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ICICI Bank ICICI Bank

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SUITABLE FOR

 Easy access to funds without selling investments

  • Interest is charged only on the utilised amount and for the time the funds are used

  • Attractive interest rates

  • Loans against various securities

  • Minimal documentation

VIEW INTEREST RATES & CHARGES

 

 

 

 

 

How to Apply for LAS?

About Loan Against Securities 

What is a Loan Against Securities?

Loan Against Securities (LAS) provides you access to funds as an overdraft, without liquidating (i.e. selling) your investments. You have to pay interest only on the utilised amount and for the duration the amount is used.

What securities can be pledged for LAS?

You can pledge approved securities such as Demat shares, Mutual Funds (Equity and Debt), ETFs, FMPs, Life Insurance policies and Bonds.

What is the maximum loan amount that I can get under LAS?

The Loan amount you can get under Loan Against Securities varies as per the security pledged. Details are given below:

  • Shares: Up to 50% of the total value of pledged shares, capped at a maximum amount of ₹ 20 lakh
  • Mutual Funds:
  • Equity Mutual Funds: 50% of the total value of pledged Mutual Funds, capped at a maximum amount of ₹ 20 lakh
  • Debt Mutual Funds: 80% of the total value of pledged Mutual Funds, capped at a maximum amount as per the Bank’s Credit Approval Authority

Minimum amount for both Equity and Debt Mutual Funds: ₹ 1 lakh

  • ETFs: 50% of the total value of pledged ETFs, maximum amount as per the Bank’s Credit Approval Authority
  • FMPs: Minimum ₹ 1 Lakh, maximum amount as per the Bank’s Credit Approval Authority
  • Life Insurance policies: Minimum ₹ 50,000, maximum amount as per the Bank’s Credit Approval Authority
  • Savings Bonds: Minimum ₹ 50,000, maximum amount as per the Bank’s Credit Approval Authority.

What are the benefits of LAS?

LAS provides instant liquidity, an overdraft facility, no pre-payment charges and interest is paid only on the amount utilised and for the duration the amount is utilised.

 Loan Against Securities FAQs

What documents do I need to submit to apply for LAS?

The following documents are required to apply for Loan Against Securities:  

  • Identity Proof
  • Address Proof
  • Signature Proof.  

If you represent Companies / Proprietorships / Partnership Firms, you will need to submit IT returns, an audited Balance Sheet and a Profit & Loss Account of the previous two years.

Can I get a Loan against all types of Mutual Funds?

No, only approved Equity Mutual Funds and Debt Mutual Funds registered with CAMS are eligible for LAS.

Where will my LAS Account be opened?

Your LAS Account will be opened at the Branch that has been specified by you. However, you can operate out of any of our Branches under the ‘Anywhere Banking’ facility.

I have shares that are in the approved list but they are in the physical form. Can I get a Loan against the shares?

Yes, but you will have to first convert the shares into dematerialised form. Get your shares dematerialised through a Depository Account with ICICI Bank/ any other Bank.

What are the maximum and minimum limits to avail Loan Against Securities?

The maximum limit is Rs 20 lakh and the minimum limit is Rs 50,000 as per the market value of the security.

Are pledge creation and closure charges levied on the Loan availed?

Yes, the pledge creation and closure charges are levied on the Loan availed by the respective Depository Participants (DP) as per their pricing schedule and these charges are to be borne by the client.

VIEW ALL FAQ’s

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