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Features and Benefits of HDFC Loan Against Security

Features and Benefits

When you avail of the HDFC Loan against Security, you will be in a position to enjoy the benefits of your securities. At the same time, you will still be able to avail of a loan on the same. Here are its Features:

  • No Pre-payment charges
  • No EMIs
  • Exhaustive number of approved securities
  • No Post Dated cheques
  • Interest charged only on utilized amount
  • Term Loan facility also available against select securities
  • Up to 80% Loan
  • Simple and speedy processing

You can avail of the overdraft facility by pledging the following:

  • NABARD's Bhavishya Nirman Bonds
  • Equity Shares
  • Mutual Fund units
  • RBI Bonds
  • National Savings Certificate
  • Gold Deposit Certificates
  • Kisan Vikas Patra
  • Non Convertible Debentures

Benefits

When you avail HDFC Loan against Security, its benefits are as follows:

  • You can easily avail of 80% loan against the value of your securities. What’s more, the bank also offers term loans on selected securities.
  • You will be able to use your investments so as to get liquidity and that too without selling them.
  • Interest will be payable only on the actual use of the loan.
  • Equity Shares – DEMAT Shares of up to 50 per cent of the value.

Purpose Documents

In order to get the maximum advantage of the HDFC Loan against Security, you will have to submit the following documents:

  • Proof of income and IT returns of last 2 years.
  • Residence proof: This can be in the form of a latest LIC policy, a Bank account statement or even the latest electricity bill or existing house lease agreement or latest mobile or insurance premium receipt or telephone bill.
  • Identity Proof: Driving license, PAN card or Voter's ID card or employees ID card or government department ID card.
  • Holding Statement:   The latest statement of holding of the mutual funds.
  • Bank statement or Pass Book: It should be of the last 6 months.

Minimum loan amount:  Rs.2,00,000/-

So, these are some of the major benefits and features of the HDFC Loan against Security.

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