Start learning 50% faster. Sign in now
The eligibility criteria to procure a loan against shares - loan against security shares are: - One has to be within the age group of 18-65 years in order to avail of a loan against shares. - The tenure of these loans is generally a year but can be extended and taken up for renewal if required. - A minimum amount of INR 1 lakh and a maximum amount of INR 10 Lakhs can be availed for physical shares and INR 20 Lakhs for demat shares. - An identity proof and a residence proof , income proof such as a salary slip , recent bank statements of 6 months, pan card ,cancelled cheque and a holding statement from the depository participant. - The interest rates on these loans are in the range of 12-18% per annum and are cheaper than a personal loan. - Shares held in the names of HUF, minors, Companies and NRI’s cannot be pledged. Only individuals are eligible. - The Directors or Promoters of a Company cannot pledge shares of their respective Companies. - The borrower needs to pledge his shares by filling a pledge request form with the details of the shares and these need to be submitted to the bank. - A loan processing fee of 1-2% is charged against the loan amount sanctioned. There are no pre-payment charges for these kinds of loans. - One can pledge a single select script against a higher margin and a maximum of 20 scripts can generally be pledged at a time. Certain banks specify no upper limits. - If the value of the shares falls or the credit limit falls short additional shares need to be pledged or cash must be paid. - One can also pledge the shares of a spouse, parents, brother, in laws and children above 18 years of age. - Physical shares are acceptable only as marketable lots.
According to India State of Forest Report 2017, the Recorded Forest Area of Uttar Pradesh is how many percent of its total geographical area?
Which organization launched the World Migration Report 2024?
Where in India the first ‘Steel Road’ has been inaugurated?
Which element has the maximum atomic radius among the following?
Match the following lists.
What was the percent increase in the merchandise exports in the month of May, 2022 as compared to last year 2021 May?
Prime Minister Narendra Modi unveiled a bronze statue of freedom fighter Alluri Sitarama Raju, at a special programme on his 125th birth anniversary cel...
Which city in Uttar Pradesh is known for its educational and literary contributions?
Who has been conferred with the prestigious ‘Dr Kalam Seva Puraskar’ for 2022?
The “Akash for Life” a 3-day space conference to be held from 5th to 7th November, 2022 will be organized in which city?