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Loan Against Securities
Do you have an urgent need for cash? You can now avail of loan against securities (LAS) from the comfort of your home under the Instant LAS facility! Get high-value loans up to 85% of the value of your securities at attractive interest rates and avail of overdraft facilities against your shares and mutual funds, bonds and life insurance policies. Before you apply for loan against securities with Axis Bank, make sure to read the features and benefits listed below.
Features & Benefits
Enjoy attractive interest rates
Rate of interest starting from 11.99% p.a.
Facility tenure
An overdraft facility is granted for 12 months. This is reviewed and renewed at annual rests. *T&C apply.
Pay interest only on the amount utilised
Interest charged only on the amount utilised – no EMI or post dated cheques required.
Earn dividend
Continue to earn your dividend on the shares
Limit setup & processing times
- Limit setup in 5 mins with digital loan against mutual funds
- Limit within one day for shares and mutual funds with NSDL
Explore multi-channel banking
Debit or ATM card and cheque book facilities available
How to apply for digital loan against securities
Applying for loan against securities (Digital LAS) is a fairly simple process. All you need to do is follow the below mentioned steps:
- 01
Login to our website link or apply from ‘open’ mobile banking app or internet banking by browsing to loans centre -> 24x7 loan against securities
- 02
Select securities and review the drawing power and accounts to pay with.
- 03
Accept t&c, and pay charges. An overdraft (OD) account will be created now.
- 04
Add nominee
- 05
Enter OTP to get the drawing power. Start utilising your funds now.
Axis Bank Instant Loan Against Securities
Interest Rates & Charges - Loan Against Securities
Interest rates & charges - loan against securities
Review the associated fees and charges to make an informed decision.
| Interest rates & charges* | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Sr. no | Product | Rate of interest (p.a.) | ||||||||
| 1 | 24x7 Loan against securities (Digital) |
| ||||||||
| 2 | Loan against securities (physical) |
| ||||||||
| Renewal charges | ||
|---|---|---|
| Sr. no | Product | Charges |
| 1 | Loan against equity mutual fund | ₹3,500/- plus GST |
| 2 | Loan against debt mutual fund | 0.1% of sanctioned loan amount or ₹5,000/- which ever is lower + GST |
| 3 | Loan against listed bonds/Non convertible debentures | 0.1% of sanctioned loan amount or ₹5,000/- which ever is lower + GST |
| 4 | Loan against life insurance policies. | ₹3,000/- plus GST |
| 5 | Loan against equity Shares | ₹3,500/- plus GST |
| Other charges | ||
|---|---|---|
| Sr. no | Type | Charges |
| 1 | Processing fee charges | Up to 0.50% of sanctioned loan amount or ₹2,500/- whichever is higher plus GST |
| 2 | Penal charge |
|
| 3 | NEFT | As applicable at Bank Level* |
| 4 | RTGS | As applicable at Bank Level* |
| 5 | Pledge charges (Non-refundable) | As applicable |
| 6 | Charges for changing from fixed to floating rates of interest | NA |
| 7 | Charges for changing from floating to fixed rates of interest | NA |
| 8 | Prepayment charges | NA |
| 9 | No due certificate | NA |
| 10 | Solvency certificate | NA |
| 11 | Stamp duty charges (Non-refundable) | As applicable |
| 12 | Cooling off period | 3 working days for both digital and physical loans Following to be levied on loans cancelled in cooling-off period:
|
Charges for other service are levied as applicable to normal current account
With effect from 1st July 2017, Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)
For further details, please click here
*In case you need to cancel the loan within the cooling period. Please follow the below mentioned process. Visit Axis support page click here of the Axis banks website, click on connect via Email.
- Click on Start Selection here ❮Select Loans❯
- Click on continue select loan ❮Select Loan Product Type❯
- Click on choose your Query ❮Loan Cancellation❯
- Click on choose your query ❮How do I cancel my loan❯
- Click on Email tab and send the request along with the following details mentioned below.
*Account number, Name on the account, Registered mobile number
**Working day shall mean all days except Sundays, 2nd & 4th Saturdays of the month & all state holidays applicable as per Maharashtra (either planned or declared as followed by Axis Bank).
**No penalty is charged if the overdraft account is closed within the cooling off/ look up period (3 working days). Processing fees, stamp duty, pledge charges, other statutory charges (if applicable) and GST would not be waived/refunded in case of account closure within cooling off/look up period. However, if the customer utilizes the overdraft facility, then interest till the date of closure will be charged in case of account closure within cooling off/ look up period.
