The purpose of loan against securities is to take care of all your investment as well as personal needs, and to help you meet your contingencies.
Yes, this is a unique feature of loan against securities. You enjoy all the benefits of being an investor like dividend or bonus, while your shares/mutual fund units are pledged to Tata Capital Financial Services Limited for loan purpose.
No, currently Tata Capital deals with Bonds/FMP's as selected by the company.
You can pledge your own securities, or those of your blood relative (parents, spouse, children and siblings only) above 18 years of age. If you are pledging securities that belong to anyone other than yourself, the security holder must be a signatory to the overdraft agreement as a Co-Applicant. Check for eligibility.
The loan amount ranges from Rs.5 lacs to Rs. 10 crores (7.5 crores against Shares/Mutual Funds and 10 crores against Bonds/Debt Instruments). On specific approved scripts, Tata Capital may finance as single script finance based on terms and conditions being met and approved.
Yes, an e-statement can be sent to your email account.
Yes, all the shares must be in the Demat form only. Mutual fund units can be in Demat or in physical form.
Yes, you can avail a loan against your shares by simply converting them into the dematerialized form through a depository account.
Yes. You can pledge shares held with any Depository Participant in NSDL or CDSL.
An overdraft account will be set up with Tata Capital Financial Services Limited. This account will have a certain drawing limit, which you can utilize as and when required. Drawing limit depends upon the quality and quantity of the shares/mutual fund units pledged by you.
Yes the account limit is fixed but the drawing power varies as per the market value of the shares/mutual fund units. You may also change the drawing power by pledging more shares/mutual fund units, or decrease it by withdrawing the securities.
The portfolio will be revalued daily. However, in case of a sharp fall in market prices, an interim revaluation may happen any time.
You will be charged a nominal processing fee. The interest will be charged only on the amount you draw and for the period that you draw it. Also, the interest will be charged on a daily basis, but will be debited to your account only once a month. Visit our Service Charges page to know more.
No personal guarantor is required to avail the facility.
You will not be required to give any other collateral or security apart from the shares/mutual fund units, against which the loan is guaranteed.
Yes, you can prepay your loan when you want.
You can call us at any time on our customer care number, 1800-209-6060, to check the status of your account, details of the shares/mutual fund units pledged, the amount availed against different scripts/units, details of shortfall if any etc.
Yes, you may pledge more securities to increase the drawing power of your account. It will take 2 business days for the drawing power to change. You can change the Depository Participant ("DP") but the Sanction Limit cannot be changed. The TAT will be a maximum of 2 days.
A monthly notification will be given, informing you about the interest due. You can make the payment through ECS/Cheque/Pay Order/Demand Draft.
Simply fill an application form available at any of our branches or SMS "LAS" to 56161561 and we will get back to you within two business days. You can also get in touch with us by calling at 1800 209 6060.
The actual time taken to sanction and process the loan depends on the time taken to establish the creditworthiness of the borrower.
Yes, you can still avail the loan based on your profile, credit strength etc. Please feel free to contact us, so we can advise based on the merits of your case.
Yes, you can make part-prepayment of your loan any time after 3 months.
Recently there have been cases of fraud being committed under the name of Tata Capital or Tata Finance. Customers are requested to read the attached advisory and be aware of misleading advertisements in the newspapers. Click here to read the advisory and be aware of misleading advertisements in the newspapers.
Our Turnaround Time (TAT) varies with the level of complexity in the case, cooperation of the customer in disclosing all his financial obligations & income sources as well as the profile of the customer. We have a dedicated team of Credit Managers who strive to deliver a decent TAT to the customer. Normally, after the file of the customer is handed over to us, we give a confirmation by issue of a SANCTION LETTER to the customer within 4-5days for Salaried Clients & 7-8 days for Self Employed clients.