Need funds for short-term expenses?

Get Loan Against Shares

online the same day

In need of funds for short-term expenses? Avail Loan Against Shares online and get an overdraft limit the same day. Continue to retain your investments in shares and manage your short-term expenses at the same time. Download the Mirae Asset Financial Services app to apply in a fast, easy & hassle-free manner. Currently available for Demat accounts with NSDL only.

What is Loan Against Shares?

Loan Against Shares is a secured loan that allows you to raise instant liquidity against your shares as collateral. You will continue to retain ownership of the shares and all the benefits with them.

The loan is made available as an overdraft limit, where you can withdraw or make payments anytime as per your requirement. Funds withdrawn will be credited directly to your bank account. Interest will be levied only on the utilized amount and for the duration, it is utilized. If you have surplus funds, you can also make prepayment towards the utilized amount without any prepayment charges.

Currently, you can pledge shares held in a Demat account with NSDL only.

Features & Benefits of LAS

Get LAS Limit the same day
No need to wait for days. Complete simple steps to get an overdraft limit against shares the same day using the MAFS mobile app. Your application will be processed instantly to provide you with a limit the same day.
Zero Prepayment/ Foreclosure Charges
No lock-in, no prepayment & no foreclosure charges if you decide to repay your outstanding's early.
Instant Disbursal
Get access to funds whenever you need them. Get the required amount credited directly to your provided bank account on the same day.
Large List of Approved Securities
Select from a list of approved shares held in the Demat account with NSDL only.
100% Digital Process
No need of visiting branches or reaching out to relationship managers. With our mobile app, you can complete your entire journey online from your mobile device without any need of submitting physical documents.
Retain Ownership
Allow your investments in shares to continue to generate wealth. You continue to retain ownership of your shares and reap all the benefits that are associated with them.
Attractive Interest Rate
Avail loan at an attractive Interest rate starting at 9%^ p.a with a Flexi payment option. Unlike term loans, interest on LAS is levied only on the amount you use and for the number of days you utilize.

^The effective interest rate will be revised to 9.5% p.a. on both new & existing loan accounts from 1st March 2024.

Loan Tenure
The overdraft limit provided against your shares has a tenure of 12 months and is renewed thereafter.
Higher Loan Value
Avail LAS limit up to Rs 1Cr against approved shares.
Easy Repayment
Manage your funds with more flexibility. You are required to service the interest amount accrued as per utilization on a monthly basis.

How to Avail?

Get Loan Against Shares limit with these simple steps. We recommend keeping your PAN, Aadhaar Card, Bank Account & depository participant (NSDL only) details handy while applying, for a smoother experience.
  • 1
    Download the app or apply via web
  • 2
    Apply for Loan Against Shares
  • 3
    Complete one-time KYC registration with PAN & Aadhaar details
    (Details can be fetched directly from Digilocker if your Aadhaar is linked with your mobile number)
  • 4
    Pledge shares using NSDL DP ID. (You will be notified by your DP once pledge is approved)
    Please Note:- Pledge will work during working days only
  • 5
    Verify your bank account online via e-mandate
  • 6
    Read & sign loan agreement online
  • Your overdraft facility is ready

Loan Details & Charges

Our aim is to cater to your financial needs with utmost transparency and no hidden charges.
Maximum Loan Amount
Loan Against
Equity Shares

₹1,00,00,000
(upto 45% LTV)
Minimum Loan Amount
₹10,000
Loan Tenure
12 Months
& renewable thereafter
Fixed Processing Fees
₹999
+ taxes as applicable
Penal Interest Rate
ROI + 4.00% P.A. for the default period
Minimum Withdrawal Amount
₹1,000. However, there is no limit on the number of withdrawals.
Interest Rate
9%^ p.a. (on utilized amount) Interest will be due on 1st working day of every month and the same will be debited on 3rd working day of every month from your Bank Account via NACH mandate.

^The effective interest rate will be revised to 9.5% p.a. on both new & existing loan accounts from 1st March 2024.

Stamp Duty
₹500
Foreclosure Charges
ZERO Foreclosure charges
Bounce Charges
₹500 + taxes as applicable
Annual Renewal Charges
₹999*
Bank Mandate Swap Charges
₹500*
Top Up/Security withdrawal Charges
₹500*
Security Invocation Charges
₹2,000*
(in case of default)
Collection Charges
₹5,000*
(in case of default)
Legal Charges
₹5,000*
(in case of default)
Annual Percentage Rate (APR)
9%^ to 24% per annum
(including fees)
Minimum Period
12 Months
Maximum Period
12 Months

Attention: Pledging Charges Information - Please be aware that Customers’ Depository Participant (DP) may apply pledging charges. We recommend checking with your DP to ascertain if any charges are applicable.

* Taxes as applicable

^The effective interest rate will be revised to 9.5% p.a. on both new & existing loan accounts from 1st March 2024.

Let's understand with an example:

If a customer takes a loan of ₹50,000 for a period of 12 months, at an annual interest rate of 9%^ APR, then the customer will pay monthly interest for 12 months of ₹375 per month. The total loan payment over 12 months will be ₹54,500* (including principal and interest). Total Cost of Loan = Interest Amount + Processing Fees + Stamp Duty = ₹4500 + ₹999 + ₹500 = ₹5,999

^The effective interest rate will be revised to 9.5% p.a. on both new & existing loan accounts from 1st March 2024.

