Geojit Financial Services: Geojit Credits, the NBFC arm of leading brokerage firm Geojit Financial Services, on Wednesday launched a digital platform for offering loans against shares or LAS. Thus Geojit National Securities Depository Ltd. (NSDL) has become the first company to offer digitally LAS to any demat account holder registered with it.
You can apply in less than a minute
Launching the service in Kochi, NSDL MD Padmaja Chandru said that this digital LAS facility is designed to provide investors with instant liquidity, to fund their investments or meet their immediate personal expenses. meet.
Using the LAS digital facility, an NSDL demat account holder can send a pledge request to his DP in less than a minute, he added.
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All documentation will be online
CJ George, Founder and MD, Geojit Group said that you will be able to choose the scheme of your choice and do all the documentation online. Once the loan application is digitally signed and approved, the amount will be credited to the client’s bank account and interest will be charged for the amount used, he added.
Multiple repayment options, attractive interest rates
Geojit said the platform offers maximum funding with flexible repayment options with Geojit Credits. Also offering attractive interest rate under select schemes.
George said that the LAS market is estimated to be Rs 55,300 crore by October 2021 and is growing at 23-35 per cent annually, but the complicated paperwork leads to delays in the LAS scheme and clients are unable to avail loans on time. fail.
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Who can take loan
Clients who wish to apply for a loan on the LAS digital platform by pledging shares, must have free holding of eligible shares in their demat accounts. They should also have a satisfactory CIBIL score. He said, all those who have demat account with NSDL can apply for loan under this facility. It doesn’t matter who the broker is. He said that NSDL and Geojit Technologies have developed this platform.
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