Personal loan-Securities


The LAS- Loan against securities is a loan where you pledge your shares, mutual funds or life insurance policies as collateral to the bank against your loan amount.

Loan against securities are typically offered as an (OD) overdraft facility in your account after you have deposited your securities. You can draw money from the account, and you pay interest only on the loan amount you use and for the period you use it. 

AVALON has a great Offer for the LAS offering:

OFFER VALUE:  

Upto Rs 25.0 lacs-Share value        : 2.5 % of Share value( Incl of 18% GST ).

Rs 25.0 lacs > x > Rs 75 lacs       : 3.0% of Share value ( Incl of 18% GST ).

Above Rs 75.0 lacs +                         : 3.5% of Share value ( Incl of 18% GST )

Digital loan against securities.

A popular ONLINE-service in this space is Digital LAS, which automates and significantly speeds up the process of getting a loan against shares in just 3 simple steps & the disbursement in 3 minutes.

 
1. Login to XXX Bank Net Banking, and choose the shares to pledge to the lending entity.

2. Accept agreement through a one-time password (OTP)

3. Pledge shares with National Securities Depository Limited (NSDL) & Central Depository Services Limited (CDSL) online by confirming OTP.

4. Release of LOAN funds after NSDL/CSDL confirmation to the Lending entity.


LOAN FEATURES & ELIGIBILITY CRITERIA

  • Loan of up to 50% of the value of shares
  • Option of EMI-based repayment or interest only payment
  • Instant credit
  • Attractive interest rates
  • Shares can be pledged from any Depository participant across the country

ELIGIBITY CRITERIA

# Salaried Individuals include salaried Doctors, CAs, employees of select public and private limited companies, Government sector employees including public sector undertakings:

  • Minimum age of applicant: 21 years
  • Maximum age of applicant at loan maturity: 58 years (60 years for Central Government employees)
  • Minimum employment: 3 years in total and a minimum 1 year in the current organization.
  • Minimum Annual Income: Rs. 50,000 p.a. for metropolitan locations & Rs.35,000 p.a. for other locations

# Self-employed ( Professionals )include self – employed Doctors, Chartered Accountants, Architects, and Company Secretaries.

  • Minimum age of applicant: 21 years
  • Maximum age of applicant at loan maturity: 65 years
  • Years in business : Minimum 4 years with at least 2 years in the same business
  • Minimum Annual Income: Rs. 1,00,000 p.a. for metropolitan locations & Rs. 75,000 p.a. for locations

# Self Employed (Individuals) include Sole proprietors, Partners & Directors in the Business of Manufacturing, Trading or Services.

  • Minimum age of applicant: 21 years
  • Maximum age of applicant at loan maturity: 65 years
  • Years in business: Minimum 4 years with at least 2 years in the same business
  • Minimum Annual Income: Rs. 100000/- p.a. for metropolitan locations & Rs. 75,000 p.a. for other locations.

# Self Employed (Private Companies and Partnership Firms) include Private Companies and Partnership firms in the Business of Manufacturing, Trading or Services

  • Years in business: Minimum 4 years from commencement of business
  • Business must be in profit for the last 2 years
  • Minimum Annual Income: Rs. 1,00,000 p.a. for metropolitan locations & Rs. 75,000 p.a. for other locations