What are the charges for Geojit's Digital Loan Against Shares?
The charges for our Digital Loan Against Shares are based on the selected scheme:
| Scheme | Regular | Premium | Festive |
|---|---|---|---|
| Margin/Loan to Value | 50% | 50% | 50% |
| Min Loan Amount | Rs. 10,000 | Rs. 20 lakhs | Rs. 5 lakhs |
| Tenor | 1 year | 1 year | 6 months |
| Interest Rate (per annum)* | 9.99% | 9.49% | 9.49% |
* Accounts other than Geojit demat accounts will be charged an additional 0.50% on interest rates.
| Particulars | Details |
|---|---|
| Processing Fees | 0.50% + GST |
| Interest Payment | i. First working day of every month ii. Festive Scheme- Payment to be made on or before every 30 days |
| Margin Requirements | Initial Margin- 60% Maintenance Margin- 50% |
| Pledge Creation Charges | Rs. 250 or 0.02% of the value of each pledge transaction plus GST, whichever is higher. |
| Security Eligibility | i. Select Group 1 shares, as approved by Geojit Credits Pvt Ltd ii. Shares must be held in an NDSL demat account iii. The shares must be available as free balance in your demat account iv. You must have a satisfactory CIBIL score |
Festive Scheme
- Interest rates are subject to prompt payment of monthly interest on or before the 30th of every month.
- In case of default, the following rates will be applicable from the loan start date and will be revised back to 9.49% after clearance of interest dues.
Day of Payment (between) Interest Rate 31st - 60th day 12.00% p.a. 61st - 90th day 14.00% p.a. After the 90th day 16.00% p.a.
* Digital Loan Against Shares can be availed online provided you have a single holder NSDL demat account. If not, you can submit the required forms at a Geojit branch to make a physical LAS application.* As required by RBI, a Loan to Value (LTV) of 50% must be maintained at all times. In the event that the LTF exceeds 50% for 5 consecutive trading days, the pledged securities will be sold proportionately to bring the LTV below 50%
* Interest is charges on the outstanding amount and only for the time the funds are used.
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