a) Loan against shares is provided only to meet customes personal needs.
b) Facility only to individuals
c )Overdraft facility against single and combination of scrips in dematerialized form from the list of approved scrips
d) Facility will be renewed / reviewed after 12 months from the date of sanction
E) Interest charged on actual amount utilized – no EMI or postdated cheques required
f) Shares can be pledged from any Depository Participant across the country
g) Cheque book facility
Who can apply? a) Only resident Indians are eligible to apply b) Applicant should be above 21 years of age at the time of application *Document Required * a)Proof of identity  1)Voters ID card 2) driving license 3) PAN card 4) employees ID card or government department ID card  b)Proof of income  1)Latest salary slip showing all deductions or Form 16 along with recent salary certificate / IT returns of last 2 years  c)Proof of residence  1)Bank account statement or latest electricity bill or latest mobile or telephone bill or latest LIC policy or insurance premium receipt or existing house lease agreement 2)Bank statement or Pass Book Last 6 months 3)Holding Statement Latest statement of holding Guarantor form Optional. (Mandatory in case of jointly held demat holding) Facility Tenure Facility is granted for 12 months. This is reviewed and renewed at annual rests.  Security Pledge of adequate value of shares in dematerialized form from the approved scrip list.  Limit Available This is based on the permissible drawing power against the dematerialized shares available for being pledged. Further drawing will be released only upon pledge of adequate value of dematerialized shares with prescribed margin and confirmation of marking of pledge on NSDL / CDSL screen Processing fee equivalent to 1% of the loan amount (applied for) will be collected along with the application form (taxes as applicable).  Penalty for early closure Nil  Other Conditions Bank reserves the right to reject any application / renewal without assigning reasons thereof. No loan under this scheme is granted for investment in capital market instrument. The overdraft facility shall be disbursed / renewed only after all the required documentation and pledge creation formalities are complete. The margin requirement will be reviewed regularly. In event of any volatile fluctuations in the prices of the scrips, the client shall make good the shortfall, if any, within four days, failing which the security will be enforced. The applicant will undertake to inform the Bank as and when there is a change in address or employment.  The terms and conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank’s discretion
