How do you calculate the refund amount received in the event of pack cancellation?

How do you calculate the refund amount received in the event of pack cancellation?

If you cancel your subscription pack within 3 days, you might receive a refund of what you paid, except for the benefits you've used.

The benefit amount considered for refund calculation includes factors like the number of Free Trades used, any discounted brokerage rates applied, complimentary Net banking pay-in charges, and complimentary DP transaction charges, if applicable.

The final refund amount is calculated by subtracting the total benefits used from the total amount paid for the pack.

It's important to note that specific terms and conditions may vary depending on the subscription package.

Refund Calculation Example:

  • You subscribed to the Ultra Trader monthly pack for ₹1414.82.
  • After 2 days, you decided to cancel.
  • During these 2 days, you placed 30 orders in NSE Futures and 10 buy orders in NSE Cash.
  • Benefit Used: ₹300 (for NSE Futures) + ₹200 (for NSE Cash) = ₹500
  • Refund Amount: ₹1414.82 (Total Pack Amount) - ₹500 (Benefits Used) = ₹914.82 

Pack Amount paid 

Rs 1414.82

Discounted brokerage used NSE Futures

300 (30 * Rs 10) 

Discounted brokerage used NSE Cash

200 (10 * Rs 20)

Eligible for Brokerage cashback * 

300

Total benefits used

Rs 800

Reversal amount *

Rs 614.82