Get Loan Against Shares
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.
- LAS Limit on Same Day
- 9% p.a. Interest (on utilized amount)
- 100% Digital
- Large list of
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 Funds withdrawn will be credited directly to your bank account.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
How to Avail?
1Download the app or apply via web
2Select type of mutual funds
(viz equity or debt mutual funds)
3Complete one-time KYC registration with PAN & Aadhaar details
(Details can be fetched directly from Digilocker if your Aadhaar is linked with your mobile number)
4Lien mark at RTA's (CAMS / KFintech)
portal through One-Time Password (OTP) authentication
5Verify your bank account online via e-mandate
6Read & sign loan agreement online
Your overdraft facility is ready
Loan Details & Charges
& renewable thereafter
+ taxes as applicable
* Taxes as applicable
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
Eligibility & Documentation
- 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
Frequently Asked Questions
Loan Against Shares is a complete digital and paperless process by which you can pledge your shares with depository participant NSDL in a few clicks to avail an overdraft facility on the same day. Funding can be availed against approved shares.
This facility is currently available for customers maintaining approved* shares depositary with NSDL. (* Approved as per MAFS policy)
To avail this facility, you should
- - Be resident Indian. Non-Resident Indians (NRIs) are currently not eligible for this loan.
- - Be between 18 to 75 years of age
- - Have a valid PAN & Aadhaar Card.
- - Have a valid email id and mobile number.
- - Have a valid bank account with net banking facility.
At Mirae Asset Financial Services the interest rate of the loan against shares is 9% p.a. The interest is calculated on a daily basis on the utilized amount and will be due on 1st working day of the next month. The same will be debited on the 3rd working day of the next month from your Bank Account via NACH mandate. The borrower needs to service the same on a monthly basis.
Please Note: Interest payments cannot be made using the Pay Now function and will be adjusted via NACH mandate only.
- - Download app or Sign Up & register yourself
- - Complete one-time KYC registration with PAN & Aadhar details Details can be fetched directly from Digilocker if your Aadhar is linked with your mobile number
- - Pledge at DP's (NSDL) portal through One-Time Password (OTP) authentication
- - Verify your bank account online via e-mandate
- - Read & sign loan agreement online with OTP authentication
- - Your Loan Against Shares limit is ready
The minimum amount is Rs 10,000/- and the maximum can go up to Rs 1 crore.
LTV, from 30% to 45% of the value of shares depending upon the type of shares.
Securities can be depledged online partially or completely.
1) For partial security 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 securities and number of units 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 securities will be released within 24 working hours.
2) Complete security withdrawal can be only done during loan foreclosure.
For complete security depledging follow below steps
- - Login to mobile app or web.
- - Go to transaction tab and click foreclosure.
- - Select loan account to foreclose.
- - Verify via OTP authentication.
- - You will receive closure simulation letter on registered email.
- - Check ‘Total amount receivable’ field & clear it the same day before 12.00 am (Night).
- - Write to email@example.com once total amount receivable is paid. If total amount receivable is zero, no further action is needed.
Your request will be reviewed and processed accordingly within 48 working hours and sent to RTA for depledging. RTA will release the securities within 5 working days. If total receivable amount is not cleared the same day your foreclosure request will be closed, and loan will remain active.
Please Note: Foreclosure requests will not be accepted between the last working day of the month to 3rd working day of the next month due to monthly interest debit activity.
Since Digital Loan Against Shares is a complete digital and paperless process your LAS limit will be approved and functional on the same day. You can raise funds withdrawal requests or make repayments 24*7 on all days of the week. Any withdrawal request raised till 5pm will be processed on the same day within 4 working hours. Request raised after 5pm will be processed the next working day.
To view, the list of approved shares, click here.
- Credit limit is at the sole discretion of Mirae Asset Financial Services (India) Pvt Ltd.
- 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.
- Please note :- Pledge will be approved only on business days.