Loan Against Securities
Certainly! A Loan Against Securities (LAS) is a type of loan where you pledge your financial assets, such as stocks, mutual funds, bonds, and other securities, as collateral to obtain a loan from a lender. Here are some key points about LAS:
- Immediate Liquidity: LAS allows you to leverage your investments without selling them. You get immediate liquidity while retaining ownership of your securities.
- Loan Amount: Depending on the lender, you can get a loan amount ranging from ₹25,000 to ₹40 crores.
- Interest Only on Used Amount: You pay interest only on the actual amount used, not the entire sanctioned limit.
- Digital Process: Many lenders provide an online, paperless account opening process for LAS up to certain limits.
- Security Swap: You can swap the pledged securities based on market assessment without any fee, allowing you to continue benefiting from dividends and bonuses while meeting your financial needs.
Remember to check the terms and conditions of the specific lender when considering a Loan Against Securities.
The eligibility criteria for a Loan Against Securities (LAS) can vary between lenders, but here are some common requirements:
- Age: Applicants should generally be between 21 and 65 years old.
- Securities Ownership: You must own the securities you are pledging.
- Value of Securities: The value of your securities should be sufficient to cover the loan amount.
- Credit Score: A good credit score may help you get better interest rates.
Remember to check the specific lender's terms and conditions when considering a Loan Against Securities.
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