Loan Against Securities: Tata Capital is offering a loan of up to Rs 5 crore against securities. The financial services company of the Tata Group has introduced a new feature -- ‘Loan Against Shares’ (LAS), that allows stock market investors to apply for a loan up to Rs 5 crore.
To get loan, stock market investors would require to simply pledge their dematerialised shares online which is facilitated by securities depository National Securities Depository Limited (NSDL).
Tata Capital said that the loan amount will be customized based on the value of shares in the portfolio of the customer. The entire process will be paperless and aims to provide customers with an easy and seamless experience.
“Digital LAS is part of our endeavour to enable our customers to meet their financial requirements in way that is simple and convenient. Further, LAS offering can be customized and customers can have quick access to funds," Abonty Banerjee, Chief Digital Officer, Tata Capital, said.
Key benefits
- End to End paperless journey – from registration to loan account creation
- Online KYC and pledging of shares via NSDL
- Electronic signing of loan documents along with E Nach facility
- Easy-to-use online portal for disbursement, repayment, additional pledging and de-pledging
Tata Capital had earlier launched ‘Loan against Mutual Funds’ wherein mutual fund investors can pledge their investments to get loans.
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