For those looking to leverage their investments without liquidating them, HDFC Bank’s Loan Against Securities serves as a viable option. You can withdraw funds as needed from your loan and only pay interest on the amount you use and for the duration it is utilised.
The primary advantage of NRIs borrowing against securities is the ability to leverage investments for liquidity without having to liquidate them. It also offers flexibility in repayment and the potential for tax benefits under Indian Income Tax laws.
NRIs can initiate the NRI Securities Loan application process online through the bank’s official website or through their NetBanking portal, provided they have a Demat account with the bank. The process involves submitting an application form along with the necessary documents for verification.
Non-Resident Indians (NRIs) are eligible to secure loans against their investments in securities like shares, Mutual Funds, and bonds in India. This is facilitated through an overdraft against their Demat accounts, subject to certain terms and conditions set by the Reserve Bank of India (RBI) and the lending institution.
The ceiling for Loans Against Securities for NRIs is determined by the lender based on the type and value of securities pledged and their market value. You can increase your overdraft value by pledging more shares or decrease it by withdrawing shares.
Interest rates on these loans are influenced by market conditions and the RBI’s policies. They are usually pegged to the bank’s Marginal Cost of funds-based Lending Rate (MCLR) plus an additional spread, which can vary from bank to bank.