Tata Capital Ltd has launched a ‘Loan Against Shares’ facility by which customers can avail of loans upto Rs 5 crores by pledging their Demat shares online.
The loan amount would be based on the value of shares in the portfolio of the customer and the disbursal process would be completed in a single day after getting the required approvals, the financial services arm of the Tata Group said on Thursday.
"Digital LAS is part of our endeavour to enable our customers to meet their financial requirements in a way that is simple and convenient. Further, LAS offering can be customised and customers can have quick access to funds,” Tata Capital Chief Digital Officer Abonty Banerjee said in a statement.
The entire process, including the loan account creation, identity verification, pledging of shares and disbursement, will be done online, the company said.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks