Interest will be charged at 12 % on outstanding debit balance from the purchase date of positions taken under 5-Day Margin as below:
Example 1: Client has bought “A” stock in a 5-Day Margin Product on Monday, and squared off the 5-Day Margin position on Tuesday. In this case, interest will be levied for 5 days starting from T+1 till the Monday of week 2.
Example 2: Client has bought “A” stock in 5-Day Margin on Wednesday, and squared off the 5-Day Margin position on Thursday. In case Monday is a trading holiday, interest will be levied for 6 days staring from Thursday till the Wednesday of week 2.
On the squared off date, if the position is taken in the same scrip, then on both the legs, delivery brokerage will be charged.