I have my trading account with reliance money and I found the following message on the website :
"Please 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, 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 T 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. "
Can someone explain me what are these trade related debits.
Thanks in advance.
"Please 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, 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 T 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. "
Can someone explain me what are these trade related debits.
Thanks in advance.