There are many individuals who require a loan but due to the absence of any property they are unable to avail it. So what is the next best option for them? - Loan against securities. The purpose of this loan is the same as loan against property that it allows people in dire need of money to avail a loan. The difference however is that instead of a property as a collateral, they pledge their securities which can include mutual funds, shares, securities, bonds etc.
The biggest benefit here is that not only are such loans disbursed quickly but it also comes in handy in situations where applicants do not want to liquidate their financial assets. Applicants can look forward to loans of up to Rs. 10 crores from many lenders including NBFCs (Non-Banking Financial institutions).
However, during the application process most applicants tend to worry the most about is the documentation. It is worth noting that the documentation needed for applying for loan against securities are the basic KYC ones such as Aadhaar Card, Pan Card, or a copy of your driving licence. In addition, you will require proof of securities, address proof and passport-sized photographs. Thus, the documents needed are of a very basic nature.
As for eligibility, one needs to be at least 21 years of age, be a citizen of India, be salaried or self-employed with a regular source of income. There are other conditions too but they too are very basic in nature and vary depending on the lender from whom you are availing the loan.
To know more about the documents needed or the eligibility criteria of the financial institution from where you want to avail your loan against security, make sure you visit their website to have all the information and make a decision.
For more information related to documentation and application read, full blog here: Documents Required to Get Loan Against your Financial Securities
The biggest benefit here is that not only are such loans disbursed quickly but it also comes in handy in situations where applicants do not want to liquidate their financial assets. Applicants can look forward to loans of up to Rs. 10 crores from many lenders including NBFCs (Non-Banking Financial institutions).
However, during the application process most applicants tend to worry the most about is the documentation. It is worth noting that the documentation needed for applying for loan against securities are the basic KYC ones such as Aadhaar Card, Pan Card, or a copy of your driving licence. In addition, you will require proof of securities, address proof and passport-sized photographs. Thus, the documents needed are of a very basic nature.
As for eligibility, one needs to be at least 21 years of age, be a citizen of India, be salaried or self-employed with a regular source of income. There are other conditions too but they too are very basic in nature and vary depending on the lender from whom you are availing the loan.
To know more about the documents needed or the eligibility criteria of the financial institution from where you want to avail your loan against security, make sure you visit their website to have all the information and make a decision.
For more information related to documentation and application read, full blog here: Documents Required to Get Loan Against your Financial Securities
Alisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health.
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