The ICICI bank loan against securities is one amongst the other very useful loan products the bank has to offer. ICICI offer this type of loan against the securities you pledge in favor of the bank. Hence, with an ICICI loan against security, you avoid selling your securities and still get the desired liquidity. There is a list of approved securities by the bank which can be pledged to avail the ICICI loan against securities. The prominent ones are – Demat shares, MF units, Exchange traded funds, Bonds, Insurance policies, NSC and KVP.

The maximum amount for an ICICI loan against security is up to 50% of value of your securities. However, the bank regularly reviews and evaluates the market prices of your shares etc. which can eventually lead to an increase in your drawing power for the ICICI bank loan against securities. The minimum loan amount set by bank is Rupees 1 lakh which can go up to Rupees 20 lakhs for your ICICI loan against security. Also, the loan is disbursed for a period of 1 year with a provision of getting it renewed at the end of year. As per bank’s guidelines, the basic eligibility for the ICICI loan against securities is that the age should be between 18 years and 75 years and the applicant should have a landline telephone connection at office or home. The other eligibility criterions for the ICICI loan against securities are the same as per the standards across all banks.

Let us loot at some of the exclusive and nice facilities offered by the ICICI bank loan against securities. When you are sanctioned an ICICI loan against security, the bank open a current account for you which is equipped with all usual account related privileges like a cheque book, internet banking etc. This bank account is subsequently used to disburse your ICICI loan against securities. You can withdraw money from this account as and when required and the interest will be charged only on the amount withdrawn. So this is one more favorable feature of your ICICI bank loan against securities. Another exclusive facility is that you can also sell your shares online which you have pledged to take an ICICI loan against security. This unique facility is exclusively brought to you by ICICI loan against securities in association with ICICI securities Ltd. So this way you can keep tab of the stock market and take advantage of the rising market prices.

The application process for the ICICI bank loan against securities is simple and quick. You need to fill in some forms, attach some documents and hand it over to your nearest ICICI branch. If you want, leave your contact details at their website and their representatives will get in touch with you. Of course, if you have any more queries, you are most welcome at Money Super Bazaar.