Frequently Asked Questions
What is 'ENCASH’?
ENCASH facilitates the customers to get the sale proceeds credited to their bank accounts on trade date. This would be enabled only for Sell transactions and for orders executed in this product the sale proceeds would be credited on the same day as against the normal sell trade & T+2 settlement. The funds will be credited in advance thereby increasing the liquidity for the customer.
What are the salient Features of ENCASH?
ENCASH product is made available only for Equity segment. Only fresh sell orders allowed in ENCASH trade. This product is being both in Bombay Stock Exchange (BSE) and National Stock Exchange(NSE).
Can the order placed in ENCASH convert to CnC?
ENCASH orders once placed cannot be converted to CnC order. Similarly a CnC sell order once places also cannot be converted to ENCASH order.
Can the order placed in ENCASH be treated as square off order?
ENCASH orders would not be treated as square off orders even if there is buy CNC order for the same scrip during the day.
Can the client place off market order in ENCASH?
Client cannot place off market order in ENCASH.
How can the customer place ENCASH order?
When the customer places sell order, he has to select ENCASH as the product (Cash, Intraday, ENCASH). The same shall be provided through a drop down. The rest of the details that need to be filled would be the same as in a normal sale transaction. Customer can place ENCASH orders through any channels, Internet, Branch, CallN-Trade, Dealing desks.
Who can opt for ENCASH?
Any Resident Indian Clients with privilege to trade in CnC can opt for the product. NRI Client cannot opt for the product.
What is the Brokerage Rate applicable to ENCASH?
Client is charged additional 0.20% over and above the equity delivery brokerage rate applicable to him. Please note that ST, STT, Transaction charges and Stamp Duty will be payable at applicable rates in addition to the brokerage. For more details visit our website www.hdfcsec.com
When is the sales proceeds paid to the customer?
For POA customers with HDFC Bank a/c linked to trading a/c the sale proceeds will be credited to customer's bank account on transaction date.
For Non POA & Non HDFC Bank a/c holder client needs to manually release the fund, steps for releasing the fund.
ITS: Login into your account -> Click on Limits -> Click on Fund Hold & Release/Transfer -> Click on Release -> Enter the Amount
Mobile App: Login into Mobile App -> Click on Hamburger Menu on top left hand side -> Click on Fund Limit -> Click on Release Funds -> Enter the amount to be released -> Click on Release Now
Can the customer use the fund proceeds?
Fund limits arising out of sale proceeds of ENCASH trade will not be provided to the customers. Funds payout is only allowed if the security paying for ENCASH trade is successful.
How many scrips are available in 'ENCASH’?
The product is available only in CNX 200 Index scrips and other scrips as offered from time to time.
Can the client place order in ENCASH on Bank/Clearing holiday?
Client cannot place order in ENCASH on bank / clearing holidays.
Is there any client wise limit?
Yes there is a client wise limit set. At present the limit set is Rs. 25 lakh per order / per day for a client. Whereas for the trading account opened from July 2021 onwards the present limit set is Rs. 5 lakh per order / per order.
Will the ENCASH payout be release if there is debit in the clients accounts (any Exchange / Segment)?
ENCASH payout will be released to the client irrespective client had debit balance in any Exchange Segment. Further, if client has debit balance in any Exchange segment system will hold / pull back funds if client had not utilized the funds post the spot payout. For details also refer to the terms and conditions (click here)