At times when you need urgent finances without having to break your investments you may opt for loan against shares. A comprehensive list of securities which can be used to avail the loan are shares, mutual funds, FMPs, IPOs, Bonds and ESOPs. These can be pledged as collateral for the loan.
Once you apply for the loan against shares online by filling up a simple application form your lender’s Relationship Manager will get in touch with you. They will understand your requirement and ask you for basic documentation. The loan can be used to take care of several personal and professional finances such as setting up business, running business operations, buying equipment, manage wedding expenses, fund education and so on. While, basic documents required are ID proof, address proof, document proof of securities and passport size photograph.
On verification of documents you may get the loan disbursed within 24 hours. You may request for an online account to manage your loan. Receive your login details from the Relationship Manager and keep track of repayments, interest rate and amount paid off. Digitally accessing your account helps you keep tab of loan from anywhere anytime at your convenience without having to depend on the representative.
In case, you want to pay the loan before its due date you can easily do so. Most financial institutions and NBFCs would be happy to assist you without charging anything extra. Overtime, a foreclosure will benefit your credit score and you will be able to avail loans as per your financial needs.
Read More :- Avail Loan Against Shares to Fulfill Your All Needs
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