Loan Against Shares

Do you have shares lying in your demat account and yet worrying about meeting your expenses? You can now avail of Loan Against Shares (LAS) from the comfort of your home under the Insta LAS facility!

All you need to do is, login to ICICI Bank Internet Banking, select the shares that you wish to pledge, confirm the request at NSDL … and the limit is set!

APPLY NOW for instant approval and faster processing of your

loan

Eligibility

The applicant should be between 21 and 75 years of age.

The applicant should be a subscriber to a telephone (landline) either at residence or officeand Hindu Undivided Families (HUFs) can apply.

Demat Shares

Only Individuals can apply. [Hindu Undivided Families (HUFs), Companies, Partnerships, Sole Proprietors are specifically excluded.]
Loans are granted only against the list of approved scripts, as determined by ICICI Bank.

Life Insurance Policies

For life insurance policies, Individuals, Companies, Partnerships, Sole proprietorships, Hindu Undivided families (HUFs) can apply.
Loans are granted only against the list of approved insurance policies, as determined by ICICI Bank.

Mutual Fund Units

For Equity oriented funds – Only Individuals can apply. [Hindu Undivided Families (HUFs), Companies, Partnerships, Sole Proprietors are specifically excluded.]
For Debt Funds/FMP/ETF – Individuals, Hindu Undivided Families (HUFs), Companies, Partnerships and Sole Proprietors can apply.
Loans are granted only against the list of approved Mutual Funds/ schemes, as determined by ICICI Bank.

GOI Bonds

Individuals and Hindu Undivided Families (HUFs) can apply.

Loan Amount

You are given a drawing power up to 50% of the value of the shares.
Since the market price of the scrips keep fluctuating, the scrips are revalued weekly (every Friday), or more frequently if required, and the drawing power is revised accordingly. If the new drawing power is less than the outstanding in the current account, you would be required to put in the difference amount or pledge more shares to regularize the account. On the other hand, if the drawing power rises, the limit available to you also automatically increases.
Minimum loan amount is Rs 50000.
Maximum loan amount is Rs 20 lakh.
The loan is applicable for a year and renewable at the end of each year.

Mutual Funds

50% lending on the NAV.
Minimum loan amount is Rs.50000.
Maximum loan amount is Rs. 20 lakh.

Life Insurance Policies

Minimum Loan amount is Rs.50000
Maximum loan amount is Rs. 5 Crore

Bonds

Minimum Loan amount is Rs.50000
Maximum loan amount is Rs. 5 Crore

Disbursement

Disbursement will be by way of a credit limit set in your current account

Service Charges

Interest is charged only on the amount drawn and for the period for which it is utilized. Interest is calculated on a daily basis and debited to your current account on the last day of every month. The amount debited has to be paid back by you into the current account to regularize it. Stamp duty varies from state to state

Description of Charges	Loan Against Securities
Non Refundable Loan Processing charge	Rs. 3500 plus applicable GST. CARLB Cases : 0.50% of the loan amount subject to a minimum of Rs. 5000 plus applicable GST.
Non Refundable Renewal charge	Rs. 2500/- p.a. plus applicable GST on renewal at the end of each year.
Pre-payment charge	Nil
Solvency certificate
Penal interest on amount drawn in excess of the drawing power	Applicable Rate + 6% + applicable taxes or other statutory levies, if any
Sale of security in the event of default	The brokerage and other charges as per actuals
Charge for changing from fixed rate of interest to floating rate of interest	N.A.
Charges for changing from floating rate of interest to fixed rate of interest	N.A.
Cheque Swap charge	N.A.
Document Retrieval charge	N.A.
Cheque return charge	Rs. 250 per instance
Charges for Interim Valuation Report (IVR)	Rs 50/- per IVR

GST, applicable as per the prevailing rates will be charged in addition to these charges.

Annual Percentage Rate

APPLY NOW for instant approval and faster processing of your

loan