Abu Dhabi Commercial Bank has decreased its loan against securities interest rates by 0.20%, or 20 basis points with effect from February 07, 2018. This interest rate cut will reduce the cost for those people who want to avail loan against mortgage of their securities.
Abu Dhabi Commercial Bank – Current Interest Rates for Loan Against Mortgage of Securities
New Delhi (Delhi, India), February 18, 2018
Abu Dhabi Commercial Bank Cuts Loan Against Securities Interest Rate to 10.75% Per Annum
The Abu Dhabi Commercial Bank has decreased its loan against securities interest rates by 0.20 percent, or 20 basis points with effect from Wednesday, February 07, 2018.
Abu Dhabi Commercial Bank has revised its minimum loan against securities interest rate from 10.95 percent to 10.75 percent per annum (MCLR-1Year + 2.30%) for the loan against mortgage of securities.
The loan against mortgage of securities interest rate of Abu Dhabi Commercial Bank is benchmarked or linked to its One-Year MCLR (Marginal Cost of Funds based Lending Rate). Abu Dhabi Commercial Bank’s current One-Year MCLR, which is called MCLR-1Y, is 8.45 percent per annum with effect from Wednesday, February 07, 2018.
Abu Dhabi Commercial Bank’s current interest rate cut will reduce the cost of funds for those people who want to avail loan against mortgage of their securities.
Securities Eligible for Abu Dhabi Commercial Bank Loan Against Securities
– Approved List of Demat Shares
– Approved List of Mutual Fund Units
– Approved List of Non Convertible Debentures
– Fixed Maturity Plans (FMP)
– Exchange Traded Funds (ETF)
– Life Insurance Policies
– Savings Bonds
– Kisan Vikas Patra (KVP)
– National Savings Certificate (NSC)
– Gold Deposit Certificates (GDC)
– NABARD’s Bhavishya Nirman Bonds
Abu Dhabi Commercial Bank – Current Loan Against Mortgage of Securities Interest Rates
Abu Dhabi Commercial Bank Loan Against Mortgage of Securities Interest Rate: 10.75% to 11.25% Per Annum
Abu Dhabi Commercial Bank Loan Against Mortgage of Equity Shares Interest Rate: 10.75% to 11.25% Per Annum
Abu Dhabi Commercial Bank Loan Against Mortgage of Securities Rate of Interest is Floating or Fixed: Fixed Rate of Interest
Quantum of Abu Dhabi Commercial Bank Loan Against Mortgage of Securities: Up to 75% of the Value of the Securities
Abu Dhabi Commercial Bank Loan Against Mortgage of Securities Minimum Borrowing Limit: Minimum Loan Amount is Rs. 50,000
Abu Dhabi Commercial Bank Loan Against Mortgage of Securities Maximum Borrowing Limit: Maximum Loan Amount is Rs. 20,00,000
Abu Dhabi Commercial Bank Loan Against Mortgage of Securities Processing Fee and Documentation Charges: 0.50% of the Loan Amount (Minimum Rs. 500 plus applicable Service Tax and Surcharge)
Maximum Tenure for the Abu Dhabi Commercial Bank Loan Against Mortgage of Securities: Maximum Loan Tenure is 60 Months (This is reviewed and renewed annually)
Abu Dhabi Commercial Bank Loan Against Mortgage of Securities Pre Closure Charges or Prepayment Penalty: Nil Charges or Penalty
Minimum Age Limit for Getting the Abu Dhabi Commercial Bank Loan Against Mortgage of Securities Sanctioned: Minimum Age 21 Years at the Time of Loan Commencement
Charges for Abu Dhabi Commercial Bank Loan Against Mortgage of Securities Ovedue: Minimum 2% Per Month of the Abu Dhabi Commercial Bank Loan Against Mortgage of Securities Outstanding Amount
Security Requirement for the Abu Dhabi Commercial Bank Loan Against Mortgage of Securities: Pledge of Adequate Value of Securities and Equity Shares in Dematerialised Form from the Approved Scrip List
Guarantor Requirement for the Abu Dhabi Commercial Bank Loan Against Mortgage of Securities: No Guarantor is Required
Abu Dhabi Commercial Bank – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Abu Dhabi Commercial Bank