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  • State Bank of India (SBI) Loan against Shares is Rated as "Excellent!" by 534 Users

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    State Bank of India (SBI) Loan against Shares

    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. State Bank of India provides a specialised loan that aims to change that norm. 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 SBI Loan against Shares

    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 investments made by the applicant, this loan is a powerful aid in financial terms.

    Apply for Personal Loan

    Eligibility Criteria for State Bank of India Loan against Shares

    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 must be Indian residents and existing customers of State Bank of India with DEMAT accounts with SBICap Securities Limited
    2. Applicants should be at least 18 years of age when the loan is sanctioned. Shares in the name of minors, trusts, partly paid up shares or shares in the name of individuals who are directors or promoters of the same holding company are not allowed
    3. The acceptable securities that can be pledged are dematerialised equity shares (loan to 50% of market value), mutual funds (loan up to 50% of net asset value)

    Types of Financing under State Bank of India (SBI) Loan against Shares

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

    Loan limits under State Bank of India Loan against Shares

    Based on the credit-worthiness of the applicant, validity of documents and the market value or NAV of the pledged securities, State Bank of India can provide loans based on its discretion. The minimum amount of loan that can be sanctioned is INR 50000 and the maximum limit is INR 20 lakhs. In case loans are being availed for subscribing to IPOs, the maximum amount of loan will be INR 10 lakhs. The portfolio of securities is assessed regularly and based on the performance, loan limits might be revised.

    Interest rates for State Bank of India (SBI) Loan against Shares

    Interest rates for a Loan against Shares 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 + 3% per annum, i.e. 12.30% 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 Shares

    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 Shares

    The Loan against Shares 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 shares act as security)
    4. Loan amounts are variable as per the performance of the shares

    Applying for State Bank of India Loan against Shares

    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 (SBI) Loan against Shares through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.

