Introducing the Revolutionary Buy Today, Pay in Two Days (BTPT) Product.

You can either choose to pay the initial margin for your shares with the UPI or Net banking payment option on the day of purchase. The same goes for the remaining sum.

You cannot transfer funds via the cheque payment mode as the amount may or may not be cleared by your banks within T+2 Days.

Yes. You can buy and sell the shares bought under the BTPT product type on the same day as the initial transaction.

You can choose the BTPT product type on any of the trading platforms in Samco to acquire the shares in delivery 2 days later.

On T Day:

• You can purchase the shares using the BTPT product type only for the shares mentioned in the margin list.
• You can hold your position in the BTPT product type till 3:30 PM of the same day.
• You can also choose to sell the shares on the same day as the purchase.
• You cannot convert the position of your purchased shares in BTPT to any other product type.

On T+1 Day:

• Your positions will be marked in BTPT carry forward within the trader application.
• You can choose to hold the shares or sell them on T+1 Day.
• You can choose to pay the entire outstanding dues for the shares on T+1 Day.
• On payment of the outstanding sum on T+1 Day, before 11:59 PM, your BTPT positions will be auto-converted to CNC (Cash & Carry) position on the next day by 9:15 AM.
• But you are not allowed to convert the BTPT carry forward shares to any other product type on T+1 Day.

Yes. You can sell the shareholdings under the BTPT product type but will be charged interest at the applicable rate for 1 day for the funded amount of the BTPT purchases.

Example If you buy 100 shares of Company X at Rs. 1000 worth Rs. 1,00,000 on Monday by paying an upfront margin of Rs. 30,000. And then you sell the stock on T+1 day at Rs. 1200 per share for Rs. 1,20,000. Then you shall be liable to pay interest at the applicable rate for 1 day on the funded portion i.e. Rs. 70,000 (Rs. 1,00,000 purchase value - Rs. 30,000 margin amount).

On T+2 Day:

• In case you have not paid off your obligation in full before trading on T+2 Day, your BTPT positions will be automatically moved from the BTPT carry forward type to the MIS (Margin IntraDay Square-Off) product type at 9:15 AM on T+2 Day.
• On payment of the outstanding sum before 3:10 PM on T+2 Day, you can manually convert your BTPT position (now MIS position) to CNC (Cash & Carry) position and choose to hold your shares or square it off.
• If you fail to manually convert the position (now MIS position) to CNC (Cash & Carry) position before 3:15 PM on T+2 Day, your positions will be automatically squared-off in intraday in accordance with Samco’s intraday RMS policy.

Yes. After full payment and acquiring the shares in delivery after T+2 Days, your BTPT orders can be converted to the CNC (Cash & Carry) order and you can hold the shares or sell it, as per your requirement.

No. Once orders are completed in BTPT product types, they cannot be converted into MIS (Margin IntraDay Square-Off) or CNC (Cash & Carry) thereafter, unless you pay the outstanding dues.

If you meet your outstanding payment obligation in full (not in part) on T+1 Day, before 11:59 PM, your positions will be auto-converted to CNC (Cash & Carry) position on T+2 Day. If you make the payment on T+2 Day, before 3:10 PM, you are obliged to convert your position from MIS (Margin Intraday Square-Off) to CNC (Cash & Carry) manually. The RMS team shall not be held accountable for the conversion of the BTPT carry forward position (now MIS position) to CNC position on T+2 Day, even after you make payment of the remaining sum.

No. You pay only the regular Rs. 20 or 0.2% per order (whichever is lower) while purchasing and selling the shares in delivery. The same brokerage structure is applicable to the BTPT product type as this is a delivery product, too

No. Loans against holdings are only eligible on clear holdings and shares bought under BTPT product type do not qualify as clear holdings. Only after receiving the delivery shares completely in your demat account, are you eligible to apply for the loans against your holdings.

No. Pledging on BTPT shares is only possible after acquiring the complete delivery of the purchased shares i.e. conversion of BTPT shares into CNC (Cash & Carry) shares. You are ineligible to pledge the holding shares before.

