6 Benefits of Loan Against Securities at a Glance!
The twists and turns of life that we take for granted are hardly predictable. They often force us to sacrifice the future goals to cover the needs of the present. However, with a loan against securities, you can prevent this from happening. How?
You can easily keep your investments going without breaking for instant cash needs. Instead, you can avail a loan against them to make up for situations.
In the same context, let’s provide you the six benefits of a loan against securities to help you know more about it so that you can easily use it when required.
Six Loan Against Securities Advantages!
- Higher Loan Amount to Cover your Needs
A loan against securities can help you borrow an amount as high as Rs.10 crore to complement your diverse financial requirements. Thus, you can easily keep your securities’ investment going steady without breaking it and still avail a larger amount to cover your needs.
- Quick Online Approval
Leading online banks and non-banking finance companies can help you get an online approval within 5 minutes for faster processing. Quicker processing of a loan against securities means that a customer need not wait for the endless time for the loan to be approved.
- Exclusive Customer Support
Lenders also assign a dedicated Relationship Manager or Customer Care to assist you with all requirements and clear doubts, if any.
- No Additional Charges
If you are applying for a loan against security facility from leading online banks and non-banking finance companies (NBFCs), you can expect not to be charged anything extra. No extra charges here denotes zero foreclosure and part-prepayment charges for enabling an easier and non-clutched payment norms.
- Online Account Management
Prominent online banks and non-banking finance companies (NBFCs) also let their customers avail an online loan against securities management. Yes, lenders have a special digital customer portal via which they enable a customer to access their information related to the loan such as loan amount, loan EMI due dates, total EMI paid and total to be paid.
When customers can access the information on the go, it helps them keep steady track and management of their loan against security account.
- Pre-approved Deals
Some lenders also offer you pre-approved offers especially customized for you as per your relationship with the lender and eligibility. Based on these, you can easily get even more value out of the loan amount that you are willing to apply and seek.
Loan against Securities Eligibility and Documents
Now that you are aware of the benefits of the loan against securities let’s have a look at some of the major eligibility criteria and documents required for loan against securities.
- An applicant needs to be an Indian citizen
- Your age must be 25 years at the time of the loan application
- Salaried or a self-employed professional with a consistent income
- Securities’ minimum worth should at least be Rs.25 lakh
- You should be living in a metro city or a city as listed by your lender
Documents Checklist
Prepare to furnish these documents if you are all set to apply for a loan against securities
- KYC documents
- Photograph
- Details of the income with the latest pay slip
- Previous 2 years’ Form 16
- Last 6 months’ demat account statements
- Last 3 months’ bank account statements
The Bottom Line
You just saw how beneficial a loan against securities could be in terms of the benefits and keeping your investment safe and sound. Apply for a loan against securities online and get started with the process of meeting your needs without breaking your securities. All the best!
Category: Loans
