Press Release

Everest Bank launches Loan against Shares

September 13, 2004

In its endeavour to extend wide range of products to its valued customers, Everest Bank Ltd (EBL), a joint venture with Punjab National Bank (PNB), India has introduced yet another credit scheme – “Loan Against Shares” which enables the customers to enjoy the instant liquidity against the shares approved by the bank. As per the scheme, the loan is extended to the individual/firms/Companies, business houses in the shape of Demand Loan/ Overdraft upto a maximum of Rs.50 lacs and 200 lacs for individuals and Firms/Companies respectively.

This facility can be availed by the borrowers to meet their personal/business needs. The customer will enjoy the liquidity at a low interest rate without having to sell the shares. EBL has been adding new products for the benefit of individual borrowers as well as for the business community and is committed to help in the economic development of the nation.