Funds Settlement
What are the important points to be noted while placing a request to withdraw the funds?
Payout should be due as per exchange settlement norms. There should be clear credit in your account. You can withdraw the entire amount. If the withdrawal is placed before 4 PM between Monday to Friday, payout will be credited same day to the ...
Is there any minimum balance to be maintained in the account?
No, you can withdraw the entire amount if there is a clear balance available
How can I withdraw funds?
Click on the funds button in the bottom menu. Click on withdraw button. Enter the amount and select a bank account out of the registered banks. Click on withdraw amount to submit the request
How running account amount is calculated before releasing the final payout?
In case you have any open position on first Friday of the Month / Quarter on which settlement of running account of funds is scheduled, IIFL may retain funds calculated in the manner specified below: Outstanding pay-in obligation/Debit balance at the ...
Can client choose/change the Running account authority online?
Client can activate Running Account Authorization through Mobile App or TTweb For Mobile App-> Step 1: Click on the Hamburger Menu and then your client code Step 2: Click on view/edit details Step 3: Visit My Account> Profile > My Details Step 4: ...
What can client do to avoid the situation of payout?
Client can trade/invest in the account once in 30 days to avoid the situation of Auto payouts.
Can client receive amount through physical mode?
For the purpose of settlement of funds, the mode of transfer of funds shall be by way of electronic funds. Client can issue a physical payment instrument, only in cases where electronic payment instructions have failed or have been rejected by the ...
How fixed deposit from ledger will be treated?
In case you have opted for fixed deposit from ledger, any unutilized margin on the day of settlement payout will lead to liquidation of fixed deposit. Interest rate will be reduced based on tenor and Prematurity penalty will be applicable.
Will the running account amount be settled if client has an open positions?
If client has an open position in the derivatives segment, then the date of contract expiry or the date on which position is closed may be treated as the last transaction date, for the purpose of computing 30 calendar days for returning the credit ...
When will the running account amount be settled?
If you have opted for Monthly settlement, running account shall be settled on first Friday of each month. If you have opted for Quarterly settlement, it will be settled on the first Friday of every Quarter. If the first Friday is a trading holiday, ...
What is Quarterly Settlement or Running Account Settlement?
As per SEBI, the stockbrokers need to settle the funds lying in your trading accounts at least once in a quarter (90 days) or in 30 days as opted by you. This process of transferring unused funds back is called ‘Running Account Settlement’ or ...