Things You Should Know

Everything you need to know before and after availing an overdraft loan against shares.

Yes, you can partially depledge shares digitally without visiting a branch or any physical paperwork. If you want to replace one share with another, you will have to complete depledge of the shares via partial security withdrawal facility & add another share using top-up facility.

The revised eligible limit will be calculated on the basis of revised collateral value of underlying shares. Eligible limit = Collateral value x LTV%.

For partial shares depledging follow below steps

  • - Login to mobile app or web.
  • - Go to transaction tab and click security withdrawal.
  • - Select loan account & application number under which securities are pledged.
  • - Select the shares and number of shares to depledge.
  • - Click calculate to check revised collateral value, revised available limit & revised total limit.
  • - Verify via OTP authentication. Your request is submitted.

Your request will be reviewed and processed accordingly. The shares will be released within 24 working hours.

Note: Security withdrawal charges of Rs 500/- + Taxes will be applicable in case of partial security withdrawal. There are no charges for the foreclosure of loan account.

An interest rate of 9%^ p.a. is charged only on the utilized amount and for the number of days you utilize the amount. The interest is calculated on the utilized amount daily at the end of day, Interest = (utilized amount x interest rate)/ 365. The interest will be accrued till the end of month and will be due on 1st working day of every month. The same will be debited on the 3rd working day of next month from your registered Bank Account via NACH mandate. You will be notified on your registered email ID to maintain sufficient balance.

Note: Payments made via Pay Now facility will not be adjusted against the interest amount.

^Important Update: The effective interest rate will be revised to 9.5% p.a. on both new & existing loan accounts from 1st March 2024. For every ₹1 lakh of utilization, there will be a modest increase in interest by ₹42 per month.

Example: Vijay availed a loan against shares by pledging shares of value Rs.10 lakhs and got an eligible limit of Rs.4.5 lakhs. He made a withdrawal of Rs.1 lakh on 5th Jan 23 and Rs.1 lakh on 10th Jan 23. Vijay repaid Rs.1 lakh on 20th Jan 23 and Rs.1 lakh on 25th Jan 23. Vijay will receive an intimation on 1st Feb 23 to maintain sufficient balance to pay interest of [(9%/365)x{(5x1,00,000)+(10x2,00,000)+(5x1,00,000)}] = Rs.739.73 which will be auto debited on the 3rd Feb 23.

At present, it is not possible to digitally lien mark or pledge Shares held with CDSL through Mirae Asset Financial Services.

An eMandate serves as a digital payment solution that enables Indian businesses to easily collect recurring payments without the need for human intervention. Mandate limit refers to the maximum permissible amount that can be deducted from the account holder's bank account through an automated payment system. However deductions on your account will only be as per actuals.

Loan against shares is provided as an overdraft facility. Hence there is no fixed repayment schedule or EMI for the principal amount. You can make principal repayments anytime during the loan tenure as per your convenience. You will be charged only interest on a monthly basis which will be auto debited from the registered bank account. Interest is calculated based on the utilized amount and for a number of days the amount is utilized.

If your loan account creation fails after pledging the shares, your shares will be absolutely safe and secure since the pledging happens at NSDL. You can reach customer support at 1800 2099 180 (Monday to Friday, 9am to 6pm) or write at mcare@miraeassetfin.com. The support team will either clear the issue faced or send your shares for de-pledging to NSDL.

On maturity, you have an option of renewing your loan account for further 12 months. If renewed, any principal amount utilized is carried forward to the next year. If you wish not to renew your loan account, you will be requested to repay the outstanding amount before maturity date. The utilized amount if any on maturity will become overdue and the same needs to be repaid within 7 days.

If the money is debited from the bank account and is not reflected in the loan account, the transaction may be pending at your bank. It will reflect in the loan account within 72 working hours or the amount will be refunded back to the bank account. If the transaction remains pending beyond this timeframe, please contact your bank, as the transaction is still in process on their end.

Eligibility & Documentation

This is an end-to-end digital process. Hence, no physical documents are required to be submitted. You can apply for limit, withdraw funds & repay utilised amount online directly via mobile app.
  • You should be a resident Indian individual
  • You should have a valid PAN & Aadhaar Card
  • You should have demat account with NSDL
  • You should hold approved shares as per MAFS policy
  • You should be between 18 to 75 years of age
  • You should have a valid email ID & mobile number
  • You should have a valid bank account number and internet banking access

To view, the list of approved shares, click here.

Disclaimers

  • Please be aware that Customers’ Depository Participant (DP) may apply pledging charges. We recommend checking with your DP to ascertain if any charges are applicable.
  • Pledge will be approved only on business days.
  • The Loan Against Shares is for personal use. The loan amount cannot be used for speculative activities, capital market-related purposes, or anti-social purposes.
  • Credit limit is at the sole discretion of Mirae Asset Financial Services (India) Pvt Ltd.
  • In case of repayment, payment is considered successful upon reflection or settlement within Mirae Asset Financial Services' system; additionally, interest will accrue (if applicable) until the settlement date.
  • ^Important Update: The effective interest rate will be revised to 9.5% p.a. on both new & existing loan accounts from 1st March 2024. For every ₹1 lakh of utilization, there will be a modest increase in interest by ₹42 per month.