ICICI Bank’s Loan against Securities (LAS) currently being offered at 11% is one of the lowest cost propositions compared to other education financing solutions in the market.
You would be able to avail Loan against Securities (LAS) in the form of an overdraft (OD) facility against the pledge of financial securities like shares, mutual funds, bonds, insurance policies and Fixed Maturity Plans. This facility would help keep your hand-picked portfolio intact and get liquidity against it. The OD limit depends on the valuation of the security, applicable margin and other conditions as applicable from time to time.
Advantages of opting for LAS:
- Low cost of funds (due to the best-in class interest rate of 11%
- Payment of interest only on the amount of overdraft used
- No prepayment charges
- Flexibility on principal repayment
- Exercise the option to liquidate collateral in order to cater to your principal repayment
- Unique facility of selling pledged shares online
- Two Passport size photographs (original copy)
- Two copies of Residence Proof
- Two copies of Pan card
- Two copies of Identity Proof (Not required if Pan card is given)
- Client master report (De-mat Statement)
- One processing fees cheque as applicable.
- Permanent landline / mobile connection at residence or office mandatory - to be mentioned in the application form
- E-mail id of the borrower or co-borrower needs to be mentioned in the application form.