Presenting Lines Against Securities from ABN AMRO Bank. A unique scheme that guarantees you instant liquidity against your securities. To meet your personal needs or your investment needs be it in the primary market or the secondary market.

The information you need about Lines Against Securities from ABN AMRO Bank is detailed here in the form of answers to commonly asked questions. You can apply for this exciting ABN AMRO Bank product, by downloading the application form. You can mail the completed form to any of our branches. Please note that you will have to send us the required documents to complete your application.

If you have further queries, please contact us and we will get back to you at the earliest.

* Conditions apply. Loans at the sole discretion of ABN AMRO Bank.

What is Lines Against Securities from ABN AMRO Bank?
This is an easy to use overdraft facility up to Rs. 20 lakhs granted against approved shares and mutual funds owned either by you (the borrower) or your immediate relatives (third party pledgers). The shares should be in dematerialized form. We will also accept physical shares subject to you dematerialising them through a depository account with ABN AMRO Bank. Only after your shares get dematerialised will you get the overdraft limit.

How does Lines Against Securities from ABN AMRO Bank work?
A current account is opened in your name (initially for a 1 year period), and you are provided with a personalised cheque book, ATM card, and access to the Bank by Phone service. You can then use these to withdraw and deposit money from / into your account, and, access an exciting range of banking services. Of course, you pay interest only for the amount and period for which your overdraft facility is utilised.

What makes Lines Against Securities from ABN AMRO Bank different?
Lines Against Securities from ABN AMRO Bank comes with a host of features to ensure maximum convenience for you:

Single window for all your needs-
Single window for setting up new lines, addition / withdrawal of pledged shares, getting statements, account related queries etc. Which means, no more running from pillar to post.
Limits set up quickly-
No more waiting!
Single scrip portfolio-
Even if you have a single scrip portfolio you can avail of upto 45% of the value of that particular scrip. Single scrip portfolios are those where a single scrip contributes more than 60% of the value of the portfolio. There is no concept of single scrip in case of mutual funds
Get up to 50% of your portfolio value.

What shares can I pledge to avail of Lines Against Securities from ABN AMRO Bank?
You can pledge securities from our approved list. There is a specific list for single scrip portfolios.

Whose shares can I pledge?
You can pledge your own shares or those belonging to any of the following:

Your spouse
Your children (above 18 years of age)
Your parents - your brother(s) / sister(s)
In-laws
Grandparents
Grandchildren (above 18 years of age)

My shares are in your approved list - but they are in physical form. Can they be pledged? - You will first need to get your shares dematerialised through a depository account with ABN AMRO BANK and subsequently a limit will be provided.

There are many advantages of getting your shares dematerialized. The government is encouraging all investors to dematerialize their shares.

What is the interest rate I have to pay?
Lines Against Securities comes to you at attractive interest rates and are based on trends prevailing in the market at the time of the loan. At present the interest rates range between 11% -15%.

These rates are currently applicable and can be changed any time from time to time, at the sole discretion of ABN AMRO Bank and without any prior or post notice to the customer and such changes shall be final and binding on all customers of ABN AMRO Bank

How is the interest calculated?
In the Overdraft account, Interest will be charged only on the amount you draw and for the period that you draw. Thus interest will be charged on a daily basis, but will be debited to your account only once a month. final and binding on all customers of ABN AMRO Bank

Is there any additional fee?
Yes, there is a nominal processing fee, which will be charged to you.

Do I get any special privileges as a Lines Against Securities customer?
Yes! As a Lines Against Securities customer, you are entitled to a host of value added services. These include:

Concessional rates on your depository account with ABN AMRO Bank
Concessional rates on your ABN AMRO Car Loan
Free access to 24 hour ATM facility
Free Access to 24 hour Bank by Phone facility
7 day banking from 10 a.m. to 7 p.m. - 365 days a year*
Cash delivered up to Rs. 25,000/- to your home / office
Free access to your account from any ABN AMRO Bank branch in India

And that´s not all! As a Lines Against Securities customer, you will be offered a Special Loyalty Discount on the annual commitment charge when your line is renewed at the end of the first year.

How can I avail the Lines Against Securities facility?
Easy. Just give us a call on our Bank by Phone numbers and our representative will be most happy to assist you with the application process.

How long will it take for my loan to be processed ?
ABN AMRO Bank shall use its best endeavour to inform you about the decision status of your loan application, usually within 3 days from the date all documents/ information, as required by the Bank, from time to time, is furnished by you to the Bank.