Process to Apply for Loan Against Securities
Opting for a Loan Against Securities from YES BANK brings you a host of benefits and advantages. It allows you to receive the funds you require without liquidating your investments. A Loan Against Securities is ideal for those who need quick availability of funds for personal or business uses and can repay the loan in a few months, as per the agreement.
Features of Loan Against Securities
The maximum loan amount that can be availed under a Loan Against Securities from YES BANK is INR 5 crores, depending on the type and value of securities pledged (mutual funds , shares in a DEMAT account, or a life insurance policy), previous banking records and other factors. The loan is sanctioned with the understanding that it is to be used for contingency expenses or for personal use.
Applying for a Loan Against Securities at YES BANK is a quick and easy affair. To apply for this loan, you need to be an existing customer of YES BANK.
Here are a few things you need to keep in mind while applying for a Loan Against Securities at YES BANK:
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You are required to open a current account with an overdraft facility at YES BANK for the purpose of availing the loan. You can apply to open an account in person at your nearest YES BANK branch or online through our website. You can also initiate the process through phone banking.
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Fill up the application form for Loan Against Securities (available on the website).
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Provide all the necessary documents along with attested photocopies for verification at your nearest YES BANK branch.
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Since the loan is an overdraft loan, it can only be availed in a single name. Joint applications are not possible.
If you require any assistance or have any queries about Loans Against Securities, contact us at YES BANK and we will be happy to be of assistance.
