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.
This will be a demand loan
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.
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%) |
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
Yes, you can apply for this loan via the State Bank of India website.
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