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. IDBI Bank provides a specialised loan that aims to change that norm. This loan from IDBI Bank allows individuals and non-individuals to utilise the financial support of their investments without having to cancel out the investments or liquidating 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 business loan as this has a few eligibility criteria to be met in order for the financial institution to be able to sanction the loan. The eligibility requirements can be mentioned as follows –
Loan against Securities from IDBI 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, IDBI Bank can provide loans based on its discretion.
Interest rates for a Loan against Securities could depend on the base lending rate and is based on the discretion of IDBI Bank. Further changes to the rates could be done by IDBI Bank as and when required.
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, IDBI Bank might ask for extra documents if necessary.
The Loan against Securities from IDBI 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 IDBI 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 IDBI Bank requesting an executive assistance for application process.
One can also apply for IDBI Bank Loan against Securities through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.