What are the charges for Geojit's Loan Against Shares (Offline)?
The charges for our Loan Against Shares are based on the selected scheme:
| Scheme | Regular | Premium | Festive |
|---|---|---|---|
| Margin/Loan to Value | Up to 50% | Up to 50% | Up to 50% |
| Min Loan Amount | Rs. 50,000 | Rs. 10 lakhs | Rs. 5 lakhs |
| Tenor | 1 year | 1 year | 6 months |
| Interest Rate (per annum)* | 12.50% | 11.50% | 10.50% |
| Particulars | Details |
|---|---|
| Processing + Annual Renewal Charges | 1% of loan amount + Service tax payable annually |
| 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% |
| Documentation charges | Rs. 450-650 |
| Security Eligibility | i. Shares must be held in a demat account ii. As approved by Geojit Credits Pvt Ltd |
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 10.50% after clearance of interest dues.
| Day of Payment (between) | Interest Rate |
|---|---|
| 31st and 60th day | 12.50% p.a. |
| 61st and 90th day | 15.50% p.a. |
| After the 90th day | 18.50% p.a |
* As required by the RBI, a Loan to Value (LTV) of 50% must be maintained at all times. In the event that the LTV exceeds 50% for 5 consecutive trading days, the pledged securities will be sold proportionately to bring the LTV below 50%
* Interest is charged on the outstanding amount and only for the time the funds are used.Still need help? Create Ticket
