This loan product is a scheme which will provide short term finance to those who require it against their Debt Fund schemes of Fixed Maturities (FMPS).
Loan amount can be used for necessities and personal needs of an individual. The loan amount cannot be used to boost sales of another mutual fund. And cannot be used to purchase share and debentures or any other purposes which are speculative in nature.
Eligibility criteria for SBI Loans against units of SBI Debt Fund Series:
Even a Non Resident Indians holding a valid Indian passport with a steady source of income can apply for this loan.
This will be a short term or medium term loan, the margin on the loans will be
The loan amount will be at a minimum of Rs. 10, 000 to maximum of Rs. 20 lakhs.
The base rate 9.3%
|The scheme details||Interest Rate|
|Equity Plus Scheme||15.80% per annum (BR = 9.3% + 6.50%)|
|Loans against Shares||12.30% per annum (BR = 9.3% + 3.00%)|
|Loans against Debentures||15.80% per annum (BR = 9.3% + 6.50%)|
|Loan to employees to subscribe for ESOPs||15.80% per annum (BR = 9.3% + 6.50%)|
Documents required by the bank will be:
You can apply for this loan against State Bank of India Loans against units of SBI Debt Fund Series from the nearest State Bank of India branch or apply via their website. All you need to do is login with your details and then fill in the online application form
Yes, you can apply for this loan via the State Bank of India website.
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