Loan Against Securities: Eligibility and Documents

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Loan Against Securities: Eligibility and Documents
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3 mins read
30-August-2024

Eligibility criteria for Loan Against Securities

To qualify for a loan against securities, borrowers must meet specific criteria set by the lending institution. These typically include:

  • Stable income: A regular income is essential to assure the lender of your repayment ability.
  • Income proof: Submission of income documents such as payslips, bank statements, or income tax returns.
  • Portfolio value: Minimum Rs. 50,000
  • Minimum age: The applicant must be at least 18 years old.
  • Maximum age: This may differ from lender to lender. Bajaj has a age limit of upto 90 years for Loan Against Securities.
  • Documents showing ownership of shares, bonds, or mutual funds

Frequently asked questions

What is the minimum credit score required?
The minimum credit score required for a loan against securities typically ranges from 685 or higher. A higher score may improve the chances of loan approval and better interest rates, but exact requirements vary by lender.

How long does it take to process a loan against securities?
Loan against securities processing usually takes 1 to 3 working days, depending on the lender. Quick verification of the pledged securities and submitted documents may ensure faster loan disbursal, especially with reputed financial institutions.

Can I apply online for a loan against securities?
Yes, many banks and financial institutions offer online applications for loans against securities. You can fill out the form, submit documents, and pledge securities digitally, making the process more convenient and faster.

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