ICICI Bank Loan Against Securities
Under this scheme the borrower needs to pledge his securities in favour of ICICI Bank and can get an overdraft facility of up to a certain value. It offers you and instant liquidity at your disposal.
You can withdraw the money as and when you require from a current account that will be opened specially for you. Interest rate will be charged only on the amount withdrawn and for the time span utilised.
You can avail loan against following securities:
- Demat Shares
- Mutual Fund Units
- Fixed Maturity plans (FMP)
- Exchange Traded Funds (ETF)
- Insurance Policies
- Savings Bonds
Eligibility Criteria of ICICI Bank Loan Against Securities
- The applicant should be between 21 and 75 years of age.
- The applicant should be a subscriber to a telephone (landline) either at residence or office.
- Only Individuals can apply. [Hindu Undivided Families (HUFs), Companies, Partnerships, Sole Proprietors are specifically excluded.]
- Loans are granted only against the list of approved scripts, as determined by ICICI Bank.
- For Equity oriented funds: Only Individuals can apply. [Hindu Undivided Families (HUFs), Companies, Partnerships, Sole Proprietors are specifically excluded.]
- For Debt Funds/FMP/ETF: Individuals, Hindu Undivided Families (HUFs), Companies, Partnerships and Sole Proprietors can apply.
- Loans are granted only against the list of approved Mutual Funds/ schemes, as determined by ICICI Bank.
- For life insurance policies, Individuals, Companies, Partnerships, Sole proprietorships, Hindu Undivided families (HUFs) can apply.
- Loans are granted only against the list of approved insurance policies, as determined by ICICI Bank.
- Individuals and Hindu Undivided Families (HUFs) can apply.
Loan Amount under ICICI Bank Loan Against Securities
Minimum Loan amount is Rs.50000 to Maximum loan amount is Rs. 5 Crore for loan against Bonds or Life Insurance Policies.
Minimum Loan amount is Rs.50000 to Maximum loan amount is Rs. 20 lakhs for loan against Shares or Mutual Funds.
Loan Tenure of ICICI Bank Loan Against Securities
Please contact the bank branch for the details.
Interest Rate on ICICI Bank Loan Against Securities
8.20% p.a. to 12.50%