TATA Capital Loan against Securities

Benefits and features of using TATA Capital Loan against Securities

• Overdraft facility available
• Zero foreclosure charges
• Quick processing of application form
• Security swap facility available

Penal charges:

A penal charge of 3% plus outstanding amount per month + GST will be levied on the amount drawn in the excess of the limit applicable.

Features of Loan against Securities

• Loan against security is a secured Loan. Debentures, shares, bonds or mutual funds are offered as collateral.
• The tenure of the loan against security is one year, but it can be easily renewed.
• The rate of interest usually ranges from 12 – 15%. The rate varies from bank to bank.
• The processing fee is usually charged at the rate of 2% of the loan amount.
• The loan amount depends on the security the borrower is offering.
• The no charges for prepayment of the loan.
• The borrower is required to be within the age bracket of 18 – 65 years to apply for a loan against security.
• The loan has to be repaid within the fixed period. If the borrower fails to make the payment, the lender can file a case for recovery and the balance amount has to be repaid within 3 years from the date of sanction of the loan.

Eligibility criteria for Loan against Securities

Given below are some of the eligibility criteria you will be required to fulfill in order to be eligible to avail loan against securities from a bank:

• Should be a resident of India
• Should be at least 21 years of age
• You should either be a salaried or a self-employed individual
• The security against which you are availing the loan should be approved by the bank