Taking a loan against shares is an excellent way of getting access to funds when you need them. Bajaj Finance is one lender that provides this type of lending facility. With a loan against shares from Bajaj Finance, you can pledge your investments in the stock market to secure a loan. Here is how you can apply for a loan against shares from Bajaj Finance.
Eligibility criteria for applying for a loan against shares
To be eligible for a loan against shares from Bajaj Finance, you must meet the following requirements:
- You must be a resident of India
- Your age should be between 18 years to 90 years
- You must be self-employed or a salaried employee
- You should have a minimum holding of shares worth Rs. 50,000
Corporates, HUFs, LLPs, partnerships, trusts, and sole proprietorships can apply for loan against shares of up to Rs. 1,000 crore by reaching us at las.support@bajajfinserv.in.
Steps to apply for a loan against shares from Bajaj Finance
Step 1: Meet the eligibility criteria
Before applying for a loan against shares from Bajaj Finance, ensure that you meet all the eligibility requirements. If you do not meet the eligibility criteria, your loan application may get rejected.
Step 2: Check the loan amount
The maximum loan amount that Bajaj Finance offers against shares is up to 50% of the value of your shares. So, check the current market value of your shares to know how much loan amount you can avail of.
Step 3: Submit the application form
Once you confirm the loan amount, the next step is to submit the loan application form online.
Step 4: Provide the required documents
To process your loan application, you need to submit the following documents:
- KYC documents (Aadhaar/ passport/ voter’s ID)
- PAN card
- Demat holding statement
Step 5: Wait for approval
Disbursement shall be done post successful verification and pledging.
In conclusion, taking a loan against shares from Bajaj Finance is a straightforward process. By following these steps, you can apply for a loan against your shares and get the necessary funds to meet your expenses.
