Mostly, investments in shares and mutual funds are useful keeping a long-term goal in mind and instant liquidity options are few and far between. Dhanlaxmi Bank provides a specialised loan that aims to change that norm. This loan from Dhanlaxmi Bank allows individuals and non-individuals to utilise the power of their investments without having to lock out or liquidate them. These loans can help out in business or personal financial needs.
This loan is provided to individuals or non-individuals for any purpose that is not explicitly speculative. Banking on the power of the investments made by the applicant, this loan is a powerful aid in financial terms.
An unsecured loan as this has a few eligibility criteria to be met in order for the bank to be able to sanction the loan. The eligibility requirements can be mentioned as follows –
Loan against Securities from Dhanlaxmi Bank is a specific term loan with optional overdraft facility.
Based on the credit-worthiness of the applicant, validity of documents and the market value or NAV of the pledged securities, Dhanlaxmi Bank can provide loans based on its discretion. The portfolio of securities is assessed regularly and based on the performance, loan limits might be revised.
Interest rates for a Loan against Securities could depend on the base lending rate and is based on the discretion of Dhanlaxmi Bank. Further changes to the rates could be done by Dhanlaxmi Bank as and when required.
Interest is charged only on the amount that is actually utilised as a loan, irrespective of the overdraft limit that is allowed.
The standard list of required documents for applying for this loan are mentioned as follows –
The above set of documents comprise the minimum required list. To aid in credit approval, Dhanlaxmi Bank might ask for extra documents if necessary.
The Loan against Securities from Dhanlaxmi Bank is a good financing option for urgent financial needs on business or personal grounds.
Some key features of this specialised loan are as follows
The loan can be applied for through Dhanlaxmi Bank’s website, as well as forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail Dhanlaxmi Bank requesting an executive assistance for application process.
One can also apply for Dhanlaxmi Bank Loan against Securities through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.