Loan Against Securities (Beta)

[Karthik]

@UttamKumar

“Error code ERR003”

This is an error from CDSL, can you please retry applying?

[UttamKumar]

Hi karthik,
Thanks for your instant reply. I was getting this error code ERR003 on saturday (I had retried multiple times but the same error).
Then, when I retried it again yesterday (sunday), i started getting “Epledge request rejected” error. Yesterday, for all the 6-7 retries, i was getting the same “epledge request rejected” error.

Today, when i tried “apply now” from the zerodha capital, it takes me to my zerodha console dashboard page (instead of the loan page). So, I am not able to initiate pledge today.

[Karthik]

@UttamKumar

Today, when i tried “apply now” from the zerodha capital, it takes me to my zerodha console dashboard page (instead of the loan page). So, I am not able to initiate pledge today.

Hey Uttam, Console is going through a major upgrade (I’m sure you’ll love the new version) and the team is working non stop to make this smooth. Should be up and about in some time.

[sudheer_kumar]

Hi @Karthik sir,
would love to know the summary of the changes that you mentioned were coming to console.Any z-connect blog?

[yuvananda]

That’s some news right there. So now both Coin & Console are going to get major updates! I guess both will happen at the same time. Any ETA on this?

[Prayag]

I found a few threads which mention about the upcoming features in Console. Likely many of the features mentioned on those threads would be included in the new version of Console. Sharing the list of the threads that I could find -

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@Nakul

We’re working on the next version of Console in which we’re trying to make it easier to track your portfolio. Net payin and XIRR are already part of our list of things to do, which you can expect in the next version.

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@Nakul

Hey @Srini_Yarramsetty, this will be coming in the next version of Console, our team is currently working on. The reports are being cleaned up and all the relevant data are being added. The trading charges, which is currently available on the scripwise P&L sheet, will be made available on the tradebook as well for your perusal. The DP charges and all the other charges posted directly on the ledger will appear separately as other credits and debits as it isn’t really possible to apportion these costs at each individual trade level. We’ll keep you updated when we take this live.

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@Nakul

@curiousvi

2. I can see short term trades for all those scrips which I have bought and sold but I don’t see govt charges like STT on the scrips that are in my holding (have not sold yet) - How can I see govt charges of all the trades (equity delivery ) irrelevant I have sold them or not.

We had made the scrip-wise charges available on Console. Currently, we have disabled this feature for some optimizaton. We’re currently working on the next version of Console in which you’ll not only get the charges on the P&L, but you’ll also have tradewise charges on your tradebook.

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@Nakul

@ManoranjanS

Also, in Tax P&L Report, shares tendered in buyback needs to classified differently since these are taxed differently (0%) compared STCG & LTCG

We’ve made the required changes for this in the next version of Console reports. This will be taken live soon.

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@Nakul

Yup, your suggestions make sense. We are working on a new version of Console which will be launched soon with a lot of UI/UX developments and some exciting new features for analytics. We’re also cleaning up all the reports for this. We’ll make the necessary changes in the next version.

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@siva

Yeah, tagging for each order will come on our back office console soon.

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@Nakul

Hey @simhan, we’re launching a new version of Console in the next couple of weeks. The consideration of the P&L in foreign MF is done correctly, as mentioned by you, in our new reports.

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@Nakul

Some of the new features on Console v2 will include a daily digest to inform the customer about everything that’s happened in his account, and a feature for tagging your trades and generating the P&L based on the tags. You could potentially tag your trades based on the reason you took them and analyse what’s worked for you and what hasn’t. Unfortunately, we won’t be able to give you a timeline on this right now, but our aim is to take it live as soon as possible.

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@siva

We are working on new console version along with many other new features, will try to add in that.

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[lingamsetty_sandeep]

I wish to apply but , everytime it showing “NBFC server is unavailable. Please try after some time”.

[drasifbabu]

i am also facing the same problem
nbfc server not available try after some time

[Karthik]

Getting this checked. Thanks for pointing this.

[drasifbabu]

Almost 1 week over…still same… by when do u expect it to be resolved?
Is the problem faced by all?.. or only foor some?

[Karthik]

There were a few small fixes which were getting pushed, this is done. Request you to please t’row. Thanks.

[taran]

A really useful product. Thanks

[taran]

The bank only gives loan but Zerodha gives loan while the opportunity to wealth accumulation on the underlying assets continues. It will be helpful to compare the apparently low bank interest rate with Zerodha interest rate plus anticipated ROI during the loan period.

[drasifbabu]

Still the same… nbfc server is not available… Please try after some time.

[GaneshBommanaveni]

@Karthik , Is the 6th Point also applicable for Banks (Like for : Loans Taken via ICICI Direct, HDFC Sec ? ), If No, @nithin Can you pls allow 3 in 1 Account holders to take this loan against security online via IDFC First Bank. So that we don’t need to worry about the fluctuations in LTV value.

[Karthik]

@GaneshBommanaveni

Is the 6th Point also applicable for Banks (Like for : Loans Taken via ICICI Direct, HDFC Sec ? )

Thats right, LTV restriction is applicable to all lenders (banks and NBFC) lending against securities.

[GaneshBommanaveni]

@Karthik Can you pls Confirm the below… Suppose My Securities value at the time of loan is 2,00,000 (2 Lakhs) and I have taken a loan amount of 1 Lakh. Now after a few days the value of the securities decreased from 2 Lakhs to 1,10,000 (1 Lakh 10 Thousand) , In this case, Do I need to Worry about LTV OR No need to worry ? What happens when the value is at 1,10,000 (1 Lakh 10 Thousand Rupees) ?

[shreyansh_mehta]

Can I get the Loan which I can repay it as EMI. I ge benefit of liquidity use and reducing interest rates. Let me now because rest all works well

[pradeepjindal]

Hi Zerodha,
only trader do avail such facilities and being trader pledge and mtm both does not work.
only overdraft or loan is a viable option.

I am an equity positional trader hence pledging securities does not workout for me.
rather an over draft facility against my entire portfolio does better suite me and I believe being an NBFC you can for sure give me an overdraft facility or even personal loan
Is it possible that I have a 50 Lakh account value and you can give me a 20% loan/overdraft of its initial value
(amount should be fixed, not the mtm otherwise it beat the purpose if i have to cut my position when market dips 50%)
for a portfolio of 50Lakh even if market crashes like 2008 and 2020 then it would fall 50% yo 25Lakh and it is ok if you give me half of it say 10Lakh limit only (20% of total) but it should be fixed so that i can count on it.
Thanks, Please consider this.

[Nagendran_Krish]

Can the capital from loan against securites be deployed in share market like F&O trading and the interest payment be offset as expense from the profit?