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Features Of CitiBank Stock Power |
Instant Liquidity
Citibank stock power is the key to unlock the power of your investments. You can avail an overdraft against your investments in select equity shares, mutual funds and bonds.
It is a comprehensive solution that helps you with your day-to-day banking and at the same time gives you instant liquidity. So, whenever you need money, you can use your shares to get the required funds.
Competitive Interest Rates
Citibank offers the most competitive interest rates for the Stock Power accounts. There are no account opening charges. Interest is levied on a daily reducing balance.
Maximum limit
Get up to 50% of the market value of securities as a limit. Approx. 300 approved equity shares and mutual funds. Investments could be your own or any other person who can be the Guarantor.
Own your security
You continue to be the rightful owner of all these securities. They are only pledged in favour of Citibank, therefore you are entitled to all the benefits accrued from these securities.
Other facilities
When you open a Stock Power account with us, you also get a one-glance statement, personalized payable-at-par cheque book, free ATM/ debit card, free access to the 24 hour CitiPhone and Citibank Online Internet banking.
Easy to borrow
Avail an overdraft limit by pledging securities in favour of Citibank. Pledge equity shares by submitting the pledge hypothecation form. For mutual funds, a letter addressed to the fund house is required. The format is available with the fund house and Citibank.
Easy Interest Terms
Interest is calculated on a daily reducing balance in your account. Pay only for the money you have used. Eg. If the interest rate applicable is 10% p.a., the interest payable would be approx. Rs.27.40 per lakh per day. If your account has credit balance, no interest will be levied.
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