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Get Money In Lieu of Shares From Aditya Birla Finance

Aditya Birla Finance: Customer-focus is the key

In an era where banks were thought to be the only lending institutions, finance companies started mushrooming. The main challenge of these companies was to get the confidence from the general public. One such finance company was the one founded by the famous Birla group. Aditya Birla Finance benefits were so attractive that many people started buying shares in that company. Many schemes were introduced by this company with the sole aim of customer-focus, because that was the key for success.

Cash against shares

Aditya Birla Finance launched a new scheme where shareholders of the company could take a loan against their shares. There were certain terms and conditions attached to this scheme, however, the best feature was that a shareholder did not have to sell his shares. He could just pledge or mortgage his shares and take a loan against them, when he faced an emergency. This scheme proved to highly beneficial for individuals and corporate because this was an easy means of increasing liquidity in terms of crisis.

Features of the scheme

These Aditya Birla Finance benefits could be enjoyed by all shareholders, provided they satisfied certain conditions and agreed to the terms of the scheme. These loans in lieu of shares came with a maximum time limit of one year. However, within this time frame, if a shareholder is able to arrange for funds, then he can repay his loan. A small percentage is levied as charges for prepaying the loan. The minimum loan amount that is approved under this scheme is 1 crore INR. In order to apply for this loan, shareholders need to submit just a few documentations like identity proof, residence proof, salary slip, post-dated cheques etc.

The company takes very little time for processing the loan and usually within 3 to 4 day of pledging the shares, one can get the loan amount. Only amounts equal to or greater than 1 crore INR are currently being sanctioned in this scheme. Loans of very high value will be sanctioned only after the company conducts background checks on the shareholder’s history, repaying capacity, credit worthiness, conduct etc.  The ceiling on minimum loan amount fixed by Aditya Birla Finance is much higher than its competitors. This scheme is a clear attempt to attract customers and to make them think twice about going to nationalised banks for loans as these banks have a lot of restrictions, rules and regulations to be followed.

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