The Vijaya bank loan against shares is a facility offered by Vijaya bank in which the bank provides some loan or advance in lieu of approved shares owned by you. Your assets like shares provide the much needed liquidity, without selling them, in the form of Vijaya loan against shares. Vijaya bank is a growing nationalized bank in terms of banking services as well as products like loans. By means of loan against shares Vijaya bank is trying to reach out to a larger customer group. Here is an overview and some of the noticeable features and benefits of the Vijaya bank loan against shares. We at Money Super Bazaar have tried to review the product to the best of our knowledge. We would however advise the readers to check with the bank for the best and latest information.

The Vijaya loan against shares could be in the form of loan advance or an overdraft. The maximum limit of the Vijaya bank loan against shares could go up to 20 lakhs. The loan amount of course depends mainly on the market valuation of your assets. For its loan against shares Vijaya bank does offers special schemes and discounts for the existing customers, but new customers are also welcome. The Vijaya loan against shares is open to individuals, stock and share brokers and trusts and endowments. The Vijaya bank loan against shares has a special category for non resident Indians. But for NRIs to procure the loan against shares Vijaya bank requires certain mandatory conditions to be met. However, as of now only selected branches of the bank offer the Vijaya loan against shares facility.

The Vijaya loan against shares comes with attractive and low interest rates. The nationalized banks are anyways known for low interest rates, transparency and slow processing. Characteristics like slowness in processing might also apply to the Vijaya bank loan against shares, but when processing requests like loan against shares Vijaya bank does adopts all possible fair and best practices with an adequate amount of transparency.

The loan disbursement process is similar to what other banks follow. To disburse the loan against shares Vijaya bank opens an account for the borrower with all the facilities that are associated with a normal bank account. The interest is charged only on the amount withdrawn.