IDFC FIRST Bank Loan Against Securities
IDFC FIRST Bank offers a loan against securities structured as an overdraft facility against mutual funds and shares, with interest charged only on the utilized amount. The facility carries a floating interest rate of 8.25% to 9.5%, a processing fee of 0%, and is auto-renewed annually as a 12-month facility, with an Annual Maintenance Charge of ₹1,000 on each renewal and a penal charge of 12% p.a. on any overdrawn amount.
Loan amounts range from ₹10,000 to ₹1,00,00,000 (the ₹1,00,00,000 cap applying separately to Equity and Debt Mutual Funds), and only non-Demat mutual funds under a single holding pattern, drawn from the bank's approved list, are eligible, along with unblocked ELSS units. Foreclosure and part-payment charges are NIL. IDFC FIRST Bank was established in 2015 and is headquartered in Mumbai. Minimum CIBIL score, age, salary, employment type, and documentation requirements are not published for this product.
Eligibility
Loan terms
- Overdraft facility against mutual funds and shares
- interest charged only on utilized amount
- Auto-renewed annually (12-month facility)
- Annual Maintenance Charge ₹1000 on each renewal
- Penal charge 12% p.a. on overdrawn amount
Documents
- PAN and Aadhaar
- Income proof (salary slips or ITR)
- Bank statement
- Documents for the pledged asset
Fees & charges
FAQ
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