NIC ASIA Bank providing loan against shares in 7.75% interest; customers can avail maximum upto Rs 15 crore

NIC ASIA Bank has revised interest rate for its loan against share scheme under which the customers will now receive the credit facility in 7.75% interest.

As per the loan scheme, customers can avail the loan amounting between 1 crore to 15 crore which will be valued at 70% of the pledged stocks in its LTP or 120 days average price whichever is lower.

Customers can also avail upto Rs 50 lakh of overdraft service and the loan amount will be issued within 48 working hours after submission of the application, as per the media statement.

The bank currently provides its services to its 22 lakh plus strong customer base from its 326 branches, 466 ATM terminals, 102 extension counters and 64 branchless banking units throughout the nation.