New Delhi (Delhi, India), July 26, 2020<\/p>\n
The HDFC Bank Limited has decreased its loan against securities interest rates by 0.20 percent, or 20 basis points with effect from Tuesday, July 07, 2020.<\/p>\n
HDFC Bank Limited has revised its minimum loan against securities interest rate from 9.60 percent to 9.40 percent per annum (MCLR-1Year + 1.95%) for the loan against mortgage of securities.<\/p>\n
The loan against securities interest rate of HDFC Bank is benchmarked or linked to its One-Year MCLR (Marginal Cost of Funds based Lending Rate). HDFC Bank’s current One-Year MCLR, which is called MCLR-1Y, is 7.45 percent per annum with effect from Tuesday, July 07, 2020.<\/p>\n
HDFC 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
– Non-Convertible Debentures (NCD)<\/p>\n
– Gold Deposit Certificates (GDC)<\/p>\n
HDFC Bank Loan Against Mortgage of Securities Interest Rate:<\/strong> 9.40% to 11.25% Per Annum (Interest levied on a daily reducing balance)<\/p>\n HDFC Bank Loan Against Mortgage of Equity Shares Interest Rate:<\/strong> 8.70% to 11.00% Per Annum (Interest levied on a daily reducing balance)<\/p>\n HDFC Bank Loan Against Mortgage of Securities Rate of Interest is Floating or Fixed:<\/strong> Fixed Rate of Interest (Reviewed and renewed annually)<\/p>\n Quantum of HDFC Bank Loan Against Mortgage of Securities:<\/strong> Up to 80% of the Market Value of the Securities<\/p>\n HDFC Bank Loan Against Mortgage of Securities Minimum Borrowing Limit:<\/strong> Minimum Loan Amount is \u20b9100,000<\/p>\n HDFC Bank Loan Against Mortgage of Securities Maximum Borrowing Limit:<\/strong> Maximum Loan Amount is \u20b92,000,000<\/p>\n Maximum Loan Amount for the HDFC Bank Loan Against Securities:<\/strong><\/p>\n Demat Shares: Up to 50% of the Current Market Value<\/p>\n Mutual Fund Units (Equity): Up to 50% of the Market Value or Current NAV (Net Asset Value)<\/p>\n Mutual Fund Units (Debt): Up to 80% of the Market Value or Current NAV (Net Asset Value)<\/p>\n Fixed Maturity Plans (FMP): Up to 80% of the Market Value or Current NAV (Net Asset Value)<\/p>\n Exchange Traded Funds (ETF): Up to 50% of the Market Value or Current NAV (Net Asset Value)<\/p>\n Life Insurance Policies: Up to 80% of the Value<\/p>\n NABARD’s Bhavishya Nirman Bonds: Up to 65% of the Present Value<\/p>\n Savings Bonds: Up to 65% of the Present Value<\/p>\n Kisan Vikas Patras: Up to 70% of the Present Value<\/p>\n National Savings Certificates: Up to 70% of the Present Value<\/p>\n Non-Convertible Debentures (NCD): Up to 70% of the Face Value<\/p>\n Gold Deposit Certificates (GDC): Up to 70% of the Face Value<\/p>\n HDFC Bank Loan Against Mortgage of Securities Processing Fee and Documentation Charges:<\/strong> 1.00% of the Loan Amount or Sanctioned Credit Limit (Minimum \u20b93,500 plus GST)<\/p>\n Maximum Tenure for the HDFC Bank Loan Against Mortgage of Securities:<\/strong> Maximum Loan Tenure is 60 Months (This is reviewed and renewed annually)<\/p>\n Yearly Renewal Charge for the HDFC Bank Loan Against Mortgage of Securities:<\/strong> 0.50% of the Loan Amount or Sanctioned Credit Limit (Minimum \u20b91,000 Maximum \u20b95,000 plus GST)<\/p>\n HDFC 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 HDFC Bank Loan Against Mortgage of Securities Sanctioned:<\/strong> Minimum Age 21 Years at the Time of Loan Commencement<\/p>\n Charges for HDFC Bank Loan Against Mortgage of Securities Ovedue:<\/strong> Minimum 2% Per Month of the HDFC Bank Loan Against Mortgage of Securities Outstanding Amount<\/p>\n Security Requirement for the HDFC Bank Loan Against Mortgage of Securities:<\/strong> Pledge of Adequate Value of Securities and Equity Shares in Dematerialised Form from the Approved Scrips List<\/p>\n