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