Online Apply for Loan against Securities in Axis Bank

Loan Against Securities  Updated date : December 14, 2017 29

Get flexibility of liquidity and access to cash when you need it, without selling off your securities.

✔ High-Value Loans
✔ Upto 85% of security value
✔ Interest on Utilization
✔ No EMI or post dated cheques required
✔ No Prepayment Charges
✔ No extra charges on early closure
✔ Overdraft Facility
✔ Against a number of securities

Loan against Securities Features and Benefits

Get high-value loans

Upto 85% of security value

Enjoy attractive interest rates
Starting from 10.50% only

Avail of overdraft facilities

Against the pledge of the following list of approved securities:

  • Equity Mutual Fund units – Facility limit upto 60% of NAV (Net Asset Value)
  • Capital Protection Oriented and Hybrid Mutual Fund units – Facility limit upto 60% of NAV (Net Asset Value)
  • Debt Mutual Fund units – facility limit upto 85% of NAV
  • Listed Bonds / Non-Convertible Debentures - Facility limit upto 70% of market price
  • Life Insurance Policies

Pay interest only on the amount utilised
Interest charged only on the amount utilised – no EMI or post dated cheques required

Enjoy no pre-payment charges
Nil pre payment charges on Loan against Securities

Explore multi-channel banking
ATM and cheque book facilities a

Terms and conditions

Facility Tenure

  • Overdraft facility is granted for 12 months. This is reviewed and renewed at annual rests.

Penalty for early closure

  • Nil.

Other Conditions

  • Bank reserves the right to reject any application / renewal without assigning reasons thereof. It shall be the sole right of the Bank to consider the proposal on case to case basis after taking into consideration, the credentials/credit worthiness of each of the customers
  • No loan under this scheme is granted for investment in capital market instrument or for speculation purpose
  • The overdraft facility shall be disbursed / renewed only after all the required documentation and pledge creation formalities are complete.
  • The margin requirement will be reviewed regularly. In event of any volatile fluctuations in the prices of the units, the client shall make good the shortfall, if any, within four days, failing which the security will be enforced.
  • The applicant will undertake to inform the Bank as and when there is a change in address or employment

The terms and conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank's discretion.

All of the above is subject to terms and conditions

Loan against Securities Eligibility and Documentation

Eligibility

Individuals who are eligible for a Loan against Mutual Funds:

  • Resident Indians above the age of 18
  • NRIs above the age of 18

Entities which are eligible for a Loan against Debt Mutual Funds:

  • Resident Indians
  • NRIs
  • HUFs
  • Sole Proprietorship
  • Partnership firm
  • Private Limited companies

Individuals who are eligible for a Loan against a Life Insurance Policy:

  • Resident Indians

Keep your documents ready

The following documents are required along with the loan application

  • Proof of identity (any one of the following):
    • Voter ID card
    • Driving license
    • PAN card
    • Employee ID card
    • Government department ID card
  • Proof of Income (any one of the following)
    • Latest salary slip showing all deductions
    • Form 16 with recent salary certificate/Income Tax returns of last 2 years
  • Proof of residence (any one of the following):
    • Bank account statement
    • Latest electricity bill
    • Latest mobile/telephone bill
    • Latest LIC policy/insurance premium receipt
    • Existing house lease agreement
  • Bank Statement/Pass Book of last 6 months
  • Latest statement of holding for mutual funds
  • Pledge form for the creation of pledge
  • Optional – Guarantor Form (Mandatory in case of joint holding)

Loan against Securities Interest Rates and Charges

Interest Rates & Charges*
Sr. NoProductRate Of Interest (p.a.)
1Loan Against Securities10.50% to 12.50%
Renewal Charges
Sr. NoProductCharges
1Loan Against equity mutual fundRs. 1000/- plus GST
2Loan Against debt mutual fundRs. 5000/- plus GST
3Loan Against Listed bonds/Non Convertible DebenturesRs. 1000/- plus GST
4Loan Against Life Insurance Policies.Rs. 1000/- plus GST
Other Charges
Sr. NoTypeCharges
1ATM Issuance ChargesRs.100/- plus GST
2ATM Annual Maintenance ChargesRs.100/- plus GST
3Processing Fee Charges0.15% of the loan amount or Rs.1000/- whichever is higher plus GST
4Penal Interest@24% per annum, 2% per month
5Repayment Instruction/Instrument Return chargesRs.500/- plus GST per instance
6Cash Deposit Charges (Home Branch)Rs.3/- plus GST as applicable for per Rs.1000/-
7Cash Deposit Charges (Non Home Branch)Rs.3/- plus GST as applicable for per Rs.1000/-
8Cash Withdrawal Charges (Home Branch)Free
9Cash Withdrawal Charges (Non Home Branch)Rs.2/- plus GST as applicable for per Rs.1000/-
10NEFTUpto Rs 10000 - Rs. 2.50 per transaction plus GST as applicable
From 10,000 to Rs. 1 lakh - Rs.5 per transaction plus GST as applicable
Rs. 1 lac to Rs. 2 lacs - Rs. 15 per transaction plus GST as applicable
Above Rs. 2 lacs - Rs. 25 per transaction plus GST as applicable
11RTGSRs.2 lacs to Rs.5 lacs - Rs. 25 per transaction plus GST as applicable
Rs.5 lacs and above - Rs.50 per transaction plus GST as applicable
12Account Statement - By post and e-mailFree
13Account Statement - Duplicate statement from BranchRs 100 per statement plus GST as applicable
14Pledge Charges *As applicable
15Charges for changing from fixed to floating rates of interestNA
16Charges for changing from floating to fixed rates of interestNA
17Prepayment ChargesNA
18No Due CertificateNA
19Solvency CertificateNA

With effect from 1st July 2017, Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)

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