E - Stock Advance

Eligibility:

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

Limit of Loan:

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

Basis of Advance:

1. 50% of the market value of securities. (as per approved list)
2. Loan can be granted against shares in demat form only

Repayment Period:

1. Overdraft facility subject to review every year

Rate of Interest:

1. Floating : 10.20% p.a.(w.e.f 04.01.2024) 
2. Present PLR: 15.70% p.a. (w.e.f 22.04.2024)

Security:

1. Pledge of shares/Mutual Fund
2. Minimum 2 scrips, no single scrip can exceed 50% of the current market value of the portfolio and the same can be extended to a Maximum of 75% only in the case of A group companies/MF.

Processing Fees: NIL

Shareholding:

1. As per extant shareholding norms

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.