Loan Against Shares

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Loan Against Shares

FINVASIA is offering Loan against Shares (LAS) to customers where they can utilize their shareholding without liquidating them to meet their financial uncertainties  

Features

  • Digital processing

Loan amount eligibility – up to 50% of the latest value of shares* (where shares remain in pledged form)
Interest is charged on a monthly basis on the utilized amount (to be services on a monthly basis)
Principal amount to be repaid in bullet payment mode
Geographical outreach- PAN India

  • Age: 21-65 years
  • Tenure: maximum  12 months subject to renewal thereafter 
  • Loan amount : Rs 25,000/- to Rs 10,00,000/-
  • Eligible Clientele: Resident Indians
  • Rate of Interest: 15% 
 

 

  • Charges

  • Type of Charge 

    Amount 

    Pre closure charges 

    3% (+GST) of outstanding (if closed within 1st 12 months after availment) 

    Processing Fees 

    2% of loan amount + GST 

    Annual Maintenance/renewal 

    Rs 999/- + GST (Applicable Second Year onwards) 

    Penal Charges on the amount drawn in excess
    of the drawing power/sanctioned limit     

    3% per annum + GST on the overdrawn amount/amount in default. 

     

    Security Invocation charges 

    Rs 999/-** + GST 

     

    Stamp Duty for pledge of shares (to be borne by the borrower) 

    Rs 500/- + GST  

    ENACH bouncing charges 

    Rs 500/- (+GST) per occasion  

KYC requirements

  • 1. Identity Proof – PAN/Aadhar/ Passport/ Driving license
  • 2. Signature proof- PAN/ Passport
  • 3. Address Proof – Aadhar/ Passport/ Driving license/ Voter’s Card
  • 4. mandatory UIDAI verification
  • 5. Shareholding statement