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Loan Against Securities

How do I approach ICICI Bank for Loan Against Securities?

You can approach us in any of the following ways

Who can avail ICICI Bank Loan Against Securities?

Where will my LAS Account be opened?

Your LAS Account will be opened at the Branch that has been specified by you. However, you can operate out of any of our Branches under the ‘Anywhere banking’ facility.

I have shares that are in the approved list but they are in the physical form. Can I get a Loan against them?

Yes, but you will have to first convert them into dematerialised form. Get your shares dematerialised through a Depository Account with ICICI Bank/any other Bank.

What is Insta LAS (Loan Against Securities)?

Insta LAS is a hassle-free and completely paperless offering of Loan Against Securities product. It is offered to select ICICI Bank customers having Equity shares as per the approved list in the Demat form with ICICI Bank. Customers can login to their Account through RIB (Retail Internet Banking) website and avail this offer within minutes by following a few simple steps.

What are the steps to avail Insta LAS?

Customer has to login to Net Banking --> Investment and Insurance --> Demat --> Loan Against Securities --> Apply now --> Confirm the amount --> Select the script and enter the quantity for pledging --> Select the appropriate options to proceed further --> Enter the OTP --> Read and agree to the T&Cs --> Fill in the details on the NSDL platform as directed--> Enter the OTP sent to your registered mobile number --> Submit and confirm the pledging ---> The limit is set.

What are the maximum and minimum limits to avail the Loan Against Securities?

The maximum limit is Rs 20 lakh and the minimum limit is Rs 50,000 per market value of the security.

Are pledge creation and closure charges levied on the Loan availed?

Yes, the pledge creation and closure charges are levied on the Loan availed by the respective Depository Participants (DP) as per their pricing schedule and these charges are to be borne by the client.

How is the interest on LAS Account calculated?

Interest is calculated on the daily outstanding balance and will be debited/charged to the LAS Account on the 2nd day of every month for the entire interest period. Please note that the interest amount due needs to be deposited in the LAS Account on the same day. If the due date with respect to any amount payable under the Facility falls on a non-business day then the succeeding business day will be the due date for such payment.

What is the Loan tenure?

The Facility is provided for one year and is renewed, basis satisfactory performance of the Account, after one year. In case the customer does not wish to renew the Facility, he/she needs to place a request for closure of the Account at any ICICI Bank Branch.

What other benefits and deliverables will I get under this Facility?

The other benefits and deliverables that you will get are - ‘Anywhere banking’ Facility with a chequebook, Enquiry Card for funds transfer and access to Net Banking Facility.

Can I increase the Loan limit after taking the initial disbursement through Insta LAS/LAS?

Yes, customers can increase the limit subsequently by pledging more shares as per the fund requirement, up to a maximum amount of Rs 20 lakh only.

How can I withdraw a particular share (close the pledge)?

You have to fill up the pledge closure form and submit it to your DP. In case the shares are not released please contact your LAS FPR. In case you want to swap your pledged shares with some other shares, the same Facility is also available provided the new shares which are being pledged are a part of our approved list. In both the cases shares will be released only if there are no dues pending towards our Bank.

What if I have to sell my shares?

You can sell your shares only by de-pledging them. In case you don’t have funds/shares for de-pledging you can sell the shares using our unique ‘online sale of pledged shares’ facility through ICICI Direct. To avail this you will have to raise a separate enrolment request. The sales proceeds will be credited to your Current Account & the utilised amount will be adjusted against the same.

How often are the shares revalued?

The routine revaluation takes place every Friday. However, a revaluation can also take place in the interim period if there is a significant fluctuation in the market.

What are the service charges and fees levied on Loan Against Securities?

How do I repay the LAS amount?

You can repay the Loan by cash, cheque or Demand Draft.

What are the lending rates for Loan Against Securities? How much should I pay for this Facility?

ICICI Bank LAP (Loan Against Securities) offers attractive interest rates, which are based on the trends prevailing in the market at the time of availing the Loan. You pay only when you use the money and for the number of days the money is used. The rates vary according to the product-variant.

How do I get to know my credit limits?

You may check the total credit limit, credit limit against individual securities, details of the securities pledged and the outstanding amount through any of the following ways:

  • Call our 24-hour Customer Care Centre

  • Visit any ICICI Bank Branch

  • Internet Banking

  • Register your e-mail ID for weekly Interim Valuation Reports (IVR) by calling our <24>-hour Customer Care Centre or visiting any Branch.

How do I pledge more Securities (from the approved list)? How long does it take?

Submit the pledge request form to your Depository Participant (DP), with whom you hold the Demat Account. Once your DP correctly initiates the pledge request in favour of ICICI Bank (mentioning your LAS Account number as the Agreement no.), the limits will be set within the next 24 working hours.

Will I get the dividend and bonus on my shares?

