New Delhi (Delhi, India), January 16, 2020<\/p>\n
The ICICI Bank Limited has decreased its loan against securities interest rates by 0.10 percent, or 10 basis points with effect from Wednesday, January 01, 2020.<\/p>\n
ICICI Bank Limited has revised its minimum loan against securities interest rate from 9.00 percent to 8.90 percent per annum for the loan against mortgage of securities.<\/p>\n
ICICI Bank Limited’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
– Approved List of Demat Shares<\/p>\n
– Approved List of Mutual Fund Units<\/p>\n
– Fixed Maturity Plans (FMP)<\/p>\n
– Exchange Traded Funds (ETF)<\/p>\n
– Life Insurance Policies<\/p>\n
– Savings Bonds<\/p>\n
– Kisan Vikas Patra (KVP)<\/p>\n
– National Savings Certificate (NSC)<\/p>\n
ICICI Bank Loan Against Mortgage of Securities Interest Rate: 8.90% to 11.00% Per Annum (Reviewed and renewed annually)<\/p>\n
ICICI Bank Loan Against Mortgage of Equity Shares Interest Rate: 8.90% to 11.00% Per Annum (Reviewed and renewed annually)<\/p>\n
ICICI Bank Loan Against Mortgage of Securities Rate of Interest is Floating or Fixed: Fixed Rate of Interest (Interest levied on a daily reducing balance)<\/p>\n
Quantum of ICICI Bank Loan Against Mortgage of Securities: Up to 70% of the Market Value of the Securities<\/p>\n
ICICI Bank Loan Against Mortgage of Securities Minimum Borrowing Limit: Minimum Loan Amount is \u20b950,000<\/p>\n
Demat Shares: \u20b950,000<\/p>\n
Mutual Fund Units: \u20b950,000<\/p>\n
Fixed Maturity Plans (FMP): \u20b950,000<\/p>\n
Exchange Traded Funds (ETF): \u20b950,000<\/p>\n
Life Insurance Policies: \u20b950,000<\/p>\n
Savings Bonds: \u20b950,000<\/p>\n
Kisan Vikas Patras: \u20b950,000<\/p>\n
National Savings Certificates: \u20b950,000<\/p>\n
ICICI Bank Loan Against Mortgage of Securities Maximum Borrowing Limit: Maximum Loan Amount is \u20b95,00,00,000<\/p>\n
Demat Shares: \u20b920,00,000<\/p>\n
Mutual Fund Units: \u20b920,00,000<\/p>\n
Fixed Maturity Plans (FMP): \u20b920,00,000<\/p>\n
Exchange Traded Funds (ETF): \u20b920,00,000<\/p>\n
Life Insurance Policies: \u20b95,00,00,000<\/p>\n
Savings Bonds: \u20b95,00,00,000<\/p>\n
Kisan Vikas Patras: \u20b95,00,00,000<\/p>\n
National Savings Certificates: \u20b95,00,00,000<\/p>\n
ICICI Bank Loan Against Mortgage of Securities Processing Fee and Documentation Charges: 1.00% of the Loan Amount (Minimum \u20b93,500 plus GST)<\/p>\n
Maximum Tenure for the ICICI Bank Loan Against Mortgage of Securities: Maximum Loan Tenure is 60 Months (This is reviewed and renewed annually)<\/p>\n
Renewal Charge for the ICICI Bank Loan Against Mortgage of Securities: \u20b92,500 plus GST on renewal of loan at the end of each year<\/p>\n
ICICI Bank Loan Against Mortgage of Securities Pre Closure Charges or Prepayment Penalty: Nil Charges or Penalty<\/p>\n
Minimum Age Limit for Getting the ICICI Bank Loan Against Mortgage of Securities Sanctioned: Minimum Age 21 Years at the Time of Loan Commencement<\/p>\n
Maximum Age Limit for Getting the ICICI Bank Loan Against Mortgage of Securities Sanctioned: Maximum Age 75 Years at the Time of Loan Maturity<\/p>\n
Charges for ICICI Bank Loan Against Mortgage of Securities Ovedue: Minimum 2% Per Month of the ICICI Bank Loan Against Mortgage of Securities Outstanding Amount<\/p>\n
Security Requirement for the ICICI Bank Loan Against Mortgage of Securities: Pledge of Adequate Value of Securities and Equity Shares in Dematerialised Form from the Approved Scrips List<\/p>\n
Guarantor Requirement for the ICICI Bank Loan Against Mortgage of Securities: No Guarantor is Required<\/p>\n