When you apply for a loan against equity shares or mutual funds with us, we will create your overdraft account with Tata Capital Financial Services Limited. You can withdraw from this overdraft account to meet your urgent financial requirements. The interest would be charged only on the amount used by you and not on the entire loan limit.
The interest due on your loan against securities limit will get accumulated in your overdraft account on a daily basis. However, you will receive notifications to pay your interest only after the end of every month. You can make the interest payment via Cheque, Demand Draft (DD), or Pay Order (PO). We have implemented NACH/E-NACH facility for presentation and this would make repayment easier and hassle free for you.