Approved loan against securities
Pledge from a wide range of approved securities
| Collateral | LTV (Loan-to-Value) in your overdraft account* | Approved scripts |
|---|---|---|
| Shares | Up to 50% of the value of the share | Multiple Scrips Single Scrips |
| Equity mutual fund | Up to 60% of the NAV | Approved Mutual funds list |
| Debt mutual fund | Up to 85% of the NAV | Approved Mutual funds list |
| Listed bonds/ Convertible debentures | Up to 70% of the market price | Approved bond list |
| Life insurance policies | Up to 75% of the surrender value | Approved insurance companies |
* Terms & conditions apply. Loan disbursal is at the sole discretion of Axis Bank Ltd.
Maximum sanction amount for digital loan against securities
| Collateral | Loan amount |
|---|---|
| Debt mutual funds | Up to ₹2 crores |
| Equity mutual funds (In physical format, RTA: KFIN/CAMS ) | Up to ₹10 lakhs |
| Demated shares and equity mutual funds (depository: NSDL) | Up to ₹20 lakhs |
| Bonds | Up to ₹20 lakhs |
*Final drawing power is given based on the pledged/lien marked securities.
Types of loan against securities
Meet your urgent requirement for cash without liquidating your securities. Pledge your securities to get instant loans against bonds and other collaterals and enjoy various other benefits at attractive interest rates. Get access to high-value loans against a wide range of collaterals with Axis Bank’s Loan Against Securities (LAS) from the comfort of your home.
Equity shares
Get a loan against shares at an LTV (Loan-to-Value) ratio of 50%-60%* with an overdraft (OD) facility of up to 50% of the value of the shares. A good number of multiple and single scrips now qualify as approved security.
Equity mutual fund
Avail loan at an LTV ratio of 50%-60%* with an OD facility of up to 60% of the NAV (Net Asset Value). Check whether your equity scheme forms a part of your approved mutual funds.
Debt mutual fund
Being a safe investment avenue, you can avail of a loan against debt mutual funds at an LTV ratio of 70%* and also enjoy an OD facility of up to 85% of the NAV.
Listed bonds/ Convertible debentures:
When you opt for Axis Bank’s LAS, you pay interest only on the utilized amount. For listed bonds and convertible debentures, avail of a loan at an LTV ratio of 50%-60%.
Life insurance policies
To keep your life insurance policy as collateral, contact your nearest Axis branch for details and proceed with a non-digital loan application.
Read MoreThings to consider about loan against securities
- Eligibility check
The basic eligibility criteria remain the same, but it is also a good decision to check for lender-specific eligibility criteria. - Wide range of approved securities
Not all banks offer loans against securities. Thus, opt for a bank that offers loans against equity mutual funds, loans against debt mutual funds, and other securities. - Amount of loan
Lenders offer a certain percentage of pledged security as a loan which may vary for different securities. For example, the percentage for loans against equity mutual funds differs from that for loans against debt mutual funds. - Interest rates
Opt for a bank that offers high-value loans at attractive rates.
APR Calculator
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and loan origination charges.
6K
15Cr
0
50L
APR
8.00%
Listed Bonds/ Convertible Debentures:
When you opt for Axis Bank’s LAS, you pay interest only on the utilized amount. For listed bonds and convertible debentures, avail of a loan at an LTV ratio of 50%-60%. Moreover, you can get an OD facility for up to 70% of the market price. Check the list of approved bonds here.
Life Insurance Policies:
To keep your life insurance policy as collateral, contact your nearest Axis branch for details and proceed with a non-digital loan application. Sixteen major life insurance players are among our approved insurance companies. Apart from instant loans, you can also avail yourself of an OD facility of up to 75% of the surrender value of your life insurance policy.
Note: Only equity shares, mutual funds, and bonds can be pledged digitally. For LAS for securities like LIC policies, NSC KVP, etc., contact your nearest Axis branch. These securities applications can proceed in a non-digital(physical) form.
* Terms & conditions apply. Loan disbursal is at the sole discretion of Axis Bank Ltd.
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Frequently Asked Questions
Loan Against Securities is the fastest and most convenient way to avail loan against marketable securities from the comfort of your home. A customer needs to pledge their shares, mutual funds etc. as collateral to in favour of Axis Bank Limited and avail the overdraft facility. Receive the funds instantly in your account. Pay interest only on the amount utilised.
Don’t sacrifice your long-term goals for short-term needs. Finance a wedding event, children's higher education, house renovation or any emergency expense without redeeming your mutual funds. With LAS, get an instant loan in just 3 minutes for all your short to medium term financial needs.
Yes, you can enhance the drawing power by pledging more securities.
You can pledge securities in Demat form such as Shares, Equity Mutual Funds, Debt Mutual Funds, and Bonds. Only the pledged securities will be considered as collateral. No additional collateral can be used to avail this loan.
