Buy Now Pay Later
Why client received intimation balance email notice? Client have purchased using BNPL?
The debit intimation is just to keep clients informed with the limit available in the account and also to avoid any kind of exchange margin shortfall penalty and squaring off the position.
Is Buy Now Pay Later (BNPL) the same as Margin Trading Facility (MTF)?
Yes, Buy Now Pay Later (BNPL) is the same as Margin Trading Facility (MTF).
What will happen if you sell Buy Now Pay Later stocks on the date of purchase?
The transaction will be treated as an intraday transaction instead of a BNPL transaction.
Can client pledge stocks purchased through "Buy Now Pay Later" for margin?
Since client have already pledged the BNPL stocks, margin pledge will not be available. To know more about BNPL in Mobile App, Click Here
Is there any maximum duration one can hold "Buy Now Pay Later" stocks?
You can hold your stocks for an indefinite period.
How client can pay up the funding for the BNPL service?
In order to close the funding (pay up so that interest is not charged), client have two options - 1. Sell the stock 2. Pay from trading ledger. Paying from trading ledger option will be available from the Funds page. Here client can select the funded ...
What are the charges for BNPL order?
After the BNPL trades are pledged, we'll charge an interest of 18.25% per year (or interest rate agreed with IIFL Securities) on the borrowed amount. The interest will be debited on a weekly basis. To explore more about BNPL in mobile app, Click Here
What if client don't pledge the BNPL trades?
The entire amount for that trade will have to be paid. The amount to be paid will either be debited from client's ledger or in case of insufficient balance, the stock will be auto squared-off on T +6 day. Interest will be charged on the remaining ...
How client can pledge the BNPL trades?
IIFL MARKETS APP - Pledge post order placement. This flow is shown to clients whenever, a BNPL market order is placed Step 1 - Step 2 - Step 3 - In a few seconds user will be redirected to the authorization screen Step 4- User must click on authorize ...
Is BNPL applicable to all stocks?
This order type is valid only for NSE Cash segment buy side orders and is not available for F&O segment, BSE Cash segment buy side orders and NSE, BSE Cash segment sell side orders. On the IIFL markets app you can check the stocks on which BNPL is ...
How to activate BNPL?
While placing the BNPL order you will see terms for Buy Now Pay Later service activation. Act of placing a BNPL order will be a consent for activating Buy Now Pay Later service. After the order is placed, BNPL service activation will be done in 24-48 ...
How to avail BNPL?
Client can choose the product "BNPL" and place a buy order. After that client need to pledge the stock to avail margin benefit.