Loan Against Shares (SBI): Everything You Need To Know

   Are you looking for Loan against shares in SBI? If yes this Article is going to Help you.You may easily Avail of loans up to Rs.20.00 lacs against your shares to enable you to meet contingencies, personal needs or even for subscribing to rights or new issue of shares. Here we will see everything in details such as Eligibility Criteria, Required documents, Loan Limit and important factors you need to know while you apply for Loan against Shares. So Lets Begin...

Loan Against Shares (SBI): Everything You Need To Know

What is Loan Against Shares?

     Loan Against Shares is a safe way to borrow money against your shares. This is particularly beneficial for people who want to keep their shares in the stock exchange but need cash immediately.

Eligibility for Loan Against Shares -

 If you are looking for a Loan against Shares in SBI you need to meet certain eligibility Criteria.

๐Ÿ‘‰ DEMAT Account with SBI Cap Securities - This facility is available to SBI's existing individual customers who is enjoying a past satisfactory relationship with SBI and maintaining their DEMAT Account with SBI Cap Sec. 

๐Ÿ‘‰ SB/CA Account with SBI which should be atleast six months old.

๐Ÿ‘‰ The customer should have a KYC compliant account.'

๐Ÿ‘‰ Email id mentioned should be active.

๐Ÿ‘‰ The customer to ensure that the quantity of shares  is available in your Demat Account. If there is any discrepancy the application will be rejected.

NRIs are currently not eligible for Loan against shares in SBI. 

Loan Amount (How Much you Loan Get?)

You may get minimum Loan Amount: Rs 50,000/- and  Maximum Loan amount up to Rs 20.00 lacs

Repayment Schedule

Overdraft: Running Overdraft (Auto Renewal every year )

Nature of Loan - Overdraft Loan

Margin - You will need to provide a margin amount of 50% of the prevailing market prices of the shares being offered as security.

Security - You need to Pledge of the demat shares against which loan is sanctioned.

Fees and Charges 

Processing Fees - 0.75% of the loan amount with minimum of Rs.1000 + GST.

Review Charges - Rs.1000 + Applicable GST (Applicable only for Overdraft A/C)

Interest Rates :

Scheme1- year MCLRSpread over 1 year MCLREffective Interest Rate
Loan against Shares, Mutual Funds & Dual Advantage Fund8.05%2.50%10.55%
Loan against SGB8.05%2.00%10.05%
Loan against NSC/ KVP/ RBI Relief Bond/ Surrender Value of SBI Life/ LIC/ SBI Magnum8.05%2.50%10.55%

Account Keeping Charges: Rs.550 + GST . Account Keeping Charges are applicable for Overdraft Facility.

Stamp Duty at the rate of 0.2% of the Loan Amount + Rs 100 will be recovered from the customer at the time of Loan Disbursement

How to Apply to Loan against Shares in SBI 

First Step - 

You Need to Visit SBI official Website, Find Loan Against Share Page there or you can directly jump on that page using next given Link >>> Apply Loan Against Shares in SBI . Visit and Scroll Down you'll Apply Now button as shown below. 

Second Step -

Now Select Shares Quantity and Hit that Submit button given below.



Third Step - 

If you hit submit button as above said you can see ELIGIBLE loan Amount. Now hit that Proceed Button... 


 

Fourth Step - 

Now Complete all necessary Stages and get loan disbursed in your Bank Account

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