Loan Schemes


Loans against Shares / Debentures / Bonds

  • Loans / advances may be granted against the security of shares / debentures of Joint Stock Companies upto Rs. 10 lac or upto such limits and margin fixed by the Reserve Bank of India from time to time
  • Interest at the prevailing rates shall be charged subject to change from time to time. Interest will be payable every month. Penal interest @ 2% over the prevailing rates shall be charged on all the overdue installments and interest overdue upto 3 months. If interest is overdue exceeding 3 months, penal interest shall be charged at 16% p.a
  • Repayment period may be allowed upto 36 months in case of term loans and in case of CC/OD the same will be for a period of one year in the first instance. In case the borrower desires to extend the period , it may be sanctioned subject to such conditions as the Bank may specify
  • Bank shall follow the procedures for transfer of shares/registering Banks charge over shares taken as security and shall monitor the movement of prices of the shares on daily basis. In case of deterioration in the value of shares, the same shall be disposed off immediately to recover the loan