What You Must Know About Loan Against Securities?

Loan against securities is usually provided as an overdraft facility in the account when you deposit your securities. It lets you withdraw funds from the account and pay interest only on the amount used for a certain period. It is a wise move especially when you are in need of funds and you do not wish to break off your investment.

Know the eligibility criteria for this loan - 

Opt for loan from leading NBFCs as they are highly experienced institutions which understand your need for funds. Thus, the loan against securities is available on an easy-to-meet eligibility criteria which states that-

• The applicant must be a resident citizen of India
• They must be at least 21 years of age
• The applicant must be a salaried or self-employed professional with a regular source of income

The process requires basic paperwork which is as below - 

• KYC documents
• Address proof (Aadhaar card)
• Proof of securities pledged as collateral
• Passport size photograph

Lenders offer high value loan amount up to Rs. 10 crores against the securities. You can easily apply for the loan against securities online by filling up a simple e-form at the lender’s website. Their representative will request for paperwork and upon their verification you can avail instant approval with quick disbursement.

Read More Here: From interest rate to eligibility criteria: All you need to know about Loans Against Shares