ICICI Bank - Loan Against Securities
(Which Way to Pay India - 28/5/2013)
Loans Against Securities offer you instant access to money when you need it most. You do not have to sell your assets, all you have to do is pledge your securities in favour of ICICI Bank. ICICI will then grant you an overdraft facility up to a value determined on the basis of the securities pledged by you.
A current account will be opened in your name and you will be free to withdraw money any time you wish. Be aware that interest will be charged with you withdraw any funds and for the time span utilised. Examples of the securities that you may use to utilise this facility include Demat Shares, Mutual Funds Units, Insurance Poices and Savings Bonds.
As already mentioned you need to open an ICICI Bank Overdraft Current Account so that you credit limit can be set. Be sure you are aware of the terms and conditions, if you are not able to make the repayments then you could risk losing your securities.
ICICI Bank is ranked 4 out of 5. Based on 1 review.

4 Star Rating
1 Star: 1 Star RatingPoor
In relation to other products, has performed badly and has little or no worthwhile benefits.
2 Stars: 2 Star RatingBelow Average
Has some features of value, but in comparison to others performs below standard.
3 Stars: 3 Star RatingAverage
A fair product with regards to its competitors - has no outstanding features or benefits.
4 Stars: 4 Star RatingGood
In comparison to other products performs above standard, has beneficial features.
5 Stars: 5 Star RatingExcellent
Performs well above standard in comparison, has exceptional features and benefits.

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