Frequently Asked Questions

The additional margin is debited from the limits. It is the client's responsibility to check the adequacy of margins at all times and mark a hold on the required funds for increasing the limits in order to avoid Square off of the position/s by HDFC securities.

 BSPL (Buy Stocks Pay Later) trading can be done between 09:00 AM to 03:30 PM. However, you should square off the open position by 2:45 pm* on T+275 day or as applicable.

*This is subjected to change / review by HDFC securities Ltd from time to time

 BSPL (Buy Stocks Pay Later)  is a leveraged trading facility. You can create positions under this product that can be squared off or converted to delivery (C2D) till T+275 day (T= being Trade date) on or before the specified time. The said facility will be available to the customers agreeing to the terms and conditions (T&C) of  BSPL (Buy Stocks Pay Later) 

Amendment starting from 01st January, 2020

1) Customer who have already agreed the revised T&C of  BSPL (Buy Stocks Pay Later)  T+180 days will be eligible for T+275 days. All the open position till 31st December, 2019 will continue under duration of T+180, whereas all the new position created from 01st January, 2020 will be considered under the revised duration of T+275 trading days.

2) Customers agreeing to the revised terms and conditions (T&C) of  BSPL (Buy Stocks Pay Later) post 31st December, 2019 can create positions under this product that can be squared off or converted to delivery (C2D) till T+275 day (T= being Trade date) from the day they agree to the revised T&C.

Unlike for a 'Cash' order, you do not have to pay the full order value for  BSPL (Buy Stocks Pay Later) orders.

You can take positions with lesser margin amount with an option to carry the position till a maximum of T+275 days or as applicable. In case you do not square off or convert the position to delivery, HDFC securities will square off the trade on T+275 days or as applicable at any time after 2:45 pm. This is subjected to change / review by HDFC securities Ltd from time to time.

Settlement holiday(s) will be counted as a trading day.

 BSPL (Buy Stocks Pay Later) is available only in equity segment not in F&O segment.

Example: You buy 100 shares of ABC @ Rs. 2500 on Monday. You have an option to square off the position or convert to delivery till T+275 day or as applicable (i.e. 275 Trading days). If you fail to square off the position before 2:45 pm on T+275 day or as applicable, your position will be squared off by HDFC securities. However, you will be liable to pay Mark to Market loss arising on open positions under Buy Now Pay Later on a daily basis.

The list of Securities and Security Specific margin rates will be displayed on trading website and may be subject to change / review by HDFC securities Ltd from time to time

Margin will be released after deducting loss on square off (if any) and this limit can be utilized for trading in other equity product

No, you cannot short sell in BSPL (Buy Stocks Pay Later) product.

You can convert an BSPL (Buy Stocks Pay Later) trade into delivery only if you have adequate cash limits. You can also mark hold on additional funds from your linked Savings account.

Example: You buy 100 shares of ABC at the rate of Rs. 2500 under BSPL (Buy Stocks Pay Later). Limit utilized is say Rs. 75,000 against total order value of Rs. 2,50,000

If you decide to take the delivery of 100 shares, you will have to mark a hold on additional funds of Rs. 1,75,000 (Rs. 2,50,000 - Rs. 75,000).

Margin amount and mark to market loss i.e. difference between buy price and closing price will be debited at the end of each day if the position is taken against the cash margin. Whereas, if the position is taken against the collateral then only mark to market loss will be debited. Effectively; ‘Mark to Market’ Loss shall not be adjusted against any kind of Collateral Limit that the customer may have 

You can convert the 'Buy Stocks Pay Later' position to delivery on 'T' day from Day's Trade book by selecting a trade reference and by clicking on Convert to Delivery option.

If you want to convert the 'Buy Now Pay Later' position on 'T+1' to 'T+275 day or as applicable, you have to go to ‘Open Position Book’ and click on ‘Convert to Delivery’ (C2D) option and enter the quantity to be converted.

Once the funds paying is done, C2D process will get completed. However, the quantity converted to delivery can be sold only when the same is credited to the Demat account.

Interest will be charged @18% + GST (effective only until the 28th December, 2018) on outstanding debit balance from the date of pay-in, for positions taken under BSPL (Buy Stocks Pay Later) as below :-

**Number of Holidays means Saturday, Sunday and trading/settlement holidays (if any) shall be included.

Example 1:- Client has bought “A” stock in Buy Now Pay Later Product on Wednesday and squared off the BSPL (Buy Stocks Pay Later) position on Thursday. In this case interest will be levied for 3 days starting from Friday till Sunday.

