Q. Apart from shares which are other investments against which FAS can be availed?
Q. Whose securities can be pledged to avail FAS?
Q. What will be drawing / operating limit one can avail against pledged securities?
Q. What is the maximum amount of FAS limits one can avail?
Q. For what all purposes can FAS be used?
Q. Are there any other charges applicable?
Q. What about the annual processing charges from next year?
Q. How can I open my FAS Account?
   

 

 
Q. Apart from shares which are other investments against which FAS can be availed?
 

Apart from approved list of Demat shares FAS can also be availed against approved list of Mutual Funds, Relief Bonds, GOI Backed UTI Bonds and India Millennium Deposits.
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Q. Whose securities can be pledged to avail FAS?
  One can pledge own securities or those owned by family, friends or third party (conditions apply).
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Q. What will be drawing / operating limit one can avail against pledged securities?
  Drawing / Operating limit can be as high as 50% of the securities pledged (in case of Shares / Equity Mutual Funds). The drawing limit against security of debt mutual funds / RBI Bonds / GOI Backed UTI Bonds and IMDs is higher. Drawing limit can change depending upon the type & proportion in which the securities are pledged as well as the value of securities.
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Q. What is the maximum amount of FAS limits one can avail?
  An individual can avail a maximum limit of Rs.20 Lacs against the security of Shares / Equity Mutual Funds. This limit is higher for other securities.
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Q. For what all purposes can FAS be used?
  For any personal purpose and or Business Purpose.
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Q. Are there any other charges applicable?
  Documentation Charges: One-time documentation charges. Individuals - INR 900, Others – INR 2000.
Annual Processing Charges: Normally 0.10% – 0.35% of the sanctioned limit will be charged annually.
Quarterly Commitment Fee: A charge of INR 900 would be levied per quarter if the quarterly average debit balance in the overdraft account is less than INR 50000 for that calendar quarter.
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Q. What about the annual processing charges from next year?
  Annual Processing Charges will be applicable as per prevailing rates at that point of time. It will also depend on your utilisation of the facility.
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Q. How can I open my FAS Account?
  You can open your FAS account form the comfort of your home by just calling on our phone banking services and our executive will reach you. Or you can just drop in to your nearest branch of Standard Chartered Bank and meet any of our customer relationship managers.
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*Conditions apply