Are you invested in a demat share account? Did you know that you can use your demat share to apply for a loan against it and cover many of your needs? Yes, it’s possible when you avail the facility of loan against demat shares.
What is a loan against demat shares?
The loan against demat shares is provided when you pledge your demat shares investment with a lender. In turn, you can borrow a large amount at a lower interest. The loan facility enables you to pay lower EMIs as it’s a secured loan account.
You can borrow up to Rs.10 crore as per your loan against demat shares eligibility and use the funds for multiple purposes.
How to make the most of the loan against demat shares funds?
There are several ways a prospective loan against demat shares borrower can use the loan funds to cover many needs. Have a look:
1) To consolidate debts
One of the reasons why people apply for the loan against demat shares is to consolidate their multiple existing debts. Paying off all debts helps one to pay just one loan against demat shares EMI, which they can manage without issues.
2) To fund the expenses of a wedding
No matter how good you prepare for a wedding, you may still be short of some or the other ways. Hence, to make it a grand wedding for yourself or your children, the loan amount could be used for the same.
3) To meet medical emergencies
If you are prepared well, medical emergencies may eat all your savings. Hence, if you don’t have a health insurance plan, you can use the loan against demat shares. You can utilize the loan money to pay for medicines and hospital and other related costs.
4) To expand your business
Many people are unable to give a new lease of life to their businesses at the right time due to the lack of funds. However, when you are availing the loan against demat shares facility; you can use the loan amount to do it easily. You can use the money to buy or lease new space, purchase new devices, hire employees, manage healthy cash flow and much more.
5) To send your children overseas for quality education
Borrowers can also use the loan money to enroll their children into overseas courses at leading institutes. This way, your children may be highly educated which may pave the way for a better career.
Some of the many ways you can make the most of the loan against demat shares are discussed. The loan against demat shares works like a personal loan which means you can use it the way you like as per needs best known to you.
So if you are thinking to apply for loan against demat shares, you can search the top lenders of the country who are providing this amazing facility offline and online both. So do not hesitate to apply for this facility, visit the official websites or nearest branch locator of lenders and make your chances fancy.