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FAQs |
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If you have any queries that are not answered here, please call us or
write to us.
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How much overdraft can I get ?
You can get an overdraft of up to 40% of the market value of your Demat shares, in amounts ranging from Rs. 50,000/- to Rs. 20,00,000/-.
See approved scrips.
You can also avail of the facility by pledging select mutual fund units.
See approved Mutual Fund Schemes.
* The contribution of single scrip should not exceed 65% of the total portfolio value at any point of time during the tenure of the account.Loan is sanctioned as per applicable internal policy of the Bank.
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I only have one single scrip. Can I get limits against just one scrip ?
Yes. You can avail of limits by pledging any of the approved single scrips
under our "Single
Scrip Scheme" (The drawing power on these single scrips will range from
35% to 40%).
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Is my overdraft limit fixed?
Your portfolio is valued periodically, and your overdraft limit varies, depending on the market rate of the shares you have pledged. You may at any time choose to increase your overdraft limit by pledging more shares, or decrease it by withdrawing them.
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How frequently do you revalue my portfolio?
We revalue your portfolio on a Weekly basis. Additionally, in the event of a sharp fall in the market prices, we conduct an interim revaluation.
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Can the bank inform me about my latest limit by e-mail ?
The bank has an Insta Alert facility whereby we intimate the latest limit as and when it changes due to revaluation of prices or lodgment / withdrawal of shares ,on your mobile or email . This facility is the first of its kind and helps you manage your Overdraft Account in a better manner. This is available only for customers who have registered for Insta Alert Facilty.
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I do not have a Demat Account with HDFC Bank. Can I still avail of your facility ?
Yes. You can pledge shares held with any Depository Participant in NSDL or CDSL
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Whose securities can I pledge ?
You can pledge your own securities, or those of your blood relative (parents,
spouse, children, blood siblings only) above 18 years of age. If you are pledging
securities that belong to anyone other than yourself, the securityholder must
be a signatory to the overdraft agreement.
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In whose name would the shares be held ?
Your shares remain in your own name while you reap the benefits of your portfolio. Which means that you can continue to enjoy all your shareholder benefits such as rights, dividends and bonuses.
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Can I avail overdraft against LIC Policies ?
Yes. The Bank provides Overdraft facility against select LIC Policies & insurance policies issued by select private insurance companies. You can avail upto 80% of the Surrender Value of your Life Insurance Policy. Minimum Loan Amount is Rs. 50,000/- and Maximum Loan Amount is Rs. 1 Crore.
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How do I receive the overdraft amount ?
We will open a Current Account in your name into which we will create an overdraft limit. Your overdraft limit will depend on the quantity and value of the securities you have pledged.
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What are the other benefits that I can get from my Overdraft Account ?
Your Overdraft Account comes equipped with all the benefits associated with
HDFC Bank's Current
Account, such as PhoneBanking, NetBanking, BillPay and ATM facilities.
What"s more, as a privileged Loan Against Securities customer, you are entitled
to our International
Debit Card free of cost. (only for the first holder)
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How much do I pay ?
Interest rates at HDFC Bank are among the lowest available. And what"s more, you only pay interest on the amount of the overdraft that you use, and the time you use it. Interest is debited to your account at the end of each Month.
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How do I pay the interest accumulating in my account every month?
With reference to RBI guidelines vide DBOD.NO.BP.BC.10/21.04.048/2004, please note that interest debited in your overdraft account has to be serviced at monthly intervals or at such intervals as may be applicable from time to time, by way of credits into your overdraft account.
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Please note that the loan is granted only for personal purposes. Loan Amount
can not be used for speculative activities or any purpose linked to capital
market activities or for any anti social purposes.All credit is at the absolute
discretion of HDFC Bank. |
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