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LOAN AGAINST SHARES

  • Overview
  • Benefits
  • Account Opening
  • Documents
Overview on LAS

Your long term investments can be short term opportunities. To meet immediate short-term needs exclusively to buy securities from secondary market, you don't have to sell your securities-instead you can get fast and hassle free loans against them of upto 50% from Progessive Global Finance Pvt. Ltd. An NBFC arm of Progressive Group.

Benefits of Investing with us:

We understand that as a customer you may want to leverage on your investments. We offer customers a convenient means to meet their liquidity requirements exclusively for buying securities by providing finance against shares. By leveraging on market know-how and technology, we aim to deliver a compelling combination of product,service and price to value-driven customers.

Instant Liquidity

PGFPL is the key to unlock the power of your investments.You can avail a loan against your investments in selected and approved equity shares.

It is a comprehensive solution that helps you acheive your short-term investments objectives. So, whenever you need money to invest in secondary market, you can use your securities to get the required funds.

Competitive Interest Rates

We offer the most comprehensive interest rates. Interest is levied on a daily reducing balances.

Own your security

You continue to be the rightful owner of all these securities. They are only pledged in favour of PGFPL, therefore you are entitled to all the benefits (e.g.dividend,bonus,rights,etc) that accrue on these benefits.

No fixed tenure

There is no fixed tenure to utilise loan (renewal every year) customer can prepay entire outstanding at anytime. No prepayment charges are charged.

Easy to borrow

Availing a loan is very easy with PGFPL. No personal guarantor is required. All you need to do is complete the simple documentation and our easier and faster processing to get you the loan.

Account opening Process

Individual or Corporates can avail LAS in 3 simple steps:

  • Sign Loan Application Agreement with PGFPL.
  • Open Demat account (POA) in Progressive Share Brokers Pvt. Ltd.
  • Open Bank Account (POA) with our designated bank.

Eligibility and Sanction criteria

  Eligibility:

All you need is a Trading account with us.

  Sanction:

Loan Sanction amount will be based on ITR /Form 16 and Balance sheet as under:

  • Individual : 5 times of income declared in latest ITR /Form 16.
  •   Corporate : Based on Net worth, certified by CA.


   Documentation:

Loan A/c Opening Form (PGFPL)

  • Customer has to execute Loan Agreement with PGFPL.
  • All the documents need to be completed and self attested.
  • Processing take 5 days subject to Bank account opening.

Demat A/c Opening Form (PGFPL)

  • DP account opening is mandatory with Progressive Share Brokers Pvt. Ltd. with POA.
  • It's at client discretion to either give POA for existing DP account or to open new DP account for NBFC.

Bank A/c Openinig Form (Canara Bank)

  • Client needs to open POA Bank A/c.
  • Our Bank Account is with Canara Bank.
  • Bank account will play a role of noodle account for payment and receipt.

Attention Investors :
Prevent Unauthorised transactions in your account --> Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile / email at the end of the day .......... Issued in the interest of investors
Attention Investors :
Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL on the same day......................issued in the interest of investors.
Attention Investors :
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
Attention Investors :
No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.