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

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.45% - 14.95% Fixed
    2% to 3% + S.T. One time fee
    25 times of monthly salary
    1-4 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria
    Personal Loan BYTES FROM OUR KITCHEN

    State Bank of India 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.

    Where is the purpose of SBI for subscription to IPOs?

    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 for State Bank of India Loan for subscription to IPOs?

    Eligibility criteria for State Bank of India (SBI) loan for subscription to IPOs:

    • 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

    What is the maximum amount of loan I can avail?

    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.

    What is the rate of interest on State Bank of India Loan for subscription to IPOs?

    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%)

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

    Documents required by the bank will be:

    • 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.

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