Loan Against Securities By State Bank of India

LOANS AGAINST DEBENTURES

About

Leverage your investments in debentures, public sector bonds and Government securities for loans to meet unforeseen expenses!! You need not miss out on the next stock market boom!!

Avail of loans up to Rs.20.00 lacs against your debentures to enable you to meet contingencies, personal needs or even for subscribing to rights or new issue of shares.

Features

Eligibility

This facility is available to our existing individual customers enjoying a strong relationship with SBI. This loan could be availed either singly or as a joint account with spouse in 'Either or Survivor'/ 'Former or Survivor' mode. It is offered as an Overdraft or Demand Loan.

Purpose

For meeting contingencies and needs of personal nature. Loan will be permitted for subscribing to rights or new issue of debentures against the security of debentures. Loan will not be sanctioned for (i) speculative purposes (ii) inter-corporate investments or (iii) acquiring controlling interest in company / companies.

Loan Amount

You can avail of loans up to Rs 20.00 lacs against your debentures.

Repayment Schedule

To be liquidated in maximum period of 30 months through a suitable reducing DP programme.

In case of a default or if the outstanding is over Rs.20.00 lacs, the debentures will be transferred in the name of the Bank.

Nature of Loan

Overdraft / Demand Loan with the Repayment programme maximum 30 months

Margin

You will need to provide a margin amount of 50% of the prevailing market prices of the non-convertible debentures being offered as security.

Security

Pledge of the debentures against which loan is sanctioned.

Coverage

Scheme is available at select branches at 50 centers.

Fees

Processing Fees : Nil

Interest Rates

Click Here For Interest Rates

 

List of Identified Centers

1.

Ahmedabad

Baroda

Surat

Gandhinagar

Rajkot

2.

Bangalore

Mysore

 

 

 

3.

Bhopal

Indore

Jabalpur

Raipur

Gwalior

4.

Bhubaneswar

Cuttack

Sambalpur

 

 

5.

Chandigarh

Jallandhar

Ludhiana

Amritsar

 

6.

Chennai

Coimbatore

Tirupur

 

 

7.

Guwahati

Shillong

 

 

 

8.

Hyderabad

Visakhapatnam

Karimnagar

Tirupati

 

9.

Kolkatta

Siliguri

Asansol (Bardhamon)

 

10.

Lucknow

Varanasi

Kanpur

Allahabad

 

11.

Mumbai

Pune

Panjim

Aurangabad

Nagpur

12.

New Delhi

Jaipur

Agra

Udaipur

 

13.

Patna

Ranchi

Bhagalpur

 

 

14.

Thiruvananthapuram

Cochin

 

 

State Bank of India (SBI), with a 200 year history, is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. The Government of India is the single largest shareholder of this Fortune 500 entity with 61.58% ownership. SBI is ranked 60th in the list of Top 1000 Banks in the world by "The Banker" in July 2012.

The origins of State Bank of India date back to 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established. In 1921, the Bank of Bengal and two other banks (Bank of Madras and Bank of Bombay) were amalgamated to form the Imperial Bank of India. In 1955, the Reserve Bank of India acquired the controlling interests of the Imperial Bank of India and SBI was created by an act of Parliament to succeed the Imperial Bank of India.

The SBI group consists of SBI and five associate banks. The group has an extensive network, with over 20000 plus branches in India and another 173 offices in 34 countries across the world. As of 31st March 2012, the group had assets worth USD 359 billion, deposits of USD 278 billion and capital & reserves in excess of USD 20.88 billion. The group commands over 22% share of the domestic Indian banking market.

SBI's non- banking subsidiaries/joint ventures are market leaders in their respective areas and provide wide ranging services, which include life insurance, merchant banking, mutual funds, credit cards, factoring services, security trading and primary dealership, making the SBI Group a truly large financial supermarket and India's financial icon. SBI has arrangements with over 1500 various international / local banks to exchange financial messages through SWIFT in all business centres of the world to facilitate trade related banking business, reinforced by dedicated and highly skilled teams of professionals.

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