| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Foreclosure Charge | Chances of Loan Approval | |
|---|---|---|---|---|---|---|---|
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ICICI Bank Ltd.
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9.00% | 0.5% | 50 | 36 | 2% |
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HDFC Bank Ltd
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9.40% | 1% | 50 | 36 | 2% |
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Axis Bank Ltd.
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9.10% | 1% | 25 | 36 | 2% |
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Kotak Mahindra Bank
|
9.25% | 2% | 25 | 36 | 2% |
|
|
State Bank of India
|
9.75% | 1% | 20 | 36 | 2% |
|
|
Make the right use of your financial assets with loan against securities. Get up to 80% of value on your security, it might be life insurance policies, bonds, mutual funds & etc. Loan Against Securities interest rates are most affordable.
Loan Against Securities Eligibility CriteriaUsually, Loan Against Securities Eligibility Criteria depends on various factors like age of applicant, monthly salary or business income of co-applicant, course type & residency..etc.
Note: - You can avail Maximum Loan Amount on Loan Against Securities as minimum Rs.1,00,000 and the maximum is Rs. 20,00,000
What are the factors affecting Loan Against Securities Eligibility Criteria?There are few factors that affects Loan Against Securities Eligibility Criteria as given below: -
Meeting age criteria: - Make ensure that you meet age eligibility criteria as per standard terms & norms you should not less than 21 years of age at the time of availing loan against securities.
Lower Income: - Loan Against Securities might be a secured loan, but lender will check your monthly income to your capacity. As higher the monthly income as the Loan amount depends on your eligibility.
Applicant Age: - This is a significant factor affecting your Loan Against Securities eligibility, as per the standard terms & norms of age in-between 18 – 60 years for applying Loan Against Securities, therefore avoid before & after the age norms for loan rejection.
How Loan Against Securities helps to increase Credit Score?As most of you, for any type of role one common factors that affect your loan application is none than a credit score, it might be personal loan, home loan, business loan, project loan, car loan & various loan.
Due to some unpaid or late paid payment your credit score ranging had affected a lot, how bad would be your credit score might be, you don’t need to worry when you have one ultimate solution to increase your credit score.
If you have gold ornaments & jewelry with you then, no one can stop you from borrowing loan against your gold. By paying Proper EMI on time your credit score range will gradually increase.
PHOTOGRAPHS 2
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST 1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH MAP
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.
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You can get between 1 lac minimum to 20 lac maximum limit.
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This loan come under Unsecured Loan, wherein bank require Collateral to pledge. When you pledge your mutual fund or insurance policy as a assets certain determined limit will be credited to your account & work as a Overdraft Facility which allow you to pay interest for utilized amount.
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Many of you have question under Loan Against Securities when does revaluation take place so generally it starts
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Whether salaried or self-employed you must have a regular source of income, you age should be in-between 21 – 60 years & make sure your securities value is above 10 lacs.
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It offers digital application to get quick disbursement, low interest that too pay interest for used amount only & other tenure facility are offered.
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If you are looking for a loan at low Interest Rate then definitely its good idea but if you don’t want to risk your assets then avoid it.
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It is a type of Unsecured Loan where you need to pledge any share as a assets like mutual funds & insurance policies to bank.
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Generally, Interest Rates range from 10.50% - 13.00% p.a.
CA Vikas Jain - Our Mentor
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