Prepaying the loan whenever the borrower has the extra funds is good ideas they do not carry prepayment charge.
- Instead of liquidating the assets in an emergency to arrange money, the borrower can take a loan against qualified financial instruments at attractive interest rates.
- Interest rate of loan against securities (LAS) varies, depending on the instrument pledged.
- The borrower can pledge stocks, mutual funds units (equity as well as debt), insurance policies and bonds.
- Lenders have their own lists of priorities that are acceptable. In mutual funds, for example, lenders may accept units of select fund houses. Most banks and non-banking financial companies (NBFCs) have a significant list of stocks against which they are willing to lend.
- LAS comes with lower interest rates compared to a personal loan, has flexible repayment options, and low processing fees. While pledged, the securities continue to accumulate dividends, bonuses, interest etc.
- Usually, lenders require borrowers to service the interest cost each month. The principal component can be repaid according to the borrower’s convenience, without incurring prepayment/foreclosure charges.
- While there are no prepayment or foreclosure charges, there could be overdraft maintenance fee, stamp duty on the loan agreement, pledge creation fee, de-pledging fee, annual maintenance charges, processing charges etc.
|Lender||Interest Rate (%)||Processing Fee|
|Axis Bank||10.5 – 12.75||0.15%|
|UCO Bank||11.90||INR 250|
|Karur Vysya Bank||11.05||INR 500|
|Oriental Bank of Commerce||10.65||Minimum INR 50|
|IIFL||12.00 – 18.00||.25 – 1%|
|Yes Bank||9.70 – 14.70||0.5% of the limit set|
|Tata Capital||10.50 onwards||Up to 1%|
|Bajaj Finserv||9.50 – 12.00||0.1 – 1%|
|Lakshmi Vilas Bank||11.60||0.25%|
For further query you can connect with RD Finance Services.
Greetings from “RD Finance Services”
RD Finance Services Deal in all type of loans
- Loan against property (LAP),
- Project Funding
- Business Loan,
- Overdraft- Cash Credit,
- Loan against Rental Discounting,
- Home Loan,
- Personal Loan,
- Un-secured Loan.
For more information, you can reach to me via @ or call @https://rdfinanceservices.wordpress.com/9891235790 or connect via email @firstname.lastname@example.org.
Now getting a loan is very quick and simple, just fill this 4 step application form fill it and revert back and RD Finance Team is there to help you out.
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