What are the interest charges in CashPlus?

What is CashPlus?

Samco offers a host of leverage products to investors and traders, one of them is CashPlus. CashPlus enhances your equity delivery buying leverage.
CashPlus is Samco’s equity delivery leverage product that allows investors to get up to 4X margin against cash in over 400+ stocks for equity delivery trades. In simple terms, if you have Rs.1,00,000 cash balance in your Samco ledger account, you can buy stocks in delivery for up to Rs. 4,00,000 with a CashPlus subscription.
You can carry forward your delivery trades ad infinitum as long as your margins remain within the prescribed limits.

What are the charges for CashPlus?

There are two types of charges in CashPlus:
Subscription charges: You can subscribe to CashPlus at Rs.1000/year from Samco Star Backoffice.
Interest on Leverage: An interest of 0.05% is levied on the debit amount of the ledger.
For example: If you have a cash balance of Rs 10,000, and using CashPlus you bought a delivery position of Rs 30,000, wherein Rs 20,000 is given by Samco as leverage. So, an interest of 0.05% per day will be levied on 20,000.

Narrations

Dr. Cr. Net

Opening balance

0 10,000 10,000
Purchased delivery position using CashPlus leverage 30,000 0

-20,000

CashPlus interest ( 0.05% on debit amount ) 10 0

-20010

To experience 4x equity delivery leverage with CashPlus, open a Free Samco demat and trading account today. Interest is charged for all days including holidays. You can clear the debit amount by infusing fresh funds from your bank and selling securities.

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