AuthorAlisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health. Archives
March 2020
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Whether they come clean about it or not, the biggest concern of every investor irrespective of their kind of investment portfolio, is what would they do when they come across an urgent cash need? Will they have to liquidate their investment, or they will be able to manage without taking the extreme step? Like it or not, there’s always an uncertainty regarding investments that continues to meddle with the investor’s subconscious mind. In the same context, the banking and finance sector has a loan against securities which is a fitting solution for people who fail to make apt decisions owing to their dilemma. The credit scheme allows prospective subscribers meet their urgent cash needs without dissolving their investment. Having said that, taking a loan against security isn’t that easy to avail, but it’s definitely not impossible. You can easily obtain a loan against your securities by following the guidelines. Secure a fitting collateral
The first tip is to secure a fitting collateral i.e a collateral whose current market value is at least twice the amount you’re planning to borrow. Bank or NBFC, they will allow you to borrow only up to 50% of the collateral value. Keep your spirit and your CIBIL score high A good CIBIL score can go long miles in helping you get your loan application approved, especially when it comes to loan against shares. So, maintain a good credit score and leverage the benefit. Keep your loan to value ratio low Loan to value ratio is how much you are eligible to borrow and how much you actually borrow. If you ask for less in comparison to your eligibility, your loan application has higher chances of approval. Draft a repayment plan in advance Lastly, having a well-planned repayment strategy always helps in convincing the lender, and sending one with your loan application can ensure maximum chances of approval. Read More :- Easy Way to Avail a Loan Against Securities at Lower Interest Rates
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