Comment on Zerodha - Margin Policies

Akash commented on 14 Apr 2014, 01:52 PM

Hi Nitin,
Thanks for the quick reply, Currently I am holding an account with diffrent campony demat account, I wasnted to verify the charges they are doing, so that I can close the account immdeialty if ther is any thing wrong.
On thursday(10th april) I had bought 700 shares of compony (per share is Rs 197) with NRML type , on same day I could not square off all the shares that I bought( in last minute I had kept sell order with market price, in which 363 shares transaction is not completed), When I check my linked saving account next day(11 th april) they have deducted around 12.5 k rupees from savings account, and next day I have sold the same shares with NRML type(363 which was pending from last day at Rs 198, I had called up customer care to know which type I should be selcting to sell the shares that are penidng on previous day, that asked me sell with NRML type),

however on next day i.e on Saturday from my saving account around 71.5 k rupees is dedcuted ( which I belive 197*363). Today since it is holiday for Bank and tradinng I could not connect to their customer service to know about the deduction.
My question was ,
1)What could be the amount 12.5 k which was dedcuted from savings account linked on first day
2) when I inquired couple of weeks back for NRML type, Cusomter service guys said if u dont sell shares on same day there will be some percentg of amount will be held (around 10%) , if so then next day why the complete amount 71.5k is again taken from savings account, why not around 59 k , if it converted to CNC (i mean 71.5 -12.5 = 59 k)
3)Since I have sold the pending 363 shares at the price of 198 ( (363*198 =71874) + 12500 = 84374), should I get the 84374 k amount back into my savings account by Tuesday/Wednsaday ?

I know it is long story , however I wanted to Confirm what they are doing is correct if not I need to close account immdiately to save my hard earning money.

Thank you in advance


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