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Insta Las

How much time does it take to open a LAS Account through Insta LAS?

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Since Insta LAS is a complete digital and paperless process, your LAS Account will be opened and it will be functional within a few minutes. The facility shall be available during:

Monday to Friday: 9:00 a.m. to 6:00 p.m.*

1st and 3rd Saturdays: 9:00 a.m. to 2:00 p.m *

*The facility shall not be available on public holidays and bank holidays for Mumbai, Maharashtra Region, as declared by the Bank on its website.

Can I apply online for additional overdraft limit?

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The Limit Enhancement feature is currently not available online. You may visit the nearest ICICI Bank branch for enhancing the limit.

1. What is Insta LAS?

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Insta Loan Against Shares (LAS) is a complete digital and paperless process by which you can pledge your shares online to avail of an instant credit limit in your account. The funds are available for use immediately. At present, only equity shares can be pledged under Insta LAS.

ICICI Bank has launched the Insta LAS facility with the following propositions:

  • Loan up to 50% of the value of the pledged shares, with a maximum limit of Rs 20 Lakhs.
  • Facility available against the list of shares approved by the Bank
  • Loan by way of an overdraft (OD) facility
  • Interest is charged on the utilised amount and for the utilised period only.

Can I de-pledge the shares online?

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For de-pledging shares, you may visit the nearest ICICI Bank branch.

Will I be able to specify a new communication address for the Insta LAS Account?

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The account will have the communication address and contact details which are already registered in your existing linked Savings Account. Post account opening, you may visit the nearest ICICI Bank branch and update the new communication address.

What are the steps to avail of Insta LAS?

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The entire process gets completed in four easy steps in a few minutes.

  • Log in to Retail Internet Banking> My Accounts> Demat> Click on the ‘Loan Against Securities’ offer link tab
  • Accept the Terms and Conditions
  • Select and confirm the shares that are to be pledged. You will be directed to the NSDL website
  • Confirm pledging on the NSDL website via the One-Time Password (OTP) that will be sent to your registered mobile number and the limit will be set in your account. The funds are available for use immediately.

Do I need to have a Demat Account with ICICI Bank to apply for Insta LAS?

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Presently, the Insta LAS facility is available for a set of ‘pre-qualified’ individual customers who have been maintaining an NSDL Demat Account as well as a Savings Account with ICICI Bank.

Where will my LAS Account be opened through Insta LAS?

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The LAS Account will be opened in the same ICICI Bank branch where you have your existing Savings Account. But you can operate the facility from any of our branches under the Anywhere Banking facility.

Are there any specific eligibility criteria to apply for Insta LAS?

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This facility is currently available for a set of ‘pre-qualified’ individual customers who have been maintaining a National Securities Depository Limited (NSDL) Demat Account as well as a Savings Account with ICICI Bank, and more importantly, those enjoying a past relationship with ICICI Bank.

Some other criteria include updated Know Your Customer (KYC) for Demat and Savings Accounts, singly held Demat Account, Demat Account with shares of the approved share scrips, etc.

This facility has been launched only for Resident Indian customers. Non-Resident Indians (NRIs) are currently not eligible for this loan.

To avail of this facility, log into Retail Internet Banking> My Accounts> Demat, you will find the ‘Loan Against Securities’ option. Only eligible customers will be able to view this option which has been exclusively made available for pre-qualified customers.

What should I do if the Insta LAS Account opening does not go through successfully?

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You can call our Customer Care in case you faced an issue while opening the account through Insta LAS.

What is the minimum and the maximum credit that a customer can avail of through Insta LAS?

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The minimum amount is Rs.50,000/- and the maximum can go up to Rs.20,00,000/-.