Aman Khanna
Shares are great investment option for you if you understand the market and know which securities to invest in. They provide you high liquidity and the ability to generate funds at any time. One way of availing funds using shares is to use them as collateral and avail a loan in exchange.
This is an excellent option that can help you raise finance for short-term needs. You can get access to funds in an instant without giving up ownership of your shares.
Here are some purposes for which you can avail a loan against shares.
- To Meet Working Capital Needs
As a business owner, you may come across a need for working capital from time to time. Assume that you are expanding to a bigger office space or are seeking funds to pay suppliers while awaiting payments from clients. In such a situation, you can access a high loan amount to give your working capital a boost.
When you take a Loan Against Shares from Bajaj Finserv, you can access up to Rs.10 crore to meet these needs. Make use of the Flexi Loan facility to access funds from the sanctioned amount as and when you need them and pay interest on the sum that you use. You can make repayment more convenient by choosing to pay interest-only EMIs and repaying the principal at the end of the tenor too.
- To Pay for a Medical Emergency
Medical emergencies can be expensive to cater to, but you can tackle them without worrying about the cost with a loan against shares. Apart from the high loan amount, you can benefit from instant approval and timely disbursal in 72 hours to pay for treatment in a timely manner. You can use funds from this loan to pay for surgeries, pre- and post-operative care, consultancy fees, hospital room rent and other associated costs.
- To pay for Unexpected Expenses
You may come face to face with a situation where you need a high amount of funds to undo damage. For example, you may have to undertake urgent home renovation to treat the problem of water seepage and water logging. At work, you may need funds urgently to deal with the aftermath of an electrical fire and get operations back on track. In such a situation, you can apply for this loan online and request funds to restore normalcy to your personal or professional life.
- To Finance Other Personal Needs
You can also use this loan to finance a host of other personal needs that require funds including a holiday abroad or a wedding. If you are juggling your personal finances and are falling short of funds, this loan serves as the perfect solution in the interim. You can also use it to pay for your child’s education or pay for a part of an asset such as a car.
When you choose Bajaj Finserv’s Loan Against Shares, you can enjoy the following value-added services.
1. Online Account Management: With this feature, you can manage your loan online and view the interest statement, principle statement, balance, etc., at your convenience. You don’t have to visit the branch or contact the lender.
2. Access to a Relationship Manager: You may have various questions about your loan. In such cases, you can speak to the relationship manager that this loan comes with and seek answers to all your queries.
3. EMI Network Card: This loan comes with an EMI Card with a pre-approved loan amount. You can use it to shop affordably online and offline for a range of products across the country.
These are some reasons why you can avail a loan against shares. But, before you borrow this loan, ensure that it matches your needs perfectly. This will allow you to use the loan appropriately and will ensure that repayment is hassle-free.
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