/ HDFC Bank Plans To Introduce Loan Against Shares ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 16 March 2017

HDFC Bank Ltd is planning to offer loans against shares in just two to three minutes via a complete digital mechanism. For this the Bank is in touch with NSDL (National Securities Depository Ltd.).

In this shares that are dematerialised by NSDL and managed through HDFC Bank's demat account could be used for pledging. Thus, to start with this product development, the Bank and NSDL had consulted RBI.

The Bank has made it so easy that the customers can just login to the Bank's website and pledge their shares, which have been dematerialised by NSDL, and can get instant loans, that will be deposited in a newly opened current account. The loan can be roughly around 50% of the value of the shares pledged, depending on the credibility.

For this procedure, the customer need not fill any form or go to any branch. Before this the procedure was quite lengthy where customer needed to visit the bank branch and fill up the forms which would then take few days to process.

 The Bank has listed more than 400 widely traded shares that are eligible for pledging.

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