of 0.15% of the loan amount, and standard taxes and charges like stamp duty will be applicable as well.
    4. The loan amount will only be disbursed after the documents are submitted along with the pledge
    5. The margin requirement will be reviewed on a regular basis.
    6. The applicant will need to provide the bank with details on the change of job or home address if any.

    How do I apply for this loan?

    The application form can be downloaded from the website, but you will also need to visit the branch nearest to you with the form and related documents.

        

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