Mr. Arvind Pal |
 |
Financing available for employees to easily subscribe to Employee Stock Options (ESOPs) entitlement on the exercise date.
Will be communicated at the time of Loan Application
Kindly note that the list of documents mentioned is indicative. During loan processing additional documents may be asked for. The same will be appropriately communicated to you as and when required.
The shares shall be held in Demat account and lien marked in our favour. All the shares financed under ESOP to be taken as security. Employer company to give a certificate indicating DP ID/ Name of account holders, Number of shares held and confirming noting of our lien/ charge on the holdings.
What is Employee Stock Ownership Plan (ESOP) Financing?
ESOP Financing enables employees to avail funding to exercise their ESOPs. In case an employee faces a shortfall of funds to exercise his ESOPs, he can avail finance facility from SMC. Product is aimed at financing the Exercise Price + Perquisite tax. Through ESOP financing employees can hold equity in the company and benefit from appreciation in the value of their shares.
What is the advantage of Employees Stock Ownership Plan?
The advantage of an ESOP is that it allows employees to acquire stocks or ownership in the company they work for. From being an employee of the company, you become a part owner of the company.
What are the key requirements for ESOP financing?
In order to avail our ESOP financing
Who is eligible for obtaining finance for ESOP?
Employees of a company, who are eligible to apply for ESOPs and are approved by SMC, can avail this facility.
What security / collateral do I have to present for the loan?
As such, no additional security / collateral is needed to be provided, apart from the shares against which the ESOP funding is granted. However, in case of any deficiency, SMC may require separate collateral/ guarantee etc. on case to case basis.
How is interest calculated on my loan for ESOP?
Interest is calculated based on the actual day basis tenure opted at the time of application.
Refer to the term sheet shared with you to know the exact charge, if applicable.
What is the process for foreclosing financing account?
You have to send a request and settle outstanding dues along with interest, prepayment charges and any other charges applicable.
Can I pre pay my loan?
Yes, you can prepay the loan amount. However, a minimum commitment charge / prepayment charge may be applicable.
An Employee Stock Option (ESOP) gives you an opportunity to buy your company’s shares on a future date at an exercise price determined at the time of grant, thereby escaping any immediate financial stress. You can thus exercise your right without any immediate financial stress.
Financing available for employees to easily subscribe to Employee Stock Options (ESOPs) entitlement on the exercise date.
Mr. Arvind Pal |
|
Will be communicated at the time of Loan Application
Kindly note that the list of documents mentioned is indicative. During loan processing additional documents may be asked for. The same will be appropriately communicated to you as and when required.
The shares shall be held in Demat account and lien marked in our favour. All the shares financed under ESOP to be taken as security. Employer company to give a certificate indicating DP ID/ Name of account holders, Number of shares held and confirming noting of our lien/ charge on the holdings.
What is Employee Stock Ownership Plan (ESOP) Financing?
ESOP Financing enables employees to avail funding to exercise their ESOPs. In case an employee faces a shortfall of funds to exercise his ESOPs, he can avail finance facility from SMC. Product is aimed at financing the Exercise Price + Perquisite tax. Through ESOP financing employees can hold equity in the company and benefit from appreciation in the value of their shares.
What is the advantage of Employees Stock Ownership Plan?
The advantage of an ESOP is that it allows employees to acquire stocks or ownership in the company they work for. From being an employee of the company, you become a part owner of the company.
What are the key requirements for ESOP financing?
In order to avail our ESOP financing
Who is eligible for obtaining finance for ESOP?
Employees of a company, who are eligible to apply for ESOPs and are approved by SMC, can avail this facility.
What security / collateral do I have to present for the loan?
As such, no additional security / collateral is needed to be provided, apart from the shares against which the ESOP funding is granted. However, in case of any deficiency, SMC may require separate collateral/ guarantee etc. on case to case basis.
How is interest calculated on my loan for ESOP?
Interest is calculated based on the actual day basis tenure opted at the time of application.
Refer to the term sheet shared with you to know the exact charge, if applicable.
What is the process for foreclosing financing account?
You have to send a request and settle outstanding dues along with interest, prepayment charges and any other charges applicable.
Can I pre pay my loan?
Yes, you can prepay the loan amount. However, a minimum commitment charge / prepayment charge may be applicable.
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