Pledge Loan
pledge loan differs from a standard loan in that the loaned amount is completely backed with collateral from the borrower. A borrower can use their funds, such as a savings account, as collateral to obtain a loan.
pledge loan differs from a standard loan in that the loaned amount is completely backed with collateral from the borrower. A borrower can use their funds, such as a savings account, as collateral to obtain a loan.
Last Updated Date: May 16, 2022
Sunrise bank limited has provided its customers with up-to-date banking services and facilities under the motto Rising to serve. The bank was founded by renowned pioneers and its team is completely committed to creating a dedicated institution to provide all banking needs and services. The aim of this bank is to provide all kinds of individuals in every area, size of transaction and aspiration with the tailor banking service. It has approved the capital with regard to the capital structure of the bank: 5,000 million, Promoter Shares of NRs (51% of the paid-up capital), 1,140.70 million respectively. For public stock, which is 49% of the paid-up capital, 1,095.95 million. This bank is not only open for profit motive But also with the aim to be a friend who will take care of people’s financial affairs and support them. This bank is always in operation to ensure the customer's success.
A pledge loan differs from a standard loan in that the loaned amount is completely backed with collateral from the borrower. It is a well known fact that the prices of agricultural commodities immediately after harvest, tend to be low compelling the farmers specially the small and marginal farmers with low or no holding capacity, to resort to distress sale. There has been a felt need to provide the farming community with pledge finance to enable the farmers to avail credit when the prices are low and to sell their produce when the prices are favorable. A borrower can use their funds, such as a savings account, as collateral to obtain a loan. pledge loans against the stock after verification of the same. The stock, however, is kept under lock and key of the Bank and the loan disbursed and settled in pro rata basis with the stock pledged and sold. The funds used as collateral then become "frozen" until the loan is paid back in full. Because pledge loans are fully backed with collateral, they are easier to obtain than traditional loans and offer a number of other benefits to borrowers such as:
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