Saraswat Insta Equity Loan

Eligibility:

1. Individuals who are not connected with any Stock Broking firm or activity.

Limit of Loan:

1. Maximum Rs. 10.00 lakh in case of securities in Demat form.
2. Maximum Rs. 5.00 lakh in case of securities in physical form.

Basis of Advance:

1. 50% of the market value of securities. (as per approved list)
2. Overdraft can be granted against shares in demat form only

Repayment Period:

1. Overdraft facility subject to review every year

Rate of Interest:

1. Floating : (PLR – 6.35) 9.25% p.a. (w.e.f  20.06.2025)
2. Present PLR: 15.60% p.a. (w.e.f 20.06.2025)

Reset of Floating Interest Rate on Equated Monthly Instalment [EMI] based Loan:

1. Option to Switch ROI Type:
   Borrowers shall have the option to switch their loan from Floating Rate of Interest (ROI) to Fixed ROI and vice versa, subject to a maximum of two (2) switches in a financial year during the entire tenure of the loan.

1. Applicable Charges:
   A request charge of 0.50% shall be levied on the outstanding loan balance at the time of the switch, irrespective of whether the switch is from fixed to floating or floating to fixed ROI.

Penal Charges:

1. Penal charges in the range of 1% to 2% p.a. each, subject to maximum of 2% p.a. for non-compliance of terms and conditions of loan contract, till such time the same is complied with.

Security:

1. Pledge of shares/Mutual Fund
2. Minimum 2 scrips, no single scrip can exceed 50% of the current market value of the portfolio and the same can be extended to a Maximum of 75% only in the case of A group companies/MF.

Processing Fees: 

1. Nil
2. Pledging Charges as applicable

Shareholding:

1. Rs. 1000/-

Documentation:

1. Duly filled prescribed application form.
2. Latest Photograph, Photo Identity & Residence Proof of the Applicant & Guarantor.
3. Declaration from borrower not being connected to any stock broking activity/firm.