The Reserve Bank of India (RBI) vide its circular no DBR.DIR.BC.No.14/13.03.00/2019-20 on “External Benchmark Based Lending” dated September 04, 2019 and RBI vide circular no. DBR. Dir. No.85/13.03.00/2015-16 on “Interest Rate on Advances” dated March 03,2016 , updated as on September 04,2019 has advised to link all new floating rate personal or retail loans (housing, auto, etc.) and floating rate loans to Micro and Small Enterprises extended by banks with effect from October 01, 2019 to external benchmark which can be one of the following:
- Reserve Bank of India policy Repo rate
- Government of India 3-Months Treasury Bill yield published by the Financial
Benchmarks India Private Ltd (FBIL)
- Government of India 6-Months Treasury Bill yield published by the FBIL
- Any other benchmark market interest rate published by the FBIL.
In line with the above circular, Axis Bank has adopted Repo rate as the external Benchmark lending rate with effect from October 01, 2019.
New customer at Repo rate : - All new floating rate loans and credit limits renewed with effect from October 01, 2019 will be linked to Repo rate.
Existing customer at MRR/BPLR/Base rate/MCLR: - Existing loans and credit limits linked to MRR/BPLR/Base rate/MCLR shall continue till repayment or renewal, as the case may be. Only if existing customers approach us and give request for switching from MRR/BPLR/Base rate/MCLR to Repo rate then only it will be changed. Once transitioned to Repo rate, the customer can’t switch back to the old benchmark rates.
All floating rate loans will be linked to Repo rate. The rate offered to you shall be the Repo rate plus spread. It may be noted that the Repo rate would be reset every three months.
Further, the Bank is free to decide the spread over the Repo rate. The spread may undergo a change during the tenure of the loan.
Bank will publish the Repo rate every month on a pre-announced date. The rate applicable to you would be the prevailing Repo rate for that month.
For all loans linked to Repo rate, the reset frequency would be three months.
Yes, you can avail digital Loan against securities if you have demat account of NSDL. For loan against Mutual Funds anyone can apply who is registered with either KFIN/CAMS. But we are working on accommodating all customers in the upcoming versions of this product. Meanwhile, please reach out to your nearest branch to gather details on the same.
Customer can know the drawing power/credit limit while processing the application. Also, after taking loan, customer can check drawing power by logging into Mobile Banking Application or Internet Banking.
To know the interest rate of Loan Against Securities, click here.
Yes, with the repayment of utilised amount, you can anytime foreclose your account. There are no foreclosure charges.
Customer can know the drawing power/credit limit while processing the application. Also, after taking loan, customer can check drawing power by logging into Mobile Banking Application or Internet Banking.
Any customer having 1 single scrip can avail this loan provided the scrip is a part of the approved list of single scrips by Axis Bank. The list of approved scrips can be accessed here.
A customer can get upto 85%* of the actual value of the security pledged by them. The exact amount depends on a couple of factors such as type of securities pledged etc.
Customers can get a minimum of ₹25,000 in lieu of Equity securities and ₹1,00,000 for Debt and maximum of ₹20, 00,000 for Equity and ₹2 Cr for Debt instantly from the comfort of their home.
YES, for all floating rate loans/credit facilities, if customer is on MRR/BPLR/Base rate/MCLR, customer can give request to move to Repo rate. Hence, the benchmark rate and spread shall undergo a change. Since the effective rate is being kept the same, only an administrative fee shall be charged from you.
You are requested to visit the nearest loan center along with the co-applicant(s) and/or guarantor(s), since there would be additional documentation involved.
No, there is no option to move back from Repo rate to Base rate/BPLR/MRR/MCLR.
Applicable Repo rate for each month will be updated on Axis Bank Website.
You will come to know through our Website / SMS / Email/ letter as deemed fit.
Yes, you can enhance the drawing power by pledging more securities.
Yes, part payment can be done without any additional charges incurred.
Yes, you will continue to reap all the benefits of an investor after taking LAS, like receiving dividends/bonus.
Yes, customers will be able to receive all bonus/dividends on the securities pledged by them.
Terms & Conditions
- Bank reserves the right to reject any application/renewal without assigning reasons thereof. It shall be the sole right of the bank to consider the proposal on a case-to-case basis after considering the credentials/creditworthiness of each customer.
- No loan under this scheme is granted for investment in capital market instrument or for speculation purpose.
- The overdraft facility shall be disbursed / renewed only after all the required documentation and pledge creation formalities are complete.
- The margin requirement will be reviewed regularly. In the event of any volatile fluctuations in the prices of the units, the client shall make good the shortfall, if any, within four days, failing which the security will be enforced.
- The applicant will undertake to inform the bank as and when there is a change in address or employment.
The terms & conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank's discretion.
All of the above is subject to terms & conditions.
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