Categories: Banking

ICICI Bank Limited – Current Loan Against Securities Interest Rates

ICICI Bank Ltd has decreased its loan against securities interest rates by 0.10%, or 10 basis points with effect from Wednesday, January 01, 2020. This interest rate cut will reduce the cost for those people who want to avail loan against mortgage of their securities.

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ICICI Bank Limited – Current Interest Rates for Loan Against Mortgage of Securities

New Delhi (Delhi, India), January 16, 2020

ICICI Bank Limited Cuts Loan Against Securities Interest Rate to 8.90% Per Annum

The ICICI Bank Limited has decreased its loan against securities interest rates by 0.10 percent, or 10 basis points with effect from Wednesday, January 01, 2020.

ICICI Bank Limited has revised its minimum loan against securities interest rate from 9.00 percent to 8.90 percent per annum for the loan against mortgage of securities.

ICICI Bank Limited’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 ICICI Bank Loan Against Securities

– Approved List of Demat Shares

– Approved List of Mutual Fund Units

– Fixed Maturity Plans (FMP)

– Exchange Traded Funds (ETF)

– Life Insurance Policies

– Savings Bonds

– Kisan Vikas Patra (KVP)

– National Savings Certificate (NSC)

ICICI Bank Limited – Current Loan Against Mortgage of Securities Interest Rates

ICICI Bank Loan Against Mortgage of Securities Interest Rate: 8.90% to 11.00% Per Annum (Reviewed and renewed annually)

ICICI Bank Loan Against Mortgage of Equity Shares Interest Rate: 8.90% to 11.00% Per Annum (Reviewed and renewed annually)

ICICI Bank Loan Against Mortgage of Securities Rate of Interest is Floating or Fixed: Fixed Rate of Interest (Interest levied on a daily reducing balance)

Quantum of ICICI Bank Loan Against Mortgage of Securities: Up to 70% of the Market Value of the Securities

ICICI Bank Loan Against Mortgage of Securities Minimum Borrowing Limit: Minimum Loan Amount is ₹50,000

Minimum Loan Amount for the ICICI Bank Loan Against Securities:

Demat Shares: ₹50,000

Mutual Fund Units: ₹50,000

Fixed Maturity Plans (FMP): ₹50,000

Exchange Traded Funds (ETF): ₹50,000

Life Insurance Policies: ₹50,000

Savings Bonds: ₹50,000

Kisan Vikas Patras: ₹50,000

National Savings Certificates: ₹50,000

ICICI Bank Loan Against Mortgage of Securities Maximum Borrowing Limit: Maximum Loan Amount is ₹5,00,00,000

Maximum Loan Amount for the ICICI Bank Loan Against Securities:

Demat Shares: ₹20,00,000

Mutual Fund Units: ₹20,00,000

Fixed Maturity Plans (FMP): ₹20,00,000

Exchange Traded Funds (ETF): ₹20,00,000

Life Insurance Policies: ₹5,00,00,000

Savings Bonds: ₹5,00,00,000

Kisan Vikas Patras: ₹5,00,00,000

National Savings Certificates: ₹5,00,00,000

ICICI Bank Loan Against Mortgage of Securities Processing Fee and Documentation Charges: 1.00% of the Loan Amount (Minimum ₹3,500 plus GST)

Maximum Tenure for the ICICI Bank Loan Against Mortgage of Securities: Maximum Loan Tenure is 60 Months (This is reviewed and renewed annually)

Renewal Charge for the ICICI Bank Loan Against Mortgage of Securities: ₹2,500 plus GST on renewal of loan at the end of each year

ICICI Bank Loan Against Mortgage of Securities Pre Closure Charges or Prepayment Penalty: Nil Charges or Penalty

Minimum Age Limit for Getting the ICICI Bank Loan Against Mortgage of Securities Sanctioned: Minimum Age 21 Years at the Time of Loan Commencement

Maximum Age Limit for Getting the ICICI Bank Loan Against Mortgage of Securities Sanctioned: Maximum Age 75 Years at the Time of Loan Maturity

Charges for ICICI Bank Loan Against Mortgage of Securities Ovedue: Minimum 2% Per Month of the ICICI Bank Loan Against Mortgage of Securities Outstanding Amount

Security Requirement for the ICICI Bank Loan Against Mortgage of Securities: Pledge of Adequate Value of Securities and Equity Shares in Dematerialised Form from the Approved Scrips List

Guarantor Requirement for the ICICI Bank Loan Against Mortgage of Securities: No Guarantor is Required

Current Deposits and Loans Interest Rates of ICICI Bank Limited

ICICI Bank Limited – Deposits and Loans Interest Rates