Axis Bank Loan Against Shares | Interest Rates | Eligibility | Documents
Axis Bank Loan Against Shares: Get Details on Features, Eligibility, Documents, Interest rates and Charges and Terms and conditions.
Loan against shares is provided only to meet customer’s personal needs.
- Facility only to individuals
- Overdraft facility against single and combination of scrips in dematerialized form from the list of approved scrips
- Facility will be renewed / reviewed after 12 months from the date of sanction
- Interest charged on actual amount utilized – no EMI or post dated cheques required
- Shares can be pledged from any Depository Participant across the country
- Cheque book facility
Eligibility:
- Only resident Indians are eligible to apply
- Applicant should be above 21 years of age at the time of application
Documentation Required
| Purpose | Documents |
|---|---|
| Proof of identity | Voter’s ID card or driving license or PAN card or employees ID card or government department ID card |
| Proof of income | Latest salary slip showing all deductions or Form 16 along with recent salary certificate / IT returns of last 2 years |
| Proof of residence | Bank account statement or latest electricity bill or latest mobile or telephone bill or latest LIC policy or insurance premium receipt or existing house lease agreement |
| Bank statement or Pass Book | Last 6 months |
| Holding Statement | Latest statement of holding |
| Guarantor form | Optional. (Mandatory in case of jointly held demat holding) |
| Pledge form | Mandatory for creation of pledge |
Interest Rates and Other Charges:
| Sr. No | Loan amount (Rs.) | Rate Of Interest (p.a.) |
|---|---|---|
| 1 | Sanction Limit upto Rs.20.00 lacs | 12.50% |
Check the Fees & Charges for Loan against shares
Other Charges:
| Sr. No | Type | Charges |
|---|---|---|
|
1
|
Cheque Book Issuance charges | Rs. 100/- plus service tax as applicable |
| 2 | Repayment Instruction/Instrument Return charges | Rs. 500/- plus service tax as applicable per instance |
| 3 | Swap Charges | Rs. 150/- plus service tax as applicable |
Schedule of Charges:
| Sr. No | Type | Charges |
|---|---|---|
| 1 | Processing Fee Charges | 1% of the loan amount plus service tax as applicable |
| 2 | Default Interest Rate | @24% per annum, 2% per month |
| 3 | Minimum Interest Charges | Rs. 20 per month |
| 4 | Scheme Code Conversion Charges | Rs. 150/- plus service tax as applicable |
| 5 | Cheque Book Issuance charges | Rs. 100/- plus service tax as applicable |
| 6 | Repayment Instruction/Instrument Return charges | Rs. 500/- plus service tax as applicable per instance |
| 7 | Cash Deposit Charges (Home Branch) | Rs.2/- for per Rs.1000/- |
| 8 | Cash Deposit Charges (Non Home Branch) | Rs.4.50/- for per Rs.1000/- |
| 9 | Cash Withdrawal Charges (Home Branch) | Free |
| 10 | Cash Withdrawal Charges (Non Home Branch) | Rs.2/- for per Rs.1000/- |
| 11 | NEFT | Up to Rs. 1 lac – Rs. 5 per transaction; above Rs. 1 lac to Rs. 2 lacs – Rs. 15 per transaction; above Rs. 2 lacs – Rs. 25 per transaction |
| 12 | RTGS | above Rs. 2 lacs to Rs. 5 lacs – Rs. 25 per transaction; above Rs. 5 lacs – Rs. 50 per transaction |
| 13 | Debit Card Charges | Issuance : Rs 95 per Card Annual Charge : Rs 100 per Card |
| 14 | Account Statement – By post and e-mail | Free |
| 15 | Account Statement – Duplicate statement from Branch | Rs 50 per statement |
