I hold NSCs worth about a lakh. Can I take a car loan against them?
Chaaya Pratap, Lucknow
Yes, you can. You will have to offer the NSCs as collateral for the loan. You will have to sign some forms depending on the procedures set by the lender, granting you this loan. You may also need to furnish additional documents or undertaking, which may be specified by the lender, which are all standard procedures and nothing out of the ordinary. The lender should be able to take you through this procedure. In case you own the NSCs in a joint name, you will need the consent and signatures of the co-holder.
