Reliable Finance offers attractive loan against share

ShareSansar, October 21:

Reliable Finance Limited has come up with an attractive plan to woo investors by offering up to 70 percent marginal lending within three days against share certificates at an impressive interest rate.

“We provide marginal lending up to 70 percent against shares of A and B class commercial banks, hydropower and life insurance companies on the basis of 180 days of average price of the share,” Govinda Prasad Dhakal of the finance company told ShareSansar.com

He also informed that the interest rate for the loan utilization up to Rs 5 lakh has been fixed at 14 percent and for the loan more than Rs 5 lakh at just 13 percent.

“However, 1 percent service charge applies for all categories of loan against share,” Dhakal further said. “TDS is deducted for a loan amount worth more than Rs 10 lakh.”

Additional cost includes Rs 1,000 documentation charge and Rs 1,000 account in the finance company, if the loan seeker does not hold an account there.