TABLE OF CONTENTS
What is meant by Payout of funds?
Payout of Funds is basically the withdrawal of funds from the Trading account. It is where you request us to transfer the amount lying as clear credit in your ledger balance to any of the bank accounts you have registered with us as per your choice.
How to make payout request from Rocket Exe?
You will not be able to make a request to withdraw funds from BOW or the Rocket Exe. You will be required to login to Rocket Web or Mobile App to do so.
When will my funds get credited to my bank after making a payout request?
Your payout request will be processed as per the timelines mentioned below:
|Segment||Time of payout request placed by client||Time of payout initiated by Tradeplus |
| ALL||ALL PAYOUT REQUESTS RECEIVED UNTIL 11.59 PM ON ALL WORKING DAYS||ON OR BEFORE 11 AM ON THE NEXT WORKING DAY|
Saturday/Holidays - Payout requests shall not be processed. Please note that NEFT/ RTGS fund transfer may take 2 to 3 hours from the time of authorization at our end to credit your bank account if there is no technical issues at the bank end.
Can I withdraw full funds?
Yes, you may, if that is your withdrawable balance.
Withdrawable balance is the amount of money you can transfer from the trading account to your bank account. Your withdrawable balance may differ from the total available funds in your account since funds from trades are not immediately settled.
In India, exchanges follow a rolling settlement cycle. Funds from the sale proceeds get settled to the trading account after two trading days. Similarly, trades in the F&O segment gets settled after one trading day. Therefore, you will be able to withdraw only the funds that have been settled to your account.
The withdrawable balance is calculated in the following way:
Withdrawable balance = Available Ledger balance minus Proceeds from stocks sold yesterday & today minus Intraday equity profit made yesterday & today minus F&O profits today minus Accrued Interest minus Accrued DP charges minus required Margins (if you have taken any derivative positions) minus exchange accrued penalty minus any other charges as applicable to your account.
Please note that the withdrawable balance is computed after adjusting the margins blocked if you've pledged your holdings and raised margins to trade in the derivative segment with available cash balance:
50% of the margins blocked have to come in the form of collateral margins & the other 50% by way of cash or cash equivalent. If you do not have enough collateral margins to cover for 50% of the margin blocked, the difference will be charged from the available cash balance
Here's an example to help you understand better:
Assume, you have collateral margin of Rs 1 Lakh from pledged stocks after the required haircut. You also have Rs 70,000 free cash in your account and then take an overnight F&O position which requires a margin of Rs 1 lac.
In this case, you will be able to utilize up to 50% of the required margin using the pledged stocks i.e. Rs 50,000. The remaining 50,000 margin has to be covered by cash. This leaves you with a withdrawable balance of Rs. 20,000.
What if I have requested for an amount that is in excess of available clear credit balance?
If the fund payout requested is in excess of the clear credit balance, then the available clear credit balance will be paid out to your selected bank account.
The request for the balance amount will be in pending status for another 2 days and if there is clear balance available any time within the next 2 days of request, then the balance amount will also be paid out to you. If balance amount is not available within next 2 days of payout request then this request would be rejected.
You have clear credit of Rs. 50,000 on (T day) today and you have sold shares worth another Rs. 25,000 (T-1) yesterday. Now you make a payout request for Rs. 75,000 on T day. In such a case, Rs. 50,000 will be paid out to you next day (T+1) day before 11 a.m. and the balance amount will be kept pending and paid out on T+2 day.