No interest is payable as long as you pay the delivery margin in FULL and complete your obligation before settlement time on T+2 day.

In simple terms, if you pay the balance on time, there is no interest obligation.

Interest shall only be levied in cases where you square off your BTPT positions on T+1 day or in case you are unable to pay off your margins and therefore your positions get squared off on T+2 day as MIS positions.

Yes. If you are unable to deliver the outstanding amount of the shares in delivery on T+2 Days (transaction plus 2 Days), you will incur interest of 0.05% per day on the funded amount of the BTPT purchase.

Also, upon defaulting the outstanding amount, your BTPT orders will be placed under the MIS (Margin IntraDay Square-Off) product type at 9:15 AM on T+2 day by the RMS team and will be considered as an intraday order, which will be subjected to auto square-off by 3:15 PM. Please read the RMS policy here.

Under the BTPT product, the upfront margin is collected for the trade when you place a buy order on T Day. So, no margin penalty shall be applicable with regards to purchase on T day. Customers shall have time till T+2 morning to pay the balance delivery margin.

Please note that the delivery of these shares shall be available in your Demat account only on T+2 day in accordance with exchange settlement norms. No stock would be available as free for sale on T+1 day and therefore it is not advisable to sell this stock on T+1 day. You should only sell your stock on T+1 in case you are unable to pay your delivery margin as on settlement date T+2. Selling your stock on T+1 will imply your inability to pay and we shall be compelled to report this as a short collection of margins that could attract a penalty. Any penalty on account of a short collection of margins for the failure of payment of delivery margin as implied by the sale of shares on T+1 day shall be levied to your trading account. Since the penalty applicable is hefty, it is advisable to not default on margin obligations.

In case the shortfall amount is less than Rs 1 lakh and < 10% of the applicable margin then the penalty is 0.5% of the shortfall amount. In case the shortfall amount is greater than Rs 1 lakh OR > 10% of the applicable margin then the penalty is 1% of the shortfall amount. Recurring defaults shall attract a higher penalty.

As per the Samco RMS policy, your positions will be considered for losses for a value of up to 80% (M-To-M) of your trading balance, beyond which, it will be auto squared-off by the RMS team.

If you purchase any shares in BTPT product type by paying the initial margin amount on Thursday i.e T Day, you can pay for the remaining amount on T+2 Days i.e. on Monday.

If the purchase of shares is on Friday i.e. T Day, you can pay the remaining sum by Tuesday i.e. T+2 Days.

Yes. Samco will send reminders for your outstanding payable amount via emails and SMS on the T+1 and T+2 Days. You need to fulfill the payment obligation before T+2 Days by 3:10 PM, after which, your positions will be squared-off by the RMS team as subject to Samco’s RMS policy.

Under the BTPT product, upfront margin is collected for the trade when you place a buy order on T Day. So, no margin penalty shall be applicable with regards to purchase on T day. Customers shall have time till T+2 morning to pay the balance delivery margin. Please note that delivery of these shares shall be available in your Demat account only on T+2 day in accordance with exchange settlement norms. No stock would be available as free for sale on T+1 day and therefore it is not advisable to sell this stock on T+1 day. You should only sell your stock on T+1 in case you are unable to pay your delivery margin as on settlement date T+2. Selling your stock on T+1 will imply your inability to pay and we shall be compelled to report this as short collection of margins which could attract penalty. Any penalty on account of short collection of margins for failure of payment of delivery margin as implied by sale of shares on T+1 day shall be levied to your trading account. Since the penalty applicable is hefty, it is advisable to not default on margin obligations. In case the shortfall amount is less than Rs 1 lakh and < 10% of applicable margin then the penalty is 0.5% of shortfall amount. In case the shortfall amount is greater than Rs 1 lakh OR > 10% of applicable margin then the penalty is 1% of shortfall amount. Recurring defaults shall attract higher