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E - Stock Advance
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E - Stock Advance

Title

                                  Norms

Purpose

  • For personal expenses

Eligibility

  • Individuals who are not connected with any Stock Broking firm or activity.

Limit of Loan

  • Maximum Rs. 10.00 lakh in case of securities in Demat form
  • Maximum Rs. 5.00 lakh in case of securities in physical form

Basis of Advance

  • 50% of the market value of securities (as per approved list)
  • Loan can be granted against shares in Demat form only.

Repayment Period

  • Overdraft facility subject to review every year

Rate of Interest

Particulars Rate of interest
Applicants having demat accounts with us @ PLR-3.25: 11.00% p.a
Applicants having demat accounts with other Bank/ Institution @ PLR-1.5: 12.75% p.a

Present PLR : 14.25% p.a

Processing Fee

  • Pledging Charges as applicable.

Shareholding

  • 2.5% of sanctioned loan amount. Maximum Rs.25000/-

Security

  • Pledge of shares / securities
  • Minimum 2 scrips, no single scrip can exceed 50% of the current market value of the portfolio.

Documentation

  1. Duly filled prescribed application form
  2. Latest Photograph, Photo Identity & Residence Proof of the Applicant & Guarantor.
  3. Declaration from borrower not being connected to any stock broking activity/firm
Conditions apply
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Saraswat-Bank
Saraswat-Bank