HDFC Bank : Digital Loan Against Securities Procedure
Organisation : HDFC Bank Ltd
Facility : Digital Loan against Securities LAS
Home Page : http://www.hdfcbank.com/
Terms & Conditions : https://www.statusin.in/uploads/22841-Digital-LAS.pdf
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HDFC Bank Digital LAS
** Paperless, overdraft facility against shares in under 3 minutes
** To benefit first-time borrowers with no credit history
Related / Similar Facility :
1. HDFC Bank Check Status of Loan Application
In a first in the country, HDFC Bank Ltd., today launched an instant Digital Loan against Securities (LAS). Customers can now avail of a loan against shares in just 3 easy steps on Net Banking.
Steps
1. Select shares to be pledged on Netbanking
2. Accept agreement through one-time password (OTP)
3. Pledge shares with National Securities Depository Limited (NSDL) online through OTP
HDFC Bank is the first Bank in India to completely automate the entire process of creating an overdraft facility in a separate current account for loan against shares.
The Bank has collaborated with NSDL to create a seamless customer experience. HDFC Bank Demat Customers can calculate their eligibility for overdraft limit against shares, and open a current account instantly.
The entire process can now be completed in under 3 minutes, instead of days. Currently available for demat shares only, this facility will soon be extended to other securities such as mutual funds, bonds, and insurance policies.
Digital LAS empowers the customers to design their own loan against shares at their convenience and avail of the facility within minutes. Customers with shares in their portfolio can leverage it when there is an urgent need for money, for example a medical emergency.
Benefits
** Instant current account opening within minutes
** First time borrowers who don’t have a credit history can easily avail LAS
** Interest applied only on amount utilised
** Auto-renewal of loan facility
** Withdrawals and Enhancements done online
About Us :
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India’s leading housing finance company,
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its 37 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.
Contact Us :
HDFC Bank Ltd ,
Rajiv Banerjee Vice President,
Corporate Communications HDFC Bank Ltd.,
Mumbai