Looking for a Loan Against Securities to consolidate your debts from HDFC Bank?
You have landed at the right place. This page contains all the information you will need on HDFC Bank’s Loan Against Securities.
HDFC Bank Loan Against Securities
This loan helps borrowers get access to funds by pledging their securities such as shares, mutual funds, bonds, life insurance policies, etc. to the bank. This secured loan can be used to meet any financial needs such as a wedding, overseas travel, higher education, debt consolidation, etc.
Features of Loan Against Securities from HDFC Bank
Why this Loan?
- The HDFC Bank Loan Against Securities is meant for borrowers who want to avail financial assistance by pledging shares, mutual funds, bonds, life insurance policies, etc. to meet their financial needs
- Borrowers can also avail this scheme as a consolidation loan and pay off their debts
- The maximum loan amount sanctioned by the bank under this loan depends on the type of securities pledged by the borrower to avail this loan. Borrowers can get up to 80% of the value of the securities
- The applicable interest rate on this loan may range from 8.70% to 12.35%
- As of October 2020, this information is not mentioned on the bank’s website. We suggest talking to a bank representative before applying for this loan
- The bank accepts pledging of securities for this loan
Margin Money (Borrowers Contribution to Total Cost)
- The bank charges up to 50% of the face value of the prevailing market price of the securities
Note: Margin money refers to the amount the borrower contributes to the overall amount required. The bank will cover the rest. So, if the total amount needed is Rs. 20 lakh, you will have to contribute 20% which comes to Rs. 4 lakh. The bank will provide the balance of Rs. 16 lakh.
- The bank charges 1.00% of the loan amount for processing this loan
Documents Needed for Individuals (Salaried and Self-employed)
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
- Income/Banking Proof for Self-employed Professionals/Insurance Agents: Computation of income of last 2 years, Balance sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.
- HDFC Bank Website: www.hdfcbank.com
- Headquarters: Mumbai, Maharashtra
- Call Centre Number: 1860 267 6161