Do you own shares and need loan? Global IME Bank offers the best share loan in Nepal tailored to meet your financing needs. The Loan Against Share product of Global IME Bank is the ideal credit facility for individuals, firms, or companies involved in share trading and investment. Whether you need loan for personal consumption, stock trading, or business investment, this loan offers flexibility, a competitive interest rate and a simple approval process.
What is a Loan Against Shares?
Among various loans offered by Global IME Bank, a loan against shares is a popular loan product which allows you to use your publicly traded shares as security in exchange for the loan. The bank provides up to 70% of share value, as determined by the most recent trading price or the 180-day average market price, whichever is lower.
Features of Global IME Bank’s Share Loan
Global IME Bank’s share loan has many features:
- High Loan Value: Borrow up to 70% of the share’s value.
- Loan Tenure: Maximum 365 days, with the option of renewal depending on terms.
- Competitive Rates: Enjoy low-interest rates.
- Wide Accessibility: Loan service available in all branches of Global IME Bank.
- Fast and Simple Approval: Straightforward process with minimal documentation.
Eligibility Requirements for Share Loan
Who Can Apply?
- Individuals, firms, or companies trading shares or holding investment portfolios.
- Applicants with no more than 90% credit exposure of their total shares.
- Promoter shareholders of commercial banks holding over 1% of shares can pledge up to 50% of their holdings.
Additional Requirements for Promoter Shares
- The institution must have completed at least five years of successful operation.
- Shares of companies under merger, suspension, or delisting are not accepted until regular trading resumes.
Purpose of the Loan
This loan can be used for:
- Personal expenses
- Trading stocks, shares, or other financial securities.
- Investments in businesses or other ventures.
- Portfolio expansion, helping investors capitalize on market opportunities without liquidating assets.
Acceptable Shares for Collateral
Only shares that fulfill specific requirements are accepted by Global IME Bank:
- Publicly traded shares of reputed companies on the Nepal Stock Exchange (NEPSE).
- Shares must have a minimum of 15 trades over the past 3 months.
- The company must have positive net worth and meet capital adequacy standards.
- Shares must belong to companies with up-to-date financial audits.
How to Apply for a Loan against share at Global IME Bank
- Visit Global IME Bank Branch: Go to your nearest branch of Global IME Bank and begin with the application.
- Submit Required Document: These include share portfolios, bank statements, and forecasts of income.
- Eligibility Check: Your credit exposer and the value of the collateral will be evaluated by the bank.
- Approval and Disbursement: Once approved, you can choose between term loan or overdraft facilities.
- Online Application: Apply for loan online via FLASH – Loan Against Share.
Conclusion
The Loan Against Shares offered by Global IME Bank is a great option for individuals, businesses, or organizations looking for immediate funding for personal, trade, or investment purposes. This loan provides ease and liquidity because of its quick approval process, flexible payback arrangements, and competitive interest rates. With Global IME Bank, you can also easily convert your portfolio of shares in NEPSE-listed firms into working capital.
