We have good news for all our users! Now you can get the margin INSTANTLY after you pledge the securities to IIFL. You don't need to wait for one day to get margin benefit after pledging securities.
As per the new streamlined process you will get instant margin as soon as the depository confirms the request of pledge.
Here is how you can create a pledge request:
1. Login to your TT web and go to Holdings.
2. Click on “Pledge Securities” button to open the Pledging page.
3. Select the DEMAT account (NSDL/CDSL) from which you want to submit your pledge request.
4. Once you click on “Create pledge to IIFL”, a pop up will appear and you will be redirected to the depository website.
5. You need to verify the details of the securities that you want to pledge and select the ISIN name as shown below:
6. Once the details are verified and checkbox is ticked, you will receive an OTP on your registered mobile number and click on “Submit” to submit your pledge request.
7. You will receive a confirmation message from depository that your request has been submitted.
8. On TT platform, you will receive Success pop up stating that the margin would be added into your account as soon as the request is confirmed by depository. You can instantly start trading with the added margin.
The margin will get updated in real time and you can instantly see the margin in your Margin Report under “Adjusted Holdings Value (AHV)”. However, sometimes it may take up to 15 minutes to update after confirmation from depository.
In case the margin does not get updated, you can view the status of the pledge request under “Order Status” tab.
Repledge can be initiated on the next working day post pledging the securities.
Note: Currently, this process is only available for POA customers. We are working to soon make this available for non POA customers as well. We will update you as soon as it is available.
Hope you find our new process interesting and continue trading with us. Happy Trading!!