Minimum Rs. 1 lac, Maximum Rs.20 lacs
Equity Shares of the Companies on the approved list of the Bank held in demat form.
40% of the value of shares for approved Stocks only
Value of Shares
Current Market Price
Period of Loan
For 12 months. May be renewed on request, at Bank's discretion:
Current Account to be opened with the Bank for availing the OD facility
Depository Account to be opened with the Bank for holding the Demat shares.
Only Demat shares from the Banks' approved list will be accepted as security. However shares held with other Depository Participants may also be accepted as security.
If the value of shares pledged falls and after deduction of margin amount the residual value is not adequate to cover the outstanding in the loan account, the amount of shortfall should be paid or additional shares of adequate value should be pledged within 24 hours.
Interest & Documentation
2% over the applicable rate in case of irregularity or overdue in the account.
If the shortfall in the account is not rectified either by payment of funds or by pledging additional shares the Bank may at its discretion sell the shares for recovery of its dues wholly or partly, without any notice.
IBL Registration Number NSE: INE231308847
MCX Stock Exchange Limited: INE261314434 for dealing in currency derivatives segment