Markets App
Adani Power settles a tad above
Adani Power settled at Rs 100.05 on BSE, at almost the same level as the initial public offer
Do you have shares in your demat account and yet worrying about meeting your expenses? Explore the potential of your investment and apply for Insta Loan against Securities (Shares) from the comfort of your home!
Login to www.icicidirect.com to check loan eligibility
Navigate to ICICI Bank to select and Pledge Shares
Navigated to NSDL for final
confirmation and loan
disbursement
| Description Of Charges | Insta Loan against Securities (Shares) |
|---|---|
| Loan Processing charge (Non Refundable) | Rs. 500 plus applicable GST |
| Renewal charge (Non Refundable) | Rs. 2500 plus applicable GST on renewal at the end of each year |
| Pre-payment charge | Nil |
| Penal interest on amount drawn in excess of the drawing power | Applicable Rate + 6% p.a. + applicable taxes or other statutory levies, if any |
| Sale of security in the event of default | The brokerage and other charges as per actuals |
| Pledge Creation/Closure charges | As per your Demat charges |
GST applicable as per the prevailing rates will be charged in addition to the charges.
Insta LAS offered by ICICI Bank, is a hassle-free and completely paperless offering to select ICICIdirect customers having equity shares as per approved list in the demat form with ICICI Bank. Customers can log-in to their ICICIdirect account and avail this offer in few simple steps within minutes.
Some of the parameters that ICICI Bank may evaluate while sanctioning this facility are:
It's an Overdraft facility given to the customers by ICICI Bank where customers only need to pay the interest for the number of days the limit is utilized. In case no limit is utilized then no interest is to be serviced. Principal can be repaid anytime as per the liquidity position of the customer.
Interest is to be served monthly basis through cash, cheque, fund transfer from other account or through auto debit facility.
Interest is to be deposited in the OD account at the end of each month once you start utilizing the Loan Amount
Note*: You need to fill up an auto debit mandate form if you wish to go for the auto debit option otherwise you need to pay the interest manually
Interest rate will depend on the rate structure applicable at the time of application login
The facility is provided for one year and gets renewed, basis satisfactory performance of the account, after one year.
It would be renewed automatically. In case customer does not wish to renew the facility, he/she needs to place a request for closure of the account with the nearest ICICI Bank branch before renewal.
Anywhere banking facility with at par cheque book, ATM card and Net banking facility access.
Cheque book \ ATM card will be delivered within 7-10 working days
Since your Insta LAS account is linked to your saving account, you can transfer funds using internet banking and start utilizing the funds immediately
Log-in to www.icicidirect.com > Click on Equity Section > Insta Loan against Securities > Check Eligibility > Proceed >
Redirected to ICICI Internet banking Demat, Insta Loan Against Securities Section > Click on Apply now > Select scrip and enter quantity > Calculate Loan amount > select appropriate options to proceed further > Enter OTP > Read and agree to T&C
Fill details on NSDL platform as directed > Enter OTP received on registered mobile no with DP > Submit and confirm pledge > VOILA... Congratulations… limit is set.
Note*: Please use only Laptop or Desktop and use Google Chrome for Insta LAS Process. Delete Cookies from history before logging in to ICICIdirect site.
Max of 10 scrips only can be pledged at one time
Yes, you can increase the limit subsequently and pledge more shares as per your fund requirement up to a maximum amount of ₹20 lacs only.
One has to fill up a pledge closure form and submit at ICICI Bank Demat desk. Shares will be released if there is no outstanding against those shares. In case shares are not released please contact ICICI Bank LAS team.
You need to fill up an account closure form and submit at ICICI Bank branch.
Yes, you can sell your shares even if they are pledged. The outstanding loan amount will be adjusted from the proceeds of sale of your pledge shares and the remaining balance will be credited to your LAS account.
Process: You need to fill up an “online selling agreement” form by visiting the nearest ICICI Bank branch with demat services. Once the form is submitted, you will receive user id and password for this facility at your registered address. You can then login and can sell your pledged shares online.
The routine revaluation takes place every Friday. However, a revaluation can also take place in the interim period if there is a significant fluctuation in the market.
You can avail of the LAS facility in an offline mode by filling up the loan application form which is subject to credit assessment by the bank.
Yes, but you would have to first convert them into the demat form. You may get your shares dematerialized through a depository account with ICICI Bank. Insta Loan can be given only against shares available in demat form.
Yes, your demat account should be with ICICI Bank only to avail Insta LAS facility.
Yes, you can release your pledged shares. You need to fill up a pledge release form and submit it at nearest ICICI Bank branch demat desk
Yes, after disbursement below are the communication that will be sent to you by ICICI Bank
To check the mobile no updated in demat account: Login to ICICI Internet banking > Investment and insurance > Demat > View personal details > View last 4 digits to verify mobile number
To update the Mobile no in demat account: Login to ICICIdirect account and update your mobile number in General Profile, after 24hrs your number will get update in demat as well
You will get dividend for the Pledged shares as per normal process in your linked ICICI Bank account
Corporate actions are handled as per the example given below.
E.g.: If you have 20 shares of XYZ company and all are pledge. If company declares bonus in suppose 1:1 ratio, then the additional shares received through bonus will also get pledged in your PMR (Pledge Master Report)
For right issue as you have to apply fresh shares so that will not come in corporate action.
Yes, there is a time window to which you can apply i.e. from Monday to Friday between 8 a.m. to 8 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.
If the scrip comes into single category, then you can pledge one single scrip and can complete Insta LAS process but if, the scrip comes into multiple category than you need to select another scrip which can be from single or multiple category.
E.g.: If suppose you have a scrip of XYZ company that comes into multiple category which you wish to pledge then you need to select 75% shares of that scrips and select remaining 25% from other the scrips to complete the successful Insta LAS procedure.
Please note, loan against securities related service is not Exchange traded product and I-Sec is just acting as distributor to solicit these products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism.
