Zerodha is the largest stock broker in India and this company provides a way for all Indians to invest in the stock market. Along with this, this company is very user friendly and along with investing, offers are also available from here for many financial products like loan or many more.
And this offer is for all those people who keep investing from the Zerodha platform because if needed, all of them can get a loan, so that they do not have to sell their investment when the time comes, that is why this company is considered a good option.
Loan Against Securities:
In Zerodha, the loan amount is calculated based on the investment nature of the person, such as whether a person invests in stocks or mutual funds, the calculation is done by looking at all those records. After that, it is decided how much loan amount that person can get.
Loan Eligibility Criteria:
To take a loan from Zerodha application, you will have to follow the criteria given below,
You should have a trading or demat account inside Zerodha.
Your demat account should have stocks or mutual funds or ETFs as security.
The security should be liquid stock with sufficient market value for your loan eligibility criteria.
Steps To Get Loan From Zerodha Apps:
1. First of all open the Zerodha app, then go inside Zerodha Console. And login to your account by using your login details.
2. After that click on the menu option inside the Kite app and go inside the loan option, or after going inside the Zerodha console, you can click on the funds option, inside which you will get the option of loan against securities, go inside it.
3. Here you will be shown how much loan amount your demat account is eligible for, based on your account and security, from which you can select how much money you require as loan.
4. You can specify any amount as per your requirement. The amount for which you are eligible should be within the amount. After that select the repayment tenure option and check all the interest rates which will be offered to you at the time of completing the loan.
5. On confirming, your loan details will be completed and your application will be sent, after that your loan application will be approved electronically by the Central Depository Services Limited portal.
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6. You have to check whether all the KYC details in your account are up to date or not. If any additional documents are required then you have to update them immediately so that there is no problem in document verification like PAN card or Aadhar card.
7. As soon as your document verification is complete, your loan will be approved and the money will be disbursed which will be deposited in your bank account within the next 24 to 48 hours.
Conclusion:
So today we learned how you can take a loan from the Zerodha app but before that I would like to tell you one thing that before taking a loan, you should read all the terms and conditions carefully, along with this, know about all their interest rates and repayment schedules. And also, apply for a loan only after looking at all the investment leverage and other financial goals inside Zerodha.
