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Demat for immediate withdrawal
- Thread starter Jatin1987
- Start date
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- Tags
- bank account demat
T plus 1 is setting time
Not sure same day possible
Jatin1987
TF Select
I don't remember but i heard it somewhere.. And this is the best place to ask.
Same day withdrawal is not possible as of now. India operates on T+1 settlement, so next day withdrawal only. T+0 is is getting tested on pilot basis, may happen by end of this year for limited stocks
Piyush_Jaiswal
TF Ace
Zerodha has instant withdrawal feature for upto 1 lakh
Dhan has instant withdrawal feature for upto 80% of available balance with a maximum cap of 5 lakhs.
Instant withdrawal feature is available only on working hours on working days.
Dhan has instant withdrawal feature for upto 80% of available balance with a maximum cap of 5 lakhs.
Instant withdrawal feature is available only on working hours on working days.
Zerodha user here
If i sell for 1lac holding i cant purchase for 1lac worth shares same day
Only 80k i can
Then how they allow withdrawal of 1lac
Wil try next time
In reality its not possible as settlement of funds is T+ 1Working day and if it holidays in between the next working day which can be maximum 4 days also till holidays are there. But some demat providers leverage their clients with amount of money. With ICICIDirect, you have eATM facility with many stocks where you get money instantly and can use within 30 mins but why instant? You can always plan well in advance. Always use or lose, only the money you have.
superstar@123
TF Select
Yes, Dhan provides immediate redemption to a certain percentage !
Genrally upto 5 lacs or 80% of funds available for withdrawal is available for immediate funds transfer and since its done through IMPS, the fund are transferred instantly.
You can open account using my referral link and I can guide you further on various other features and walk you around various aspects of it !
More in immediate funds withdrawal facility here:
Genrally upto 5 lacs or 80% of funds available for withdrawal is available for immediate funds transfer and since its done through IMPS, the fund are transferred instantly.
You can open account using my referral link and I can guide you further on various other features and walk you around various aspects of it !
More in immediate funds withdrawal facility here:
indmoney is offering this 60-70% immediately and rest one day later.. chk
Piyush_Jaiswal
TF Ace
Yes only 80% is available for instant withdrawal
Jatin1987
TF Select
Yes i know that but its not the thing. I asked like u sold shares and it automatically settled in your bank account on same day. BTW Thanks
Jatin1987
TF Select
Ek dum Right
Piyush_Jaiswal
TF Ace
No, it can't be automatically settled in your account.
Currently, Brokers receive the money in T+1 days so how can they transfer it directly to you bank account on same day itself.
If any broker is giving instant settlement feature, that means they are transferring their money for the time being and they will get the amount back after a day.
That's because SEBI after Karvy fiasco directed the brokers to block 20% more margin than the actual amount on sale orders so in case of short delivery or if client buy backs some shares with rest money, atleast some money will be there to cover loss if any in intraday.
So while selling the rule told it would be Sale Price + 20% amount amount block until shares are debited from seller demat to avoid any shorfall scenario. Now getting 20% extra from client for selling of share was impossible so they went reverse, They, out of total sale value started blocking, 20% and release only 80% to adhere to SEBI rule. It helps them in case client shares are pledged yet they make a sale txns. But these days pledged shares are blocked and cant be traded. That's why you get only 80% of total sale value because it is hard to get 20% more margin from client.
I tell you by example: If you had Share A trading at Rs.100 and you sell your 100 qty then SEBI asked brokers to keep margin of Rs.10000 (Sale Value)+20% of it = Rs.12000 to be blocked until shares debit from seller account and release all margin money of 20% i.e 2000 only after that. They instead made it 8000+2000 and block actually 25%. SEBI liked it and allowed it.
Thanks for the info
Things keep on renovating
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