IndusInd Loan against Securities

IndusInd Bank’s unwavering focus on customer service, satisfaction and responsiveness has been the key driver behind its growth and success. Their innovations are evidence of their relentless pursuit to make their services available to one and all. These initiatives are aimed to make it convenient for customers, clients and just about for anyone who approached IndusInd for any requirement. Let us take a look at the next generation innovations that IndusInd is really proud of!

  • Video Branch: This feature enables the client to get in touch with branch manager, relationship manager or with centralised video branch executive. Basically it puts a stop to running from one person to another and gets you to the official who is responsible.
  • My Account My Number: This is one of the best systems that IndusInd has introduced. So try and remember your account number. Can’t remember, right? Well 99% of the people cannot remember their cumbersome account numbers. But what if you could choose your account number, then it won’t be a hassle to remember it. IndusInd gives you freedom to choose your own account number under this system.
  • Check on Cheque: Another useful system which keeps electronic records of cheques issued by you ever. Now there is no need to make an entry in the cheque book and referring it. It is all available on your IndusInd bank portal.
  • Denomination Selection: Most of us walk out with high denomination notes after making withdrawals and then haggle for change. Not at IndusInd bank, here you request for the denomination you want the notes in and they comply.
  • Cash on Mobile: Under this card-less cash system, you can simply transfer and receive amount by just using the receiver’s mobile number!
  • Direct Connect: If you are a direct connect customer, you can jump queues and connect directly with the official concerned without waiting!

Above innovations and systems re-affirm IndusInd’s commitment to customer service. Taking it further are their products and loans. Amongst them loan against securities is one of the quickest and hassle free loan that IndusInd has in its kitty!

Main Features of the Loan

  • The loan can be availed for business or any personal purpose
  • Approved mutual funds select Bonds and equity shares can be pledged under this scheme to avail the loan.
  • Up to 80% of Net asset value of the portfolio can be availed by the applicant
  • IndusInd bank calls the advantage of loans against securities as 3L advantage which includes liquidity on securities without selling them, larger value for securities as the bank gives a big loan to value percentage of 80% and lower processing fee and interest rates.
  • Minimum loan amount is Rs 2 lacs.
  • IndusInd allows part payment of the loan without any restrictions so that the borrower can pay up a portion of loan before the tenure ends and reduce interest liability.
  • The loan is given as Overdraft facility where a current account is opened in the name of borrower. The upper limit of overdraft is the loan amount sanctioned under this scheme.
  • If the amount withdrawn exceeds the limit then a penal interest of 24% p.a. plus tax is levied. This amount is calculated on a daily product basis and levied on a monthly basis.
  • Late Payment charge of 24% p.a. is levied on overdue amount. This is also calculated on a daily product basis and levied on a monthly basis
  • The borrower can make principal payment as per his convenience and pay monthly interest only on the amount utilised.
  • There is no charge or penalty for non-utilisation of funds from the loan sanctioned.
  • One can pledge the securities from any depository participant in India. This means that the borrower need not be IndusInd’s existing customer and also does not need to hold a DEMAT account with IndusInd.
  • Monthly statement of loan account is given to the borrower
  • Easy withdrawal options are available through net banking, mobile banking, debit card and cheque book.

Eligibility Criteria

  • Any Indian Resident over 18 years of age can avail this loan.
  • Loans are also available for individuals, proprietorship firm, partnership firm or company
  • Approved securities are to be provided as collateral

Application Procedure

You can apply for this loan by following one of the following methods:

  • You can apply for Loan Against Securities online.
  • By visiting the nearest IndusInd branch

If you choose to go online then all you need to do is fill online application under loan against securities category. Officials and representatives from IndusInd would contact you for further process.

If you go for the second option i.e. visiting the branch, the there too you will need to file an application form and submit it with the following documents

  • Identity proof
  • signature proof
  • Address proof.
  • In case of non-individual, audited Balance Sheet, Profit & Loss Account, Bank Statement and ITR return for the last two years are to be submitted.
  • Annexure W which is the lien request letter for pledge of securities.
  • Application form and loan agreement

Apart from the above documents, IndusInd bank may request the applicant to furnish additional documents as it may deem fit.

You can visit to avail loan against securities from various lenders and choose from the multiple offers. We also have other loan under multiple categories for all your needs. So visit us and shop for loan with us today!