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ICICI BANK LOAN AGAINST SECURITIES

ICICI Bank Loan Against Securities Details 

ICICI Bank is a leading private sector bank in India. It offers a wide range of banking and financial services to corporate and retail customers. In the 1990s, ICICI transferred its business from development financial institutions offering only project finance to a diversified financial services group offering a wide variety of products and services.

Loan based on the value of your securities. You don’t have to sell your securities. All you have to do is pledge your securities in favour of ICICI Bank. We will then grant you an overdraft facility up to a value determined on the basis of the securities pledged by you. A current account will be opened and you can withdraw money as and when you require. Interest will be charged only on the amount withdrawn and for the time span utilised. You will be able to enjoy benefits of the current account such as internet banking, mobile banking, phone banking, ATM card and a personalized cheque book.

Benefits of ICICI Bank Loan Against Securities 

1. Loan based on the value of your securities

2. Instant liquidity at your disposal

3. Loan interest ill be charged on the amount used by you

4. You will be able to enjoy benefits of the current account such as internet banking, mobile banking, phone banking, ATM card and a personalized cheque book.

5. Easy withdrawal

6. Avail loan amount upto Rs.20 lakh 

7. Interest rate starts at 8.20% to 12.50% per annum

Fee and Charges of ICICI Bank Loan Against Securities 

To apply for a loan against securities you have to pay fees and charges applied by the ICICI Bank. It covers all charges and fees made by a ICICI Bank to their customers.The following charges are taken from ICICI Bank loan against securities i.e processing fee, late payments of EMIs, cheque dishonour charges, prepayment / foreclosure charges etc.

TYPE 

CHARGES 

Processing fee (Non refundable)

0.25% of the loan amount subject to a minimum Rs.5000 plus applicable service tax

Prepayment charges 

NIL 

Penal interest 

6% plus other applicables rates

Non refundable renewal charges 

Rs.2500 per annum plus service tax or renewal at the end of each year

Solvency certificate charges 

NA

Further interest on overdrawn amount

Applicable rate plus 6% plus applicable tax or other statutory levies, if any 

Cheque return charge

Rs.50 per instance 

Charges for Interim Valuation Report (IVR) 

Rs.50 per IVR

Eligibility Criteria for ICICI Bank Loan Against Securities

Before applying for a loan against securities from ICICI Bank, you should fulfil all basic eligibility criteria as prescribed by the bank. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.

Demat Shares

  • Only Individuals can apply. [Hindu Undivided Families (HUFs), Companies, Partnerships, Sole Proprietors are specifically excluded.]

  • Loans are granted only against the list of approved scripts, as determined by ICICI Bank.

Mutual Fund Units

  • For Equity oriented funds – Only Individuals can apply. [Hindu Undivided Families (HUFs), Companies, Partnerships, Sole Proprietors are specifically excluded.]

  • For Debt Funds/FMP/ETF – Individuals, Hindu Undivided Families (HUFs), Companies, Partnerships and Sole Proprietors can apply.

  • Loans are granted only against the list of approved Mutual Funds/ schemes, as determined by ICICI Bank.

Life Insurance Policies

  • For insurance policies, Individuals, Companies, Partnerships, Sole proprietorships, Hindu Undivided families (HUFs) can apply.

  • Loans are granted only against the list of approved insurance policies, as determined by ICICI Bank.

GOI Bonds

  • Individuals and Hindu Undivided Families (HUFs) can apply.

NSC/KVP

  • Individuals, Hindu Undivided Families (HUFs), Companies and Partnerships can apply.

For all of the above

  • The applicant should be between 21 and 75 years of age.

  • The applicant should be a subscriber to a telephone (landline) either at residence or office.

