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Canara Cash (Shares)
PURPOSE
| Instant cash against Shares / Debentures / Bonds / Units! |
- Earn on your investments. And keep them too.
- No need to liquidate your investments even during dire necessities.
- Instead, you can avail Canara Cash loan pledging your investments in Shares, Debentures, Bonds or Units.
ELIGIBILITY
- Individuals - Existing customers with satisfactory dealings.
- New customers - well-introduced and credit worthy can also avail.
HOW MUCH WILL YOU GET
- Shares and Debentures - upto 50 % of market value
- PSU Bonds upto 70% of Market Value
- Units of UTI and CBMF - 50% of NAV or market value whichever is less.
LOAN AMOUNT
Maximum loans upto Rs.20 lacs if demat account is maintained with DPs of our bank
SECURITY
- Security of the shares / debentures / bonds as per the approved list circulated from time to time.
- Securities can be replaced / substituted during the currency of the loan upto 10 times. Nominal charges for substitution of securities.
RATE OF INTEREST
REPAYMENT
- Upto 60 months. EMI also acceptable.
- Selectively OD limit is also considered.
MARGIN
- Uniform margin of 50% shall be applicable on all advances against pledge of approved shares/financing for subscribing to IPO/CDB/LCDB/issue of guarantees for capital market operations including loans/advances against pledge of shares to staff
PROCESSING CHARGES
- 0.1% of the loan amount subject to a minimum of Rs.100/- and maximum of Rs.250/-.
- In case of OD, charges as above are to be collected for every renewal / enhancement.
DOCUMENTS / FORMALITIES
- Stipulated Loan Application with 2 passport sized photographs
- Guarantee / co-obligation where applicable
- Statement of holding of scrips issued by DP
- Latest salary certificate / income proof like ITAO / IT Return
- Financial Statements for the last 2 years (in case of non-salaried individuals)