Loan Against Property VS Loan Against Securities

Sometimes we require sudden finance for various reasons. People don’t have cash available every time. But you have a simple and easy way to get a loan by giving your security to bank and get loan easily. This is one of the most knowing and secure ways to get of a loan as you are provided with stable fundings. This mode of loan we called Loan Against Securities.

What is Loan Against Securities?

Loan against securities is a loan offered against your securities as collateral with a bank. It means if you want to get a loan then you have to give a guarantee like insurance policy, mutual fund investment to bank as a security. Loan Against Securities allows you to increase your funds against shares. You have to give a 0.15% as a processing fee. You can get up to 10 crore depending on your credit profile.

Also Read:-Business Loan for Startup

Which Securities Can be Guaranteed?

You can give a guarantee to bank as a following: -

Shares, Equity & Debt Mutual Funds, bonds
Fixed Maturity Plans (FMP)
Insurance policies issued by LIC
Non-Convertible Debentures (NCD)
NABARD Bonds

What is the Difference between LAS and LAP?

Basis	Loan Against Property	Loan Against Share
Eligibility	The applicant should be an Indian. Age should be at least 21 years old at the time of application. self-employed or working as a employee both can apply. Applicant should have good credit history.	The eligibility criteria for loan against share is for: - Traders Industrialists Business owners
Documents required	Identity and address proof. Bank statement of the last six months. Cheque for processing loan fees	Passport size photograph. Identity proof like PAN Card, aadhar card, Passport, Driving License etc. Residence Proof. Bank statement of the last 6 months Original paper of guarantee.
Features	This type of loan you can get only against commercial or residential property. You can borrow 1 crore from Loan against property.	The loan includes securities (bonds, shares etc.) The banks can dispose the security in case lender fails to repay the loan.
Advantages	The main purpose is you can get money for anything education, marriage, medical requirement, emergency, etc. The tenure of these loans up to 15 years or more. Interest on security is low and no hidden charges. Easy documentation and eligibility criteria.	Money can be easily regained if the loan nis fail. Easy and simple transfer process. Market value of the share is easy to get. From all Debentures, bearer bonds, promissory notes and share warrants we can get a loan.

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