{"id":457,"date":"2018-02-24T09:55:33","date_gmt":"2018-02-24T04:25:33","guid":{"rendered":"http:\/\/www.theteamwork.com\/finance\/?p=457"},"modified":"2018-02-24T20:22:10","modified_gmt":"2018-02-24T14:52:10","slug":"900557-indian-bank-current-loan-against-securities-interest-rates","status":"publish","type":"post","link":"https:\/\/www.theteamwork.com\/finance\/900557-indian-bank-current-loan-against-securities-interest-rates.html","title":{"rendered":"Indian Bank – Current Loan Against Securities Interest Rates"},"content":{"rendered":"

Indian Bank – Current Interest Rates for Loan Against Mortgage of Securities<\/strong><\/p>\n

New Delhi (Delhi, India), February 24, 2018<\/p>\n

Indian Bank Cuts Loan Against Securities Interest Rate to 10.55% Per Annum<\/strong><\/p>\n

The Indian Bank has decreased its loan against securities interest rates by 0.10 percent, or 10 basis points with effect from Monday, February 12, 2018.<\/p>\n

Indian Bank has revised its minimum loan against securities interest rate from 10.65 percent to 10.55 percent per annum (MCLR-1Year + 2.30%) for the loan against mortgage of securities.<\/p>\n

The loan against mortgage of securities interest rate of Indian Bank is benchmarked or linked to its One-Year MCLR (Marginal Cost of Funds based Lending Rate). Indian Bank’s current One-Year MCLR, which is called MCLR-1Y, is 8.25 percent per annum with effect from Monday, February 12, 2018.<\/p>\n

Indian Bank’s current interest rate cut will reduce the cost of funds for those people who want to avail loan against mortgage of their securities.<\/p>\n

Securities Eligible for Indian Bank Loan Against Mortgage of Securities<\/strong><\/p>\n

– National Savings Certificate (NSC)
\n– Kisan Vikas Patra (KVP)
\n– RBI Relief Bonds
\n– LIC Life Insurance Policies
\n– Savings Bonds
\n– NABARD’s Bhavishya Nirman Bonds<\/p>\n

Indian Bank – Current Loan Against Mortgage of Securities Interest Rates<\/strong><\/p>\n

Indian Bank Loan Against Mortgage of Securities Interest Rate:<\/strong> 10.55% Per Annum<\/p>\n

Indian Bank Loan Against Mortgage of Equity Shares Interest Rate:<\/strong> 10.55% Per Annum<\/p>\n

Indian Bank Loan Against Mortgage of Securities Rate of Interest is Floating or Fixed:<\/strong> Floating Rate of Interest<\/p>\n

Quantum of Indian Bank Loan Against Mortgage of Securities:<\/strong> Up to 75% of the Value of the Securities<\/p>\n

Indian Bank Loan Against Mortgage of Securities Minimum Borrowing Limit:<\/strong> Minimum Loan Amount is Rs. 10,000<\/p>\n

Indian Bank Loan Against Mortgage of Securities Maximum Borrowing Limit:<\/strong> Maximum Loan Amount is Rs. 20,00,000<\/p>\n

Indian Bank Loan Against Mortgage of Securities Processing Fee and Documentation Charges:<\/strong> 0.306% of the Loan Amount (Minimum Rs. 306 plus GST)<\/p>\n

Maximum Tenure for the Indian Bank Loan Against Mortgage of Securities:<\/strong> Maximum Loan Tenure is 60 Months (This is reviewed and renewed annually)<\/p>\n

Indian Bank Loan Against Mortgage of Securities Pre Closure Charges or Prepayment Penalty:<\/strong> Nil Charges or Penalty<\/p>\n

Minimum Age Limit for Getting the Indian Bank Loan Against Mortgage of Securities Sanctioned:<\/strong> Minimum Age 18 Years at the Time of Loan Commencement<\/p>\n

Charges for Indian Bank Loan Against Mortgage of Securities Ovedue:<\/strong> Minimum 2% Per Month of the Indian Bank Loan Against Mortgage of Securities Outstanding Amount<\/p>\n

Security Requirement for the Indian Bank Loan Against Mortgage of Securities:<\/strong> Pledge of Adequate Value of Securities and Equity Shares in Dematerialised Form from the Approved Scrip List<\/p>\n

Guarantor Requirement for the Indian Bank Loan Against Mortgage of Securities:<\/strong> No Guarantor is Required<\/p>\n

Indian Bank – Deposits and Loans Interest Rates<\/strong><\/a>
\nCurrent Deposits and Loans Interest Rates of Indian Bank<\/p>\n","protected":false},"excerpt":{"rendered":"

Indian Bank has decreased its loan against securities interest rates by 0.10%, or 10 basis points with effect from Monday, February 12, 2018. This interest rate cut will reduce the cost for those people who want to avail loan against mortgage of their securities.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[47,255,259,260,56],"class_list":["post-457","post","type-post","status-publish","format-standard","hentry","category-banking","tag-current-interest-rates","tag-indian-bank","tag-indian-bank-interest-rates","tag-indian-bank-loan","tag-loan-against-securities-interest-rates"],"_links":{"self":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/posts\/457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/comments?post=457"}],"version-history":[{"count":0,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/posts\/457\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/media?parent=457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/categories?post=457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/tags?post=457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}