The Buyt Desk
Tata Capital has announced to offer a loan of up to Rs 5 crore against securities. It is called ‘Loan Against Shares’ (LAS).
How You Can Apply for Loan Against Stock
To avail loan against the stock, the investor has to present their dematerialised shares online. The stock an investor is pledging must be facilitated by the securities depository National Securities Depository Limited (NSDL). Tata Capital would sanction the loan after evaluating the value of the shares pledged by the customer for the loan. To make the process easier, Tata capital has made the process paperless. With this, the company aims to provide a seamless experience to people applying for loans against security.In a press release, Tata Capital Abonty Banerjee, Chief Digital Officer said, “Digital LAS is part of our attempt to let our customers meet their financial requirements simple and convenient. Additionally, offerings of LAS can be customized so that customers can have easy and quick access to funds,”
What Benefits You Will Get from This Facility
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There is no paperwork required. It will be an end-to-end paperless journey.
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From registration to creating an account for receiving the loan amount, the whole process would be online.
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There would be online KYC, and shares pledging will be done via NSDL.
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The document will be signed electronically along with the E Nach facility.
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There will be an online portal for disbursement of the corpus, its repayment, additional pledging and de-pledging.
It is yet another initiative of Tata Capital for investors. Before this, Tata
Capital had launched ‘Loan against Mutual Funds’. In this service, investors can
pledge mutual funds to get loans.
