ICICI Bank Loan against securities
About Loan against the securities
Loan against securities is a sum of money borrowed from any financial institution or Bank against the shares and bonds known as ‘Loan Against securities’.Loan against securities means mortgage securities for lieu of fiance to meet our expenses whether personal or business.
Loan Against securities is a type of secured loan. Loan against securities is quite similar to loan as it charges interest rate and fees which are fixed or flexible.Loan Against securities means mortgaging security to the Bank in spite of they provide us the amount of money asked for.
Loan Against securities provides financial services in lieu of securities. Loan against securities means to provide security of payment to the bank in case of default. Loan against securities is designed as an investment securities to the bank for economic value.
Reason of ICICI Bank Loan against securities
- Use of shares , bonds and units.
- Increases the chances of good financing.
- Fast process of financing in case of sudden or emergencies.
- Better rate of investment.
- Convenience and flexibility of repayment.
- Secure loan.
ICICI Bank Loan against Securities
ICICI Bank offers a new variety of Loan in which security is provided to the Both parties called as ‘Loan against the securities’. New variety of loan offers to those individuals who are associated directly or indirectly with ICICI Bank.
However , the ICICI Bank offers Loan against securities with a phase of ‘Unlock the potential of financial assets’.ICICI Bank says so , to redeem the customer need of financing by assuring their financial securities to them type of security or trust to them against your loan application.
ICICI Bank loans against securities provide loans with easy terms and conditions with no long process and other charges. ICICI Bank Loan against securities means to share the ownership of the securities with ICICI Bank to meet your financial need/expenses/emergencies.
ICICI Bank Loan against securities gives you an instant chance to liquidate your financial securities need for finance. ICICI Bank Loan against securities consider any securities whether personal or commercial , they have a subject for securities acceleration no matter it belongs to any phase.
ICICI Bank Loan against securities approval
As ICICI Bank approve loan against the securities on the quality and quantity of securities , means type of security and in which form , they are as follows :
- Shares securities against the Loan can redeem 50% value of shares.
- Maximum Loan approval Rs.20 Lakh /-
- while Minimum approval from Rs.20,000/-
- Life insurance policies
- Minimum approval of sum of money from Rs.50,000/-
- Maximum approval upto Rs.5 crore.
- Mutual fund
- Mutual funds Loan would be approved on 50% Net asset value.
- Minimum approval of amount from Rs.20,000/-
- Maximum approval of amount upto Rs.20Lakh/-
- Minimum Loan approval against securities from Rs.50,000/-.
- Maximum Loan approval upto Rs.5 crore/-
ICICI Bank Loan against securities Interest charges
- However , the ICICI Bank charges interest according to securities and time of repay.
- ICICI Bank charges minimum interest 8.40% p.a.
- ICICI Bank charges maximum interest 10.62% p.a.
- ICICI Bank charges mean interest upto 9.91% p.a.
ICICI Bank Loan against securities Eligibility
For assuring Loan against securities , you have to pass these eligibility terms , if you want to consider on these types of securities , they are as follows :
- Mutual Fund
- Applicants who consider equity oriented debt of funds.
- Applicants who consider Debt funds of Mutual funds.
- Life insurance policies
- Applicants who are considered with policies of Individuals , companies , sole proprietorship , partnership and Hindu undivided family.
- Demat shares
- Applicant who had security of shares based on these variant Companies , Partnership , sole proprietorship and Hndu undivided Family.
- GOI Bonds (Government of India)
- Applicants who are considered with Hindu undivided Family only.
- Applicants apply for the Loan against securities
- from the age of 21 years upto 75 years
- Should be Indian citizen
- Should be particular with necessary documents of securities and themselves.
ICICI Bank Loan against securities Documents required
- Proof of identity such as aadhar card , pan card , voter id , passport.
- Proof of address
- Signature proof
- Represent any companies/business need Income statement (previous 2 years) , Annual statement 2 years and current year)and Gst return (1 year).
- Filed application form
ICICI Bank Loan Against securities Benefits
- Easy and quick availability.
- Securities value between 50% to 90%.
- Saves from high charges and exploitation of unfair amounts considered by moneylenders.
- Loan against the securities is not approved on basis of credit score , but on financial securities.
- No prepayment option.
- Minimum documentation work and singing of basic terms and conditions.
- Monthly basis charging of EMI’s.
- Provide overdraft facility against securities.
- Flexible repayment and long or maximum tenure period available.
- No other charges as compared to other loans processing , operational etc.
ICICI Bank Loan against securities Registration
- Visit the official website of ICICI Bank ‘www.icicbank.com’.
- Click on Loan
- Select Loan against property
- Fill the form for Loan with required and basic details.
- Click on submit button
Approval of Loan consider.
- Visit the nearby branch of ICICI Bank , ask for the Loan against securities.
- Fill the forms with detailed attachments.
- Signed the terms and conditions of Loan against securities.
ICICI Bank Loan against securities Repayment
- Repayment in form of EMI’s or installment considered on a fixed date with fixed value.
- Repayment within online or offline basis.
- Repayment of Loan against securities within tenure period /time of repay.
- Repayment date to late then late charges and their GST should be added on EMI’s ask by ICICI Bank.
- Repayment is considered under the guidelines of the contract of Loan against securities.
- Repayment is considered only on the name of the borrower.
- With the particular repayment , you can free part of particular security.
ICICI Bank offers many types of loans, for example ICICI Bank Business Loan, ICICI Bank Personal Loan, ICICI Bank Student Loan, ICICI Bank Car Loan, ICICI Home Finance Apna Ghar Home Loan, ICICI Bank Wedding Loan and ICICI Bank Gold Loan etc.
For More news or details regarding icici bank and their loans , please visit our official website and stay updated with us. Hope you get all necessary details. Stay safe and Thank you!