‘Loan against Securities’ is an unique digital solution launched by the YES Bank under its loan in seconds platform. “Loan against Securities” will enable customers to avail loan facility against the securities that they hold. The customers are required only to pledge the securities and not selling them.
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YES Bank will open a current account in the name of the customer in order to conduct smooth transactions. The securities eligible under the “Loan against Securities” facility are: Shares, Equity & Debt Mutual Funds, Kisan Vikas Patra (KVP), Fixed Maturity Plans (FMP), Insurance policies issued by LIC and select Private Insurance Companies, Non-Convertible Debentures (NCD), Tax free Bonds (RBI, NABARAD, NHAI, PFC, IRFCL, HUDCO, IIFCL, NHB, REC, and IREDA).
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