Can I get bank CC limit for Equities trading account?

Hello,
Can I get a CC limit from a bank for trading in equities purely on delivery basis. I don't want to trade derivatives in this account. The CC limit that I wish is similar to the ones used by businesses.

Lets say, if I have Rs 5 lakhs of my money and Rs 10 lakhs of limit from bank then altogether I can buy equities worth upto Rs 15 lakh. If at any point of time I carry stock worth only Rs 11 lakh then I'm paying interest on Rs 6 lakh only that has been used by me and remaining 4 lakhs is with bank.

I want to link this CC limit to my trading account so that any used cash is automatically credited into my CC account. I don't mind doing the bank formalities required for a CC limit.

Is it possible?

Thanks,
Nitin

1 Like

Nitin, this won’t be possible. If you are interested, you can open a margin funding account through ILFS our DP partner and then get a loan to buy shares and the interests will be much lesser than what a credit card charges.

Thanks Nithin,
Can you please tell me more about it?

  1. How can I contact them? Where can I read more about it?
  2. What kind of interest rate do they charge?