Axis Bank Loan Against Security | Interest Rates | Documents | Eligibility
Loan Against Security Axis Bank: Get Details on Loan Against Security Documents, Interest Rates, EMI, Process and Eligibility from Axis Bank Online.
Unlock your financial assets
- Facility only to individuals
- Facility in the form of overdraft against list of approved securities
- Facility upto 75% of security value
- Interest charged on actual amount utilized
- No EMI or post dated cheques required
- No pre payment charges
- Cheque book facility
- Term Loan facility available against select securities
Overdraft facility can be availed against pledge of:
- Mutual Fund units – Facility limit up to 50% of NAV (Net Asset Value)
- Life Insurance Policies issued by LIC
- National Savings Certificate (NSC)
- Kisan Vikas Patra(KVP)
Eligibility: Applicant should be above 21 years of age at the time of application
Interest Rates:
| Sr. No | Loan amount (Rs.) | Rate Of Interest (p.a.) |
|---|---|---|
| 1 | Upto Rs. 10.00 lacs | 13.00% |
| 2 | Above Rs. 10.00 lacs | 12.75% |
Documents:
| 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 for mutual funds |
| Guarantor form | Optional. (Mandatory in case of joint holding) |
| Pledge Creation form | Mandatory for creation of pledge |
Source: Axis Bank Official Website
