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  • State Bank of India (SBI) Loan against Shares is Rated as "Excellent!" by 411 Users

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    State Bank of India (SBI) Loan against Shares

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    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.

    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
      "Services are good and high on ROI"
      0.5 5.0/5 "Blown Away!"
      I have also taken a personal loan from State Bank of India and the process to get the loan is smooth. The documentation is a easy process and the disbursement on time. The interest rate is on the higher side. It was around 14% and the processing charges is also normal.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Oct 17, 2017
    • SBI Personal Loan
      "Its very hard to get the loan"
      0.5 1.0/5 "Really Bad"
      Practically it's nearly impossible to get a loan with State Bank of India. Even if you have a proper document, there would be some issue with the application. I believe instead of trying to get a loan from SBI, we could easily get the same from one of the private banks.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 16, 2017
    • SBI Personal Loan
      "SATISFACTORY"
      0.5 3.0/5 "Satisfactory"
      I had taken a personal loan with STATE BANK OF INDIA The process for my personal loan was smooth and on time. The rate of interest of STATE BANK was of 14.02%, it was a bit high. and the loan process is very fast. The service part was very good.
      Was this review helpful? 0
      , lucknow
      Reviewed on Oct 15, 2017
    • SBI Personal Loan
      "Good deal but need improvement on the services"
      0.5 2.5/5 "Just OK"
      I have taken a personal loan from State Bank of India. The experience was not up to the mark as the customer support was not very helpful. The processing charges was waived off as I am a corporate customer and the interest rate was reasonable when compared.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 15, 2017
    • SBI Personal Loan
      "Unhappy with the services"
      0.5 1.0/5 "Really Bad"
      I also have another experience with State Bank of India which was not satisfactory. When I approached them for a personal loan. I was told that I can submit the documents and towards the final stage I was told that I would not get the loan because I do not have a salary account with them and they also wanted a guarantor. So I refused the loan as I am a government employee and I could submit the documents needed but bank had conditions which was not relating for a personal loan.
      Was this review helpful? 0
      , jammu
      Reviewed on Oct 13, 2017
    • SBI Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The loan processing is very fast and quick with STATE BANK OF INDIA. As I had taken loan before 15 years. Its over All is good with Central bank be it service or processing and everything is absolutely fine with them.It was good before now it is not.
      Was this review helpful? 0
      , faridabad
      Reviewed on Oct 13, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      As I'm a long time customer with State Bank of India. I was offered a personal loan 12 years ago and I took the loan from State Bank of India. At that period all banks were providing personal loans for rate of interests around 16% to 18% but even at that period State Bank of India provided me the personal loan at 12% as rate of interest which is considered to be the lowest interest.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Oct 06, 2017
    • SBI Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with SBI.The loan amount was 7 lakhs and the rate of interest was 14.35% before and they have reduced it to 13.6% so satisfactory.The process was very easy and representative was supportive.They have sanctioned the loan with committed time.
      Was this review helpful? 0
      , jaipur
      Reviewed on Oct 06, 2017
    • SBI Personal Loan
      "Poor Service"
      0.5 2.5/5 "Just OK"
      I had applied another personal loan with State Bank of India earlier before this current ongoing personal loan with AXIS Bank. I have fully repaid this personal loan to State Bank of India. They offered me this loan with a rate of interest of 15.9% which is very high and the processing fees I don't remember exactly. They took so much of time for documentation and processing this loan. They also wanted a guarantor to avail this loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 05, 2017
    • SBI Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have the salaried account and savings account with SBI bank and STATE BANK OF BIKANER AND JAIPUR . I submitted document for the personal loan . Every thing went on smooth Customer service and the responsiveness are good with the bank.Rate of Interest is 13% Iam satisfied. Its been 2 years now for my PL.
      Was this review helpful? 0
      , jhunjhunu
      Reviewed on Oct 04, 2017
    • SBI Personal Loan
      "EXCELLENT"
      0.5 4.5/5 "Excellent!"
      This is about my SBI personal loan which I had taken against my credit card. The loan amount is 1.35 lakhs, service taxes were amounting to rs 4400. Rate of interest was 0.99% .EMI is 4400 this is for 3 years. Within 2 months my loan process would get completed . I had applied for this personal loan online and in the next 2 to 3 days of time my loan was sanctioned successfully.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 30, 2017
    • SBI Personal Loan
      "Rate of interest to be reduced"
      0.5 5.0/5 "Blown Away!"
      The process for the personal loan is good as they contacted me on time and informed me the details. I have taken it from State Bank of India and the customer services are good. The net banking is very fast. The statements are regular, only I'm not statisfied with the rate of interest. It is high compare to other bankers.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 29, 2017
    • SBI Personal Loan
      "Excellent bank account "
      0.5 5.0/5 "Blown Away!"
      The Sbi has disbursed my personal loan amount within the promised time. The rate of interest is nominal when compared with others. The required loan amount has been disbursed by SBI.This loan has the tenure of 10years. They give good service to the customers.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 29, 2017
    • SBI Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      SBI rate of interest is relatively high when it comes to personal loan. Rate of interest charged was 14.75% on the other side processing fee charged by them was high also there was no hidden cost. SBI is transparent almost we can find everything in paper nothing hidden. I would like to rate them 4 , my only suggestion for them would be they should provide a good interest for the personal loan.
      Was this review helpful? 0
      , delhi
      Reviewed on Sep 26, 2017
    • SBI Personal Loan
      "GOOD "
      0.5 4.0/5 "Great!"
      Over all it was a great service and an exellent service i am receiving from the bank when i applied for the personal loan in STATE BANK OF INDIA . The customer service was really good from the bank side. The only problem i had was the process took too much of exta time rest every thing was real good .
      Was this review helpful? 0
      , patiala
      Reviewed on Sep 26, 2017
    • SBI Personal Loan
      "Very good process"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with State Bank of India and the banking services are good. I got the loan as promised as the bank is consistent in the details. The process was also done on time and the after loan services are good. There were no hassles.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 25, 2017
    • SBI Personal Loan
      "DISSATISFIED"
      0.5 2.0/5 "Expected more"
      I have an salaried account here at SBI so getting better service and the interest rate I thot it will minimum SBI Bank offered me a personal loan with 14% I would suggest them to reduce that interest part but On the promised time I received the loan amount. I had taken this loan in 2014.
      Was this review helpful? 0
      , patiala
      Reviewed on Sep 24, 2017
    • SBI Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I am a customer of State Bank of India, so they have approved my personal loan within 3days of time. The required loan amount has been disbursed by State Bank. The rate of interest is nominal with SBI . I am happy with the SBI personal loan services.
      Was this review helpful? 0
      , imphal
      Reviewed on Sep 20, 2017
    • SBI Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The experience was good with SBI while taking my personal loan as they disbursed the loan within 1 week after submitting the documents. Interest rate offered was 11.9% . I visited the bank directly and completed the process . And it is for 5 years tenured i have taken this 2 years before.
      Was this review helpful? 0
      , madurai
      Reviewed on Sep 19, 2017
    • SBI Personal Loan
      "Best bank for rates"
      0.5 5.0/5 "Blown Away!"
      SBI is the best bank for the rates. However customer service is not good when it comes to SBI. The bank has offered an amount of 2.5 lakhs also the processing fee charged by them was very good. Even foreclosure and part payment options were good at SBI. Its an ongoing loan also foreclosure charges were very minimal it was amounting to rs 1200 to rs 1300.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 19, 2017
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