Important- Advisory on PR 500 card and Interest charge on trade-related debit balances from Reliance Money received on December 10 2009
Dear Customer,
Please note that the PR 500 card is suitable only for Delivery trades. It is unsuitable for trading in the Futures and Options segment.
In case you have set PR 500 as your preferred card and trade in Futures and Options, your cost of trading may be higher due to assignment of multiple cards. Hence, it is advisable to change your preference setting to other cards if you trade in Futures and Options.
Illustration:
Trading limit available on PR 500 card is 2 Lakhs and Option volumes are debited from Limit Cards after adding Strike Price and Premium.
So, volume debited from your card for 1 Nifty Option trade of Strike Price 5000 and Premium of Rs. 10 will be as follows:
(5000x50) + (10x50) = 250000 + 500 = 250500- In effect, this will result in assignment of 2 cards for PR 500 customers for just 1 Options trade.
Charging of Interest on Trade-related debits:
We request you to note that interest will be charged on trade-related debits in your account. This includes debit balance on delivery transactions and debits against mark to market on Futures and Options segment. For Limit Card clients the interest charge would be applicable from 1st of January, 2010.
Interest will be chargeable at the end of day T in case of debits and will cease on the same day in case debits are settled by trading credits or credits from sale of shares.
The interest rate chargeable, are as follows:
Limit Card Clients - At the rate of 21% per annum.
Percentage Brokerage Clients - At the rate of 18% per annum.
Dear Customer,
Please note that the PR 500 card is suitable only for Delivery trades. It is unsuitable for trading in the Futures and Options segment.
In case you have set PR 500 as your preferred card and trade in Futures and Options, your cost of trading may be higher due to assignment of multiple cards. Hence, it is advisable to change your preference setting to other cards if you trade in Futures and Options.
Illustration:
Trading limit available on PR 500 card is 2 Lakhs and Option volumes are debited from Limit Cards after adding Strike Price and Premium.
So, volume debited from your card for 1 Nifty Option trade of Strike Price 5000 and Premium of Rs. 10 will be as follows:
(5000x50) + (10x50) = 250000 + 500 = 250500- In effect, this will result in assignment of 2 cards for PR 500 customers for just 1 Options trade.
Charging of Interest on Trade-related debits:
We request you to note that interest will be charged on trade-related debits in your account. This includes debit balance on delivery transactions and debits against mark to market on Futures and Options segment. For Limit Card clients the interest charge would be applicable from 1st of January, 2010.
Interest will be chargeable at the end of day T in case of debits and will cease on the same day in case debits are settled by trading credits or credits from sale of shares.
The interest rate chargeable, are as follows:
Limit Card Clients - At the rate of 21% per annum.
Percentage Brokerage Clients - At the rate of 18% per annum.
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