• State Bank of India (SBI) Loan for Subscription to IPOs

    This loan product is a scheme which will provide finance funding to subscribe to IPOs of PSUs and Public Limited Company. Loan amount can be used for funding and helping an individual to subscribe to IPOs of PSUs and Public Limited Company. The loan amount can be used to purchase share and debentures of PSUs and Public Limited Company.

    What is the eligibility criteria?

    • Any customers having enough sources of income/cash flows to repay the loan within with the time period suggested by the bank.
    • The applicant should provide IT returns of the last 2 years
    • Proof of identity.
    • Existing customers who previously applied for loans like home, car, education loans etc, wherein the existing loan doesn’t have any arrears at the time of application at the time of the IPO loan.

    What are the types of financing available?

    This will be a demand loan

    Maximum Loan Amount

    The loan amount will be at a minimum of Rs. 1,00,000 and maximum of Rs. 10,00,000 to the extent of Reserve Bank of India instructions.

    Interest Rate

    The base rate 9.3%,

    The scheme details

    Interest Rate

    For employees who qualify for xpress credit

    15.80% per annum (BR = 9.3% + 6.50%)

    For others

    16.30% per annum (BR = 9.3% + 7.00%)

    Documents Required

    • Completed loan application
    • 3 Passport size photographs
    • Proof of identify
    • Proof of residence
    • Original Salary Certificate from employer - in case of salaried individuals
    • TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Dep’t - - in case of salaried individuals.

    What are the terms for State Bank of India Loan for subscription to IPOs?

    • The loan should be repayable within a 30 day period from allotment
    • There will be a 50% margin of the issue price of the share applied for as per the RBI.
    • The processing fees is 0.51% of the loan amount. The minimum of Rs. 511 for the 1st application and subsequent 3 loans will be Nil.

    How do I apply for this loan?

    You can apply for this loan against State Bank of India Loan for subscription to IPOs 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

    Can I apply for State Bank of India Loan for subscription to IPOs online?

    Yes, you can apply for this loan via the State Bank of India website.

    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.

    This Page is BLOCKED as it is using Iframes.