What are the Delayed Payment Charges?

What are the Delayed Payment Charges?

We charge 0.06% interest per day (21.90% p.a.) on debit balance. The charges are calculated on daily basis but posted in ledger on weekly basis.

Charge Type
Rate
Delayed Payment Charges (DPC)
0.06% per day

Understanding this in detail:
  1. Ledger balance of all segments including Mutual Funds is considered for calculating Net Ledger Balance.
  2. If you buy shares on Monday and make payment by T+1 day i.e. by Tuesday then DPC is not applicable. However, when the payment is delayed beyond T+1 then the DPC will be levied @ 0.06% per day until the payment is realized.
  3. If you buy on Monday, do not make payment by T+1 i.e. by Tuesday and instead choose to sell securities on say, Tuesday; DPC will be levied for 1 day i.e. for Tuesday because the settlement day for sell trade will be T+1 i.e. on Wednesday.

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