Zerodha has come out with quite a compelling Loan Against Securities (LAS) offering. Groundbreaking, if I might add.
Recently, I read in the news that Rakesh Jhunjhunwala got a LAS deal from Barclay’s at 7.66%. Considering Zerodha offering LAS to the mass at 10.5% is pretty impressive.
Only ICICI Direct has been able to offer LAS at these rates but then they are a mega bank.
I’m overwhelmed that Zerodha really want us to suceed. Recently, Motilal Oswal has also launched LAS as ‘Flexi Loans’ but they are offering it at 14.5% which is just not as compelling as Zerodha Capital’s offer.
Now, Zerodha needs to improve the LAS portal and give it a technological polish. You should be able to replace the underlying (pledged) securities with new pledged ones, without closing the loan, since it might happen that we need to sell the pledged shares.
Lastly, Zerodha. Please launch MTF as soon as possible.
#1. Option to replace the pledged securities with new shares in LAS portal.