Multiple banks. Different interest rates. Call it a "conflict of interest".
  • SBI Loan against Debentures is Rated as "Excellent!" by 585 Users

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    SBI Loan against Debentures

    State Bank of India provides a specialised loan that aims to cash in on the value of debentures owned by any apologies. This loan from State Bank of India allows individuals and non-individuals to utilise the power of their investments without having to lock out of or liquidate them. These loans can help out in business or personal financial needs.

    Usage of State Bank of India (SBI) Loan against Debentures

    This loan is provided to individuals or non-individuals for any purpose that is not explicitly speculative, for inter-corporate investments or for acquiring controlling interest in any company or set of companies. Banking on the power of the debentures owned by the applicant, this loan is a powerful aid in financial terms.

    Eligibility Criteria for State Bank of India Loan against Debentures

    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 –

    1. Applicants can be individuals, professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies) and customers of State Bank of India

    2. Applicants should be at least 18 years of age when the loan is sanctioned

    3. Margin amount of 50% of the prevailing market prices of the non-convertible debentures are to be provided

    Types of Financing under State Bank of India Loan against Debentures

    Loan against Debentures from State Bank of India (SBI) is a specific demand loan with optional overdraft facility.

    Loan limits under State Bank of India Loan against Debentures

    Based on the credit-worthiness of the applicant, validity of documents and the debentures offered a security, State Bank of India can provide loans based on its discretion. The maximum limit of loans to be offered is INR 20 lakhs.

    The scheme is offered currently at 50 centres of the bank.

    Interest rates for State Bank of India Loan against Debentures

    Interest rates for a Loan against Debentures could depend on the base lending rate and is based on the discretion of State Bank of India. As of November 2015, the applicable rate of interest is Base Rate + 6.5% per annum. Further changes to the rates could be done by State Bank of India as and when required.

    Interest is charged only on the amount that is actually utilised as a loan in case of overdraft facility, irrespective of the overdraft limit that is allowed. Overdrafts are annually renewable, while demand loans are to be repaid within 30 months.

    Documentation required during applying for SBI Loan against Debentures

    The standard list of required documents for applying for this loan are mentioned as follows –

    1. Photographs of individual applicant and/or co-applicant, directors and promoters, in case of a company & trusts, partners in case of a partnership firm or authorized person as applicable in case of societies

    2. IT Returns, audited profit and loss account statement and balance sheet for the last 2 years, six months bank statement of the primary current account and business proof

    3. Know Your Customer (KYC) documents

    4. Partnership deed, Memorandum of Association (MOA) and Articles of Association (AOA) or License issued under the Shops and Establishments Act of the respective states for business proof in case of non-individuals

    The above set of documents comprise the minimum required list. To aid in credit approval, State Bank of India might ask for extra documents if necessary.

    Features of State Bank of India Loan against Debentures

    The Loan against Debentures from State Bank of India is a good financing option for urgent financial needs on business or personal grounds.

    Some key features of this specialised loan are as follows –

    1. Loan tenure or repayment period is annual and renewable per year

    2. Minimal documentation and faster approval

    3. No security or collateral required (pledged debentures act as security)

    4. Loan amounts are variable as per the performance of the shares

    Applying for State Bank of India Loan against Debentures

    The loan can be applied for through State Bank of India’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 State Bank of India requesting an executive assistance for application process.

    One can also apply for State Bank of India Loan against Debentures through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.

