A Quick Guide on Loan against Securities

With time traditional bank loans have become costly therefore, the lenders are coming up with new options to allow meeting intermediate cash flow requirements of customers. A loan against shares is one such facility that is provided by banks and NBFCs against certain securities owned either by the borrower’s relatives or the borrower himself. For instance, if you are provided with a loan against securities of worth Rs. 2 lakhs and in case, you withdraw Rs. 50,000 and deposit the money back into account within a month. In that situation, you will be charged interest for just one month on Rs. 50,000.

Some of the steps to be followed are mentioned below:

In order to avail loan against shares, all you got to do is fill the application form with

personal details of the borrower and of securities to be undertaken.
The documents required for the loan against securities are identity proof, address proof,

signature proof, IT returns of concerned company/proprietorship/partnership firm,

audited balance sheet and Profit & Loss account for the previous two years.
In order to be eligible for this particular loan, the applicant either has to be Indian resident,

NRI or owner of a private trust, partnership firm, sole proprietorship, and private limited or public limited company.

Comments

What are the Benefits of Unsecured Business Loan?

Whether it is a big firm or small, the success of the business is always determined by the soundness of its financial status. Thus, it becomes imperative for business owners to arrange enough finance to meet numerous daily and unplanned expenditure of their business. In the competitive market, one can require funds anytime and delay in arranging funds can hamper the work. In such a situation, it is better to manage desired finance with the help of unsecured business loan as it can be availed with no collateral and easy documentation. With so many banks/NBFCs offering unsecured business loan at lower interest rates, it becomes tough to select anyone. It is here that IndiakaLoan comes into the picture as it is one of the most preferred collateral-free unsecured business loan providers. Some of the benefits you can avail from IndiakaLoan offerings: It provides loan for every type of enterprise venture with cash credit limit ranging from Rs 10-40 lakhs to support busi...

How do banks decide on your loan eligibility?

When the person applies for any type of loan, whether it is personal, home or mortgage, one thing that the financial institution looks for is the ability to repay the amount. To be on the safer side, the applicant can make use of loan eligibility calculator as it works on mathematical formula to assess the needed loan amount. Moreover, it is the easiest and fastest way to check your loan eligibility online. Although, it takes various factors into consideration such as net monthly salary, loan tenure, running EMIs, and other monthly income. Below mentioned are the basic points on which your loan eligibility is determined: Credit History Your credit history helps banks and NBFCs to know about your behavior of payment and the way in which you settle your loans. In case, the past loan is delayed due to some reason or not submitted on time, the lower your score is likely to be. A credit score above 550 and near to 900 is good for any sort of loan eligibility. A score below an...

Spenta AltaVista Phase 2 Chembur: Growing From Strength To Strength

Spenta’s latest offering AltaVista is fast becoming popular. A number of reasons go into making this fabulous project so popular. Its strategic location, however, is one point that plays an important role in popularizing the project. And why not, the area, after all, shares close proximity to such important destinations like educational institutions, healthcare centers, restaurants as well as one of the city’s biggest golf courses. Spenta Alta vista Chembur location also offers easy access to places like Eastern Express Highway, Eastern Freeway, Santacruz - Chembur Link Road, LBS Marg and Chunnabhatti - BKC flyover as well as to Chembur and Kurla railway stations as well as the proposed monorail. With so many important destinations falling close to the project, it really should not come as a surprise that the location of AltaVista indeed goes a long way in making the project popular. The amenities offered at SpentaAlta vista Phase 2 Chembur include swimming pool with an att...

Finance and Investment

Search This Blog