If you have been saving your hard earned money through your securities such as your shares, fixed deposits, L I C et. you can make use of them to meet your financial requirement by availing Loan against securities in Chennai. Your fixed deposits and your shares are easiest and most convenient way to avail loans against security in Chennai.
Loan Against Securities in Chennai
Loan against security are loans that can be availed against your shares or fixed deposits. Availing this loan enables you to borrow funds against already existent securities such as mutual funds, shares, bonds and insurance to meet your immediate financial requirements. Loan against property gives you instant liquidity for your personal as well as business needs without having you deposit any guarantor or collateral.
•Loan amount that can be availed is directly proportional to the amount of your saved securities. However, you can obtain a maximum loan amount of Rs 15 Crores against your saved securities.
•Amount that can be sanctioned against your fixed deposit is mentioned as under-
☞75% of the fixed deposit amount for Cumulative fixed deposits
☞60% of the fixed deposit amount for Non-Cumulative fixed deposits
•The rate of interest that is applicable on Loan Against Securities is approximately 12% p.a.
•The loan tenure of loan against securities is for a short duration which is usually 12 months.
•If you are availing Loan against securities you are benefited with an added advantage of “Nil Foreclosure Charges”, “Nil Par-payment Charges” along with “Flexible repayment option”.
•Loan against security is granted against your shares or deposits, therefore no collateral or guarantors are required for availing these loans.
You are eligible to avail Loan against security in Chennai if:
•You are an Indian Resident with a minimum age of 25 years.
•If you are salaried individual with a regular and steady source of income.
•You own securities that are worth Rs 25 Lacs.
•Duly filled application form
•Recent passport sized photograph
•Identity Proof issued by govt. of India
•Date of Birth Certificate
•IT return certificate
•Last three months Bank statement
•Last 6 months salary slip
•Loan against securities in Chennai can be availed at Letzbank by simply signing up on Letzbank.
•On the website you will find simplified comparative loan products offered by top banks in Chennai as well as all over the country, which would make your search simple and lot easier.
•Your decision to submit an online application on Letzbank will help you waive off “Service Fee” applicable on your loan and also help you avail your loan against securities without much hassle in Chennai.