    State Bank of India (SBI) Loan against Debentures Reviews

    • SBI Personal Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I have take personal loan from the sbi which they approved in few days and the amount is reflected in next day ,its instant approval process. As am satisfied with the rate of interest which is nominal one .They provided good tenure period .and i make the payment monthly though ECS.. There is no processing fees also,
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 23, 2019
    • SBI Personal Loan
      "Need to reduce ROI"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with SBI and my experience was good, the loan amount was sufficient and the rate of interest was high when compared to other banks. Customer service was good and they responded on time. Tenure period for this loan is 3 years.
      Was this review helpful? 2
      , chennai
      Reviewed on Jan 21, 2019
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my personal loan with State bank of India, there service is Excellent, they have given me sufficient loan amount, and the rate of interest they have charged me was nominal they have charged me up to 15%, and i am happy and even processing fee they have charged is nominal, there are no hidden charges,i will appreciated them that they do not call me much,they give me my own space. The overall service provided by them is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 21, 2019
    • SBI Personal Loan
      "Process should be faster"
      0.5 4.0/5 "Great!"
      I am a salary holder of SBI, based on the transaction I got the personal loan. The rate of interest was around 12% it was higher for the existing customer. The customer response is good, on time I got the loan amount. But still its not so faster like private banks.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Jan 21, 2019
    • SBI Personal Loan
      "Charges are high"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from State Bank of India. The services and the process is good. The bank is also high on the GST and processing charges. The rate of interest is also high and they need to work on that. I received the loan in two days. Good in all.
      Was this review helpful? 2
      , pune
      Reviewed on Jan 18, 2019
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had applied for a Personal loan with SBI and i am happy with the services whatever i have experienced. The interest rates are very reasonable when compare to the market value. There was not much documentation as i carry a savings account in SBI.
      Was this review helpful? 1
      , secunderabad
      Reviewed on Jan 18, 2019
    • SBI Personal Loan
      "Good in Service"
      0.5 4.0/5 "Great!"
      I had taken a personal loan with SBI and as i hold a account in SBI it was easy to get things done in SBI. There was not much documentation and only my salary statement was required and my application was processed on time. The interest rate were 14% and i am pretty much satisfied with SBI Services.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 13, 2019
    • SBI Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken this loan almost two months back and the experience was quite good. But the interest rate with them was around 16% and there has been 1% processing fee, where i feel that comparatively its pretty high. The loan amount has been sufficient and there has not been any sort of charges additionally which they had made.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jan 11, 2019
    • SBI Personal Loan
      "Good in Service"
      0.5 5.0/5 "Blown Away!"
      At the time when i was looking for a personal loan i had applied in SBI bank . As i hold a salary account in SBI it was easy for me to apply for a loan. The interest rates that i had on my loan amount was reasonable and i am pretty much happy with the services.
      Was this review helpful? 4
      , kolkata
      Reviewed on Jan 11, 2019
    • SBI Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with State Bank of India. The rate of interest is of 12.5% and the processing charges is minimum too. The whole process took four days. The after loan process is good and the documentation was also taken on time. Hassle free in all.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jan 09, 2019
    • SBI Personal Loan
      "Instant Approval"
      0.5 5.0/5 "Blown Away!"
      I already have personal loan with SBI , its going to close, the total amount was Rs. 2 lakhs, now I need to pay the remaining amount around Rs. 1 lakh, The customer support and response is good. The tenure period for 5 years on my personal loan, the documentation is good and simple when the documents are clear, they gave me the good follow and support.
      Was this review helpful? 3
      , kanpur
      Reviewed on Jan 05, 2019
    • SBI Personal Loan
      "Very Nice Personal loan"
      0.5 5.0/5 "Blown Away!"
      My personal loan was purchased from State bank of India. Since my salary account is with SBI hence i have selected the same bank. I bought the loan amount of Rs. 10 lakhs. They have offered me a interest rate of 10.99% and the processing fee was Rs. 4500. 2 years ago i took this loan. I pay the premium amount of Rs. 21750. I have to pay the EMI for 5 years.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Jan 03, 2019
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with SBI and my experience was good, the process was smooth and i received my loan amount on time. Customer service was good with SBI and their follow up was on time. Tenure period for this loan is for 4 years.
      Was this review helpful? 5
      , new delhi
      Reviewed on Jan 03, 2019
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I took my personal loan from SBI for which is also a smooth experience. The application process and documentation was smooth and hassle free. I never had any issues with the loan application. Overall it is a recommendable service. Processing fee is nominal .
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 30, 2018
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my personal loan with State bank of India, there service is Excellent, they have given me sufficient loan amount, and the rate of interest they have charged me lowest and i am happy and even processing fee they have charged is low, there are no hidden charges, overall service is good.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 24, 2018
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience with this loan has been quite good and the loan amount which they had provided has been sufficient and satisfactory as well. The interest rate with them has been nominal and there has not been any sort of additional charges which they had made or there has not been any processing fee with this loan as well.
      Was this review helpful? 0
      , rajahmundry
      Reviewed on Dec 22, 2018
    • SBI Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      My experience with SBI for personal loan was average, the loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was not up to the mark with this bank and tenure period is 5 years.
      Was this review helpful? 5
      , bhubaneshwar
      Reviewed on Dec 20, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with State bank of India, there service is good, they have given me sufficient loan amount , and the rate of interest they have charged me was nominal, and even processing fee they have charged me was nominal,overall service is good.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 19, 2018
    • SBI Personal Loan
      "Good in Services"
      0.5 5.0/5 "Blown Away!"
      I had taken a Personal loan with SBI bank and i would say they were good in services. I never had any complaint with the services. When i had submitted the application, it was processed on time. There was no delay and overall i carried a good experience. The loan has been closed.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 19, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      It had been a good experience with this loan experience with this loan and the whole process went smooth and simple. Within a short period of time they had given me this loan and there has not been any problem and there has not been any sort of additional charges which they had made.
      Was this review helpful? 8
      , kolkata
      Reviewed on Dec 14, 2018
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