    State Bank of India (SBI) Loan against Shares Reviews

    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting this loan has been good and the loan amount which they had provided also had been good. There has not been any sort of additional charges made by them and the processing fee has been good. There has not been any interest rate has also been good as well when compared with the market rate.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Oct 19, 2018
    • SBI Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken from the STATE BANK OF INDIA and it got approved very quick also the process of getting the loan is is easy and good. I have got the sufficient amount of personal loan. The service is good and responsive also added on that it is good to use.
      Was this review helpful? 11
      , chennai
      Reviewed on Oct 15, 2018
    • SBI Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It was a good experience i had in getting this personal loan from them where the process has not been bad. I was happy with the loan amount which they had provided and the interest of 11% with them has been nominal when compared with the market rate. Even the manager from the branch had been very much helpful and has been responsive during the process.
      Was this review helpful? 5
      , new delhi
      Reviewed on Oct 11, 2018
    • SBI Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with STATE BANK OF INDIA , they charge 11.75% interest rate and it is nominal compare to others . The tenure period is 5year and loan amount what they provide was satisfactory . Customer support and their follow up is good with this bank .
      Was this review helpful? 7
      , coimbatore
      Reviewed on Oct 09, 2018
    • SBI Personal Loan
      "Excellent Service"
      0.5 4.5/5 "Excellent!"
      It has been a very good experience i had with this loan and the loan amount which they had provided had been satisfactory as well. The interest rate with the has been 13% which has been nominal when compared with the market rate. There has not been any sort of additional charges which they had been made so far. Their customer support also had been helpful at times.
      Was this review helpful? 8
      , new delhi
      Reviewed on Oct 02, 2018
    • SBI Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with SBI and my loan experience was good, the loan amount was for Rs 2 lacs with nominal interest rate when compared to other banks. Customer service was good and they responded on time. There are no charges on preclosure for this loan.
      Was this review helpful? 9
      , kolkata
      Reviewed on Oct 01, 2018
    • SBI Personal Loan
      "Hassle free"
      0.5 4.0/5 "Great!"
      I have taken a personal loan couple of years back and the loan is closed too. It is from State Bank of India. The customer services and response is good and the process is fine. The rate of interest and processing fees are also normal. In all no issues.
      Was this review helpful? 8
      , hyderabad
      Reviewed on Sep 27, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with SBI and my loan experience was very good. The process was smooth and i received my loan amount on time. Customer service is good and they responded on time. The tenure period for this personal loan is 5 years.
      Was this review helpful? 9
      , secunderabad
      Reviewed on Sep 19, 2018
    • SBI Personal Loan
      "SBI PROVIDED EASY PERSONAL LOAN TO SALARIED IN SHORT PERIOD"
      0.5 4.5/5 "Excellent!"
      Taking personal loan form SBI is very good for taking in a short period and have good communication with Bank staff and cooperative.Interest rate is also valid and i have taken more than 04 times personal loans from state bank of India.thanks.
      Was this review helpful? 5
      , champawat
      Reviewed on Sep 18, 2018
    • SBI Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      I have taken housing loan through SBI , the customer service sis good and i did not face any issue at the time of documentation time . There is no hidden charges with this bank and tenure period is 30year . Loan amount is up to the mark . Processing fee is 1000 rs .
      Was this review helpful? 8
      , jaipur
      Reviewed on Sep 07, 2018
    • SBI Personal Loan
      "Good service "
      0.5 4.0/5 "Great!"
      Got my personal form State bank of India, as the rate of interest is nominal one . Making the payments through Ecs . Got approved as instant approval process. There is no processing fees for the personal loan with tenure period of 4 years . Their customer service and response is good regarding personal loan.
      Was this review helpful? 5
      , bangalore
      Reviewed on Sep 05, 2018
    • SBI Personal Loan
      "Good Banking Service"
      0.5 4.0/5 "Great!"
      I have take personal loan from the sbi which they approved and the amount is reflected in next day ,its instant approve process. As am satisfied with the rate of interest which is quiet nominal one They provided the tenure period of 48 months and i make the payment monthly though ECS.. There is no processing fees also, i have closed this loan
      Was this review helpful? 7
      , hyderabad
      Reviewed on Sep 05, 2018
    • SBI Personal Loan
      "Not a good expereince"
      0.5 2.0/5 "Expected more"
      I have taken a personal for 3 Lacs from the SBI, the experience wasn't good, there were too many formalities and it was also time consuming. They need to ensure a timely approval and processing when it comes to personal loan.
      Was this review helpful? 6
      , mumbai
      Reviewed on Aug 29, 2018
    • SBI Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with SBI and the experience with this bank is pretty good , i did not face any issue at the time of documentation even the process was very quick . Tenure period is 5year and rate of interest is 9% and it is satisfactory . Processing fee is free and i use to pay EMI 15000 per month .
      Was this review helpful? 6
      , hyderabad
      Reviewed on Aug 26, 2018
    • SBI Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from Sbi bank . Am satisfied with the rate of interest which they have provided . There is no processing fees for the loan which is nominal one. I make the payments through Ecs every month . They gave the tenure period of 4 years . They did quick documentation and received the loan.
      Was this review helpful? 10
      , bangalore
      Reviewed on Aug 22, 2018
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with SBI 5 years back.The loan amount was 3 lakhs and he interest rate was quite satisfactory . The customer service and responses was good. The tenure period was 5 years . I had a smooth documentation here and but they have taken much time for the process.
      Was this review helpful? 5
      , bangalore
      Reviewed on Aug 14, 2018
    • SBI Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have take personal loan from the sbi which they approved in 2-3 day and the amount is reflected in next day ,its instant approve process. As am satisfied with the rate of interest which is quiet nominal one They provided the tenure period of 1-5 year and i make the payment monthly though ECS.. There are no processing fees also.
      Was this review helpful? 10
      , hyderabad
      Reviewed on Aug 13, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience with SBI for personal loan was good, the loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 5 years.
      Was this review helpful? 9
      , hyderabad
      Reviewed on Jul 31, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It has been a very good experience with them and i had taken this loan almost 4 months back and the process in getting this loan had been simple and easy. The loan amount which they had provided had been satisfactory. The interest rate with them also had been nominal of 14.4% and the customer support and the staff response had been good as well.
      Was this review helpful? 9
      , chennai
      Reviewed on Jul 26, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have take personal loan from the sbi which they approved in 2-3 day and the amount is reflected in next day ,its instant approve process. As am satisfied with the rate of interest which is quiet nominal one They provided the tenure period of 10-15 year and i make the payment monthly though ECS.. There are no processing fees also.
      Was this review helpful? 5
      , mumbai
      Reviewed on Jul 25, 2018
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