Bajaj Finserv Loan against Shares enables borrowers to borrow funds by pledging listed securities such as shares, mutual funds, insurance and bonds to meet their financial needs with ease and confidence. Loans against shares are known for their fast processing and thus are perfect when you are in need of instant liquidity. Bajaj Finserv Loan against Shares and securities can be availed for personal and business purposes.
Important features of Bajaj Finserv Loan against Shares
Instant online approval
Bajaj finserv gives you freedom to apply for this loan online which gives you instant approval by following these simple steps:
- Log on to Bajaj finserv’s website
- Fill in the application form with information requested
An instant in-principal approval is given within 5 minutes. Then the representatives from Bajaj shall contact the applicant to explain rest of the process and make it easy to avail the loan. Once all formalities on application are completes, disbursements are made within 72 hours of completion post approval/ sanctioned documentation & internal verification. It is pertinent to mention here that in case you choose not to pay the Secure fee, you will lose the benefit of instant online approvals. Secure fee is refunded in case the loan is sanctioned and disbursed but the borrower has not availed it within 30 days of sanction. This fee is also refunded in case the loan is not approved finally.
Important Features of Loan Against Shares
- Loan tenure is of 12 months
- Interest is paid monthly on loan amount
- Bajaj finserv offers the highest amount loan against shares amongst all the other lenders in this category of loan. Minimum amount of loan that can be availed is Rs. 15 lacs and maximum is 10 Crores!
- The amount of loan is dependent NAV of portfolio and such other factors that are taken in consideration by Bajaj finserv.
- Borrower has option of swapping pledged securities within the loan tenure
- Borrower can access Online portfolio on "Experia" Portal on real time basis
- Borrower can get all information about loan like payment schedule, interest certificate, repayment track and important information related to loan through digital customer portal.
- Dedicated Relationship Manager is also appointed for the borrower who can be accessed 24X7 by the borrower for any query or formality related to loan.
- No guarantors or collateral is required for availing this loan even when applying online.
- The applicant can compute his monthly EMIs on the free EMI calculator on Bajaj Finserv’s portal.
- Part Pre-payment facility is available to the borrower in case liquidity is available and borrower wishes to repay a part of borrowing before the tenure gets over.
- There is also an option of foreclosure available at anytime during the loan tenure without any extra foreclosure charge.
- Once the loan against shares is approved and disbursed, an EMI card on a pre-approved loan for customer durable or lifestyle products is issued in favour of the customer. This card comes absolutely free and is valid across 140 cities and in over 12000 outlets in India.
- For an existing customer, Bajaj Finserv’s loan against shares is a very attractive option because as an existing customer you are eligible for exclusive pre-approved offers that include top-up loans and sometime reduction of interest rates from time to time.
Following are the key eligibility criterion:
- Applicant has to be an Indian Resident, who is at least 25 years of age on the date when loan is sanctioned.
- This loan is available only to salaried professional with a regular source of income
- Minimum value of your securities to be pledged should be Rs. 25 lakh.
Following documents need to be submitted for availing loan against shares from Bajaj Finserv:
- Duly filled Application form (online or physical)
- Latest Photographs as requested in the application
- Identity Proof like copies of PAN card, Aadhaar Card, Voter’s Id, driving licencse and Passport.
- Address proof such as PAN card, Aadhaar Card, Passport, Voter’s Id, driving licencse, electricity bills, bank passbook and telephone bill.
- Signature Proof
- Date of Birth Proof like Birth certificate, PAN card, Aadhaar Card, Passport, Voter’s Id, driving licencse
- Income Details including latest pay slip and form 16 for the past 2 years and last 6 months Demat statement
- Bank Account Statements for the last 3 months
These were the salient features and process of availing loan against shares with Bajaj Finserv. You can visit www.letzbank.com to pick this loan or compare it with loans that are being offered by other lenders. We also have tie ups with numerous known and reputed lenders to take care of your financial needs who offer loans under various categories. If it is a loan you need then Letzbank is your one stop shop!