Documents Required for ICICI Bank Loan Against Securities 

Any applicant who is going to avail for a loan against securities must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

1. KYC

2. Latest statement of holding for mutual funds 

3. Pledge form for the creation of pledge 

4. Income proof = Latest salary slip showing all deductions or FORM 16 along with recent salary certificate

5. Last 2 years ITR

6. Last 6 month Bank Statement 

7. Optional - Guarantor form (Mandatory in case of joint holdings)

Compare other bank home loan interest rates 

BANKS 

INTEREST RATE 

AXIS Bank Loan Against Securities

10.50% to 12.75%

Kotak Mahindra Bank Loan Against Securities 

9.25% to 13%

ICICI Bank Loan Against Securities

8.20% to 12.50%

Standard Chartered Bank Loan Against Securities

9.50% to 12%

How to apply for ICICI Bank Loan Against Securities

There are two ways to apply for ICICI Bank loan against securities :

1. Online Method 

Today, almost every bank in India provides you with the option of availing loan against securities online. The whole process is fast and hassle-free. You can visit the official website of the bank from whom you wish to avail the loan and click on the ‘Apply Now’ button. You will have to enter the details required by the lender and upload the necessary documents. Once the bank has verified the details and documents submitted by you, the loan amount will be disbursed to your bank account.

2. Offline Method

You can visit the nearest branch of the lender from whom you wish to avail the loan along with the necessary documents. An official from the bank will then further assist you with the process of applying for a loan against securities scheme.

Other products of ICICI Bank 

1. ICICI Bank Personal Loan 

2. ICICI Bank Car Loan 

3. ICICI Bank Credit Card

4. ICICI Bank Home Loan 

ICICI Bank Loan Against Securities Customer Care

Contact number : 18601207777

Email id : customer.care@icicibank.com

How to calculate EMI of ICICI Bank Loan Against Securities 

The mathematical formula to calculate EMI is : 

EMI = P × r × (1 + r)n/((1 + r)n - 1) 

Where,

P= Loan amount, 

r= interest rate, 

n=tenure in number of months

Financials products offered by Bank 

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

ICICI Bank Loan Against Securities Frequently Asked Questions 

1. What is the minimum and maximum loan amount of ICICI Bank loan against  securities?

The minimum loan amount is Rs.1 lakh and maximum loan amount is Rs.20 lakh of ICICI Bank loan against securities.

 2. Is age eligibility important to take a ICICI Bank loan against securities?

Yes, age eligibility is important to take a ICICI Bank loan against securities. The age should be 21 years to 75 years.

 3. How much processing fee charged by ICICI Bank loan against securities?

The processing fee charged by ICICI Bank loan against securities is ranging from 0.25% of the loan amount subject to a minimum Rs.5000 plus applicable service tax.

4. How much interest rate is charged by ICICI Bank loan against securities?

The interest rate charged by ICICI Bank loan against securities is 8.20% to 12.50% per annum.

5. How to apply for ICICI Bank loans against securities online?

Today, almost every bank in India provides you with the option of availing loan against securities online. The whole process is fast and hassle-free. You can visit the official website of the bank from whom you wish to avail the loan and click on the ‘Apply Now’ button. You will have to enter the details required by the lender and upload the necessary documents. Once the bank has verified the details and documents submitted by you, the loan amount will be disbursed to your bank account.

6. What is a loan against securities?

Loan against security is an overdraft facility that you get in return for pledging securities, such as mutual funds, bonds, shares and life insurance policies. It provides the benefits of a current account while letting you pay interest only on the amount used.

 

Last Updated on : 27/Aug/2020

Know More About

Icici Bank Loan Against Securities

You're eligible for a Icici Bank Loan Against Securities if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Loans Against Securities is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Icici Bank Loan Against Securities Interest Rates

Updated on 25 Nov 2017

Icici Bank Loan Against Securities Details
Interest Rate (Monthly reducing balance) 8.2% - 12.5%
Processing Fees 0.25% of the loan amount subject to a minimum of Rs. 5000 plus applicable service tax
Loan Tenure year to years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Loans Against Securities EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959