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Purpose of Loan
For meeting the exigencies and or for subscribing to new issues.
Individuals who are bonafide owners of the shares and debentures held in DEMAT FORM AND MAINTAIN ACCOUNT WITH DEPOSITORY PARTICIPANT
Nature of Facility
Overdraft / Demand Loan
The repayment is to be made on demand or 12 months whichever is earlier.
The limit may be reviewed on annual basis and renewed on merits
Eligible Loan Amount
50% of the value of the approved shares worked out on the basis of the Average Market price for the last 6 months or the Current Market price whichever is less.
Maximum loan amount
Rs. 20 lakhs
Lien on shares should be marked in bank's favour with Depository Participant.
Directly to borrowers
Rate of Interest
Base Rate+4 %
1 % of loan amount (minimum Rs.500/-)
Suitable monthly installments in case of Demand loan
i. The borrower should give a latest statement issued by DP.
ii. The applicant should furnish his client ID and the number allotted by his DP and his DP ID Number.
iii. The detailed statements of DEMAT account and pass book to be submitted.