Example 2:- Client has bought “A” stock in Buy Now Pay Later on Wednesday and squared off the BSPL (Buy Stocks Pay Later) position on Thursday In case Monday is trading holiday, interest will be levied for 4 days staring from Friday till Monday

Yes, you can partially convert your BSPL (Buy Stocks Pay Later) position to delivery. However, on T day, if you need to convert an Buy Now Pay Later trade to delivery, the quantity should be equal to the executed quantity at trade level. (Basically on T day, only Trade wise C2D is allowed).

Example: You placed a buy order today for 100 ABC shares. The order got executed in parts: 40, 30, 20 and, 10 shares with four different trade reference numbers. Now, if you wish to convert this trade to delivery, you can do so based on the quantity in each trade reference number. Now if you try to convert 50 shares on 'T' to delivery, system would not allow you to do so.

From T+1 Day to T+180 day or as applicable, you can convert BSPL (Buy Stocks Pay Later) Open Positions to delivery as per your requirement.

Delivery brokerage shall be applicable on your convert to delivery position. However, any fresh position created on the same day of C2D in the same scrip will also attract delivery brokerage as the settlement of the C2D transaction will happen only in the evening and brokerage will be charged on FIFO logic of transactions executed.

For instance:

On 01/01 - Client has buy trade of 100 qty of ABC Scrip  --- System will charge Delivery Brokerage on Buy trade.

On 02/01 – Client has executed a sell trade. System will charge Delivery Brokerage.

Yes. If you have purchased a stock on one exchange, you can sell the same on another exchange.

If any client squares off his/her  BSPL (Buy Stocks Pay Later) position on the same trading day, in an Intra-day scrips, then brokerage would be charged at 0.05% or Rs 25, whichever is higher, on each leg. If it is an Buy Stock Pay Later scrip (not forming part of Intra-day Product list), then brokerage would be charged at 0.10% or Rs 25, whichever is higher, on each leg. 

In case of any short payout is received from the exchange for any particular security and client has multiple open positions in the said scrip, then position will get closed for short quantity on FIFO basis.

*This is subject to change/review by HDFC securities Ltd from time to time

18% GST on Brokerage is Applicable 

Yes, you can utilize sales proceeds against the sale for trading in BSPL (Buy Stocks Pay Later) Product.However if you have sold share before delivery( i.e on T +1) then you will be able to use the sale proceeds only after settlement ( i.e after T+ 2 days from the selling date).

In case of insufficient limits, the available limits are checked and the additional margin requirement is recomputed.

Positions with short margin may get squared off by HDFC securities.

In case of mark to market profit no additional trading limit will be provided. Whereas in case of mark to market loss, loss will be debited from bank account on a daily basis (collaterals will not be factored for the mark to market losses).

Yes one can create an BSPL (Buy Stocks Pay Later) position against the cash limit created by selling stock in cash product, however the system will try to pull the funds from the bank account at the End of the Day (EOD).

Yes customers can place Buy Now Pay Later buy order against the shares as collateral by selecting BSPL (Buy Stocks Pay Later) as an order type in Off market.

Yes customers can place E-Margin buy order against the shares as collateral by selecting E-Margin as an order type in GTDT.

No, System will only allow you to convert the open E-margin position against fresh funds hold from saving bank account.

Yes  BSPL (Buy Stocks Pay Later) position can be taken against the trading limit, available balance in bank account and as well as against Pledged share. 

Yes customers can place  BSPL (Buy Stocks Pay Later) buy order against the Pledged shares by selecting Buy Now Pay Later as an order type in Off market.

Yes you can sell the share on T+1 however the margin may be applicable on the same.

Yes  BSPL (Buy Stocks Pay Later) position can be taken against the pledged share but before placing an order under  BSPL (Buy Stocks Pay Later) , the client will have to initiate pledge request for the securities available in demat account. Once the limit is provided against the pledge only then the client will be able to place order.

Yes customers can place BSPL (Buy Stocks Pay Later) buy order against the Pledged shares by selecting Buy Now Pay Later as an order type in GTDT. 

This product is available only for POA customer

Yes, the same can be converted only during market hours on T Day