Share pledge can be used for two purpose
Pledging of shares to take loan in the bank:
In this process you block the value of shares and transfer to the demat account through Delivery Instruction Slips (DIS) in order to take loans against pledged shares from respective bank. You may send email to email@example.com if you wish to pledge for loan.
Pledging of shares to get higher exposure:
In this process, you will get extra exposure for your trading.
- Important points to remember:
- List of scrips available for pledging under MAS: The list of scrips available for pledging under MAS has about 850 stocks in it. This list is decided as per Trade Smart Online’s internal risk policies. It will be reviewed periodically and updated accordingly.
- Charges: The pledging charges will be Rs 60 + GST per scrip irrespective of the quantity. So if you have pledged 100 quantity of Reliance and 200 quantity of ACC you will be charged Rs.120 (60*2) exclusive of the GST. The pledge charges will be debited from your ledger the day you place the pledge request. No charges will be applicable for unpledging.
- Trading Platform: It will be available for all NEST platforms (Desktop, Mobile and Browser).
- Demat account: To avail MAS facility for your account, you should have a online demat account.
- Selling Pledged shares: Pledge shares will be shown in holding and could also be sold directly without unpledging.
- During the period of pledge, you will continue to receive dividends, bonus etc.
- Process to Pledge Shares:
To pledge any scrips, you would require to login to BOX and request for pledge of shares. Your request would be processed in two working days.