Yes, the dividend and bonus on the shares will continue to accrue to you.

Will more shares be included in the approved lists?

Yes, more shares will be included, as these lists are updated on a periodic basis.

Do I need to have a Demat Account with ICICI Bank?

No, you can pledge your securities irrespective of whether you have a Demat Account with ICICI Bank or any other depository. To open a Demat Account, click here

Do I need to inform the Bank for closure of the Account once the Loan is repaid?

Yes, since this is an Overdraft Account, Loan can be repaid fully and can be utilised again whenever required during the Loan tenure, therefore if the customer wishes to close the Account, he/she needs to submit a written request to the Bank for the closure of the Account.

How do I close the LAS Account?

Once the total dues are paid fully, visit any ICICI Bank Branch and request for the closure of Account.

You will have to surrender your ATM Card, unused cheque leaves of the Account along with that you will have to provide NEFT/RTGS details or ICICI Bank Account details for direct credit of the credit balance (if any), you also need to provide a cancelled cheque/Bank statement/Bank passbook, which has your name, Account number, IFSC Code and the Bank name on it.

If there is any debit balance or outstanding dues towards the Bank, customer has to ensure the repayment of the same before the final closure of the Loan amount. Unless and until the outstanding dues are repaid, the Loan Account will not be closed and the securities will not be released.

How can a surviving Account holder/nominee/claimant process the death claim with the Bank?

Death/deceased cases for insurance, Mutual Funds, bonds and shares will be initiated at the base Branch by the surviving Account holder/nominee/claimant.

Following documents are required to be submitted (Please contact your Branch for any additional documents)

  • Account closure request letter from the claimant/surviving Account holder/nominee

  • Death Certificate of the borrower

  • ID proof of the claimant/surviving Account holder/nominee

Moreover, Account holder/surviving Account holder/nominee of the Account/legal heir needs to contact the LAS RM to seek further assistance.

How will the death claim get processed upon the death of life insured, of the policy assigned in favour of ICICI Bank where the LAS is availed?

Account holder/surviving Account holder/nominee of the Account/legal heir of the deceased needs to submit the claim request to the Branch/Relationship Manager along with the Death Certificate and other documents as mentioned below:

In case of accidental death:

1. Copy of FIR/Panchnama/Inquest report

2. Copy of postmortem report

3. Copy of driving licence if, life assured was driving the vehicle at the time of accident.


In case of non-accidental death

1. Copy of medico-legal cause of death

2. Medical records (admission notes, discharge/death summary/test reports, etc.)

Moreover, Account holder/surviving Account holder/nominee of the Account/legal heir needs to contact LAS RM to seek further assistance.

How to settle the Loan outstanding amount in death claim cases?

The insurance policy will be sent to the security issuer for death claim so as to recover the Loan outstanding amount. Documents pertaining to the death claim will be verified by the security issuer and the claim will be processed as per the rules governed by the insuring company and payout will be released as per the details provided in the Bank cover letter.

All other securities will be released post recovering the Loan outstanding amount.

When will I receive the original documents submitted to the Bank post clearance of the outstanding Loan amount/Loan Account closure?

Bank will release all the original documents and send the reassignment request to remove the charges registered with any of the issuers within a period of 30 days after full repayment/settlement of the Loan amount. In case of delay in releasing the original documents beyond 30 days after full repayment/settlement of the Loan/closure of the Account, RM will communicate to the borrower about the delay reasons and the expected time of releasing all the original documents.

Whom should I call or write to in case of additional query/request/escalation?

You may call our Customer Care for further queries or write to; TAT for the closure of any mail sent to this e-mail ID will be 7 working days.

In case of loan against Insurance Policies do I need to inform the bank regarding the change in address of the branch /office from whom the original policy has been issued during the loan tenure or at the time of loan closure or reassignment request?

Yes, it is important to inform the bank of any change in address of the branch /office of the policy issuer so that we can send the reassignment request to the correct place for timely processing of the request .If the same is not done then the policy will get returned back to us or may lead to loss of original documents in transit or further delay in and reassignment of policy and receipt of the original /reassigned policy at your end .Please note that the bank will not be liable or responsible for any delay due to non updation of the correct address as mentioned above

In case of loan against Insurance Policies do I need to update my correct address at the policy issuers end so that I can timely receive the original or reassigned policy from the Insurance companies at the time of reassignment or closure of my loan?

Yes it’s important to update your correct address at your Insurance companies end for timely processing of your reassignment request .Please note that the bank will send the reassignment request to the respective Insurance companies and post that the Insurance company will send the original or reassigned policy to your address registered with them .In case the address is not correctly updated then your policy may get returned back to them or may lead to loss of original documents in transit thereby further delaying the receipt of the policies at your end .The bank will not be responsible or liable in manner what so ever due to delay in receipt of the original policies at your end due to non updation of your address at the Insurance companies end.