Loan Against Shares
Pledge your shares to secure a loan
All you need to do is, login to ICICI Bank Internet Banking, select the shares that you wish to pledge, confirm the request at NSDL … and the limit is set!
Now you can use shares you own to fund other expenses
Customers can avail a loan by pledging shares lying in their demat accounts. What's more, you can opt for a Loan Against Shares (LAS) from the comfort of your home. Use ICICI Bank's Internet Banking facility to pledge select shares to secure a loan under the Insta LAS facility, and confirm the request at the National Securities Depository Limited (NSDL). Customers between 21 to 75 years of age are eligible for this loan product offering. The applicant should have a telephone (landline) either at the residence or the office. Hindu Undivided Families (HUFs) can apply too.
Loan Against Share Features and Benefits
- Easy and hassle-free loan option
- Avail the loan via ICICI Bank's internet banking facility
- Secure loan by pledging demat shares, mutual fund units, life insurance policies or Government of India (GOI) bonds
- Disbursement of funds is by way of credit limit set in your current account
- Interest payable only on the amount of loan used
- Secure loan amounts of up to Rs 5 crore against different types of securities
- Loans granted only against a list of approved securities, as determined by ICICI Bank
Loan Against Share FAQs
What is Insta LAS?
Insta Loan Against Shares (LAS) is a complete digital and paperless process by which you can pledge your shares online to avail of an instant credit limit in your account. The funds are available for use immediately. At present, only equity shares can be pledged under Insta LAS.
ICICI Bank has launched the Insta LAS facility with the following propositions:
- Loan up to 50% of the value of the pledged shares, with a maximum limit of Rs 20 Lakhs.
- Facility available against the list of shares approved by the Bank
- Loan by way of an overdraft (OD) facility
- Interest is charged on the utilised amount and for the utilised period only.
Are there any specific eligibility criteria to apply for Insta LAS?
This facility is currently available for a set of ‘pre-qualified’ individual customers who have been maintaining a National Securities Depository Limited (NSDL) Demat Account as well as a Savings Account with ICICI Bank, and more importantly, those enjoying a past relationship with ICICI Bank.
Some other criteria include updated Know Your Customer (KYC) for Demat and Savings Accounts, singly held Demat Account, Demat Account with shares of the approved share scrips, etc.
This facility has been launched only for Resident Indian customers. Non-Resident Indians (NRIs) are currently not eligible for this loan.
To avail of this facility, log into Retail Internet Banking> Investment and Insurance> Demat, you will find the ‘Loan Against Securities’ option. Only eligible customers will be able to view this option which has been exclusively made available for pre-qualified customers.
What is the minimum and the maximum credit that a customer can avail of
through Insta LAS?
The minimum amount is Rs.25000/- and the maximum can go up to Rs.20,00,000/-.
Where will my LAS Account be opened through Insta LAS?
The LAS Account will be opened in the same ICICI Bank branch where you have your existing Savings Account. But you can operate the facility from any of our branches under the Anywhere Banking facility.
Do I need to have a Demat Account with ICICI Bank to apply for Insta
Presently, the Insta LAS facility is available for a set of ‘pre-qualified’ individual customers who have been maintaining an NSDL Demat Account as well as a Savings Account with ICICI Bank.
How much time does it take to open a LAS Account through Insta LAS?
Since Insta LAS is a complete digital and paperless process, your LAS Account will be opened and it will be functional within a few minutes. The facility shall be available during:
Monday to Friday: 9:00 a.m. to 6:00 p.m.*
1st and 3rd Saturdays: 9:00 a.m. to 2:00 p.m *
*The facility shall not be available on public holidays and bank holidays for Mumbai, Maharashtra Region, as declared by the Bank on its website.
What are the steps to avail of Insta LAS?
The entire process gets completed in four easy steps in a few minutes.
- Log in to Retail Internet Banking>Investment and Insurance> Demat> Click on the ‘Loan Against Securities’ offer link tab.
- Accept the Terms and Conditions
- Select and confirm the shares that are to be pledged. You will be directed to the NSDL website
- Confirm pledging on the NSDL website via the One-Time Password (OTP) that will be sent to your registered mobile number and the limit will be set in your account. The funds are available for use immediately.
What should I do if the Insta LAS Account opening does not go through
You can call our Customer Care in case you faced an issue while opening the account through Insta LAS.
Will I be able to specify a new communication address for the Insta LAS
The account will have the communication address and contact details which are already registered in your existing linked Savings Account. Post account opening, you may visit the nearest ICICI Bank branch and update the new communication address.
Can I apply online for additional overdraft limit?
The Limit Enhancement feature is currently not available online. You may visit the nearest ICICI Bank branch for enhancing the limit.