Loan Against Securities (Beta)

[Karthik]

@rahul1777

@Karthik how much money you make in your entire career as trader😜

Just enough to feed my family

[MayankMaheshwari]

@Karthik is this interest rate linked to market like RBI policy rate?
Unsecured Personal Loans generally seem to start at 11.25% pa, any reason why does LAS loan not have much lower rate than that given it is secured? Just curious…

[Karthik]

@MayankMaheshwari

is this interest rate linked to market like RBI policy rate?
Unsecured Personal Loans generally seem to start at 11.25% pa, any reason why does LAS loan not have much lower rate than that given it is secured? Just curious…

@MayankMaheshwari, all interest rates in the economy are linked to the policy rate, either directly or indirectly. Add to that the firms own cost of funds. LAS comes with additional market risk which needs to be considered.

[RahulKhanna]

@rupeshmandal

Jio Financial Services is already established. If you guys think, regulatory can’t allow this and that, then Jio would buy out the loss-making second competitor in the market (it won’t buy Zerodha) and make things happen. I am not even talking about the tech leadership of Facebook and Google (since they are investors) to help build products and kill-competition pricing strategy.

My god, dude, stick to HDFC sec and stop spamming this forum with your pointless suggestions. Jio Financial services -lol. This is what happens when you think you know everything but know nothing. Mod’s can someone put this account on hold or something, kinda ruining a lot of threads.

[nithin]

@rupeshmandal

CTO Kailash Nadh needs to wake up and smell the coffee, and @nithin please get over from the hangover of photoshoots for Forbes and being called a unicorn.

you seem to be in a good mood today.

I can’t be justifying what we do or not do as a business on a public forum. But one thing I do understand that if we don’t innovate, someone is going to disrupt us for sure. If there are any personal suggestions, maybe you could just message me instead of putting it up for everyone to see. I don’t see a point in you doing it, other than of course you know for what.

And btw most of your suggestions are around helping you manage your float(faster access to money, etc), and those aren’t even on my list of things to do as I think that isn’t even a real problem today. Of course, you will disagree with it, but yeah, you are free to go chose a broker who wants to solve these problems for you.

[Prakhar_Agrawal]

@RahulKhanna

Mod’s can someone put this account on hold or something, kinda ruining a lot of threads.

@siva-reddy generally I don’t prefer to do this but yeah the above mentioned user is quite disturbing. [quote=“rupeshmandal, post:51, topic:95846”]
CTO Kailash Nadh needs to wake up and smell the coffee, and @nithin please get over from the hangover of photoshoots for Forbes and being called a unicorn.
[/quote]
Does making these kinds of comments on Zerodha employee and CEO admissable in this forum?
Yes there are lot of things which I/we don’t agree but how is making these kind of statements relevant.

[TradeB2B]

@Karthik we need margin funding when you will launch thats a good product , ICICI is charging for margin funding is 8.5 %

LAS for emergency expense
MAF for any big decline in market for emergency we can invest , i like MAF product rather then LAS
any idea

[gaurav_choudhary]

for a non salaried person what documents need i submit like ITR etc…or this is completely based on shares? @ShubhS9

[ShubhS9]

@gaurav_choudhary

for a non salaried person what documents need i submit like ITR etc…or this is completely based on shares?

This loan is based on shares.

[rupeshmandal]

I would begin with a Kabir’s saying for all those criticizing me here -

निंदक नियरे राखिए, ऑंगन कुटी छवाय, बिन पानी, साबुन बिना, निर्मल करे सुभाय।
If someone shows a mirror and the face looks ugly, the mirror is at no fault. The problem is with the face.

@nithin

But one thing I do understand that if we don’t innovate, someone is going to disrupt us for sure.

At least we agree on something.

@nithin

If there are any personal suggestions, maybe you could just message me instead of putting it up for everyone to see.

I have messaged you in-person time and again. There is a separate thread that runs between us. I will do that again as I have done in the past. But sometimes somethings need to be told in public in a different way. I am sure the message has been received by the entire team. Even if the community decided to flag it down, the purpose is served.

@nithin

I don’t see a point in you doing it, other than of course you know for what.

No, I don’t know and I didn’t get this part. Maybe you can help me understand in those many words. I don’t want to play a guessing game.

@nithin

And btw most of your suggestions are around helping you manage your float(faster access to money, etc),

I disagree with you here. It’s not about free float or even money. I have always shared suggestions to unlock "value for investors”. Value, that’s what I always seek. I actually went back in my activity history to pull out some of the other suggestions I had made in the past (3 years to be precise. Yeah! it’s been 3 years with Zerodha and many things are yet the same hence the outburst) to brush up your memory. They are:-

1. Remove monthly coin charges. And you did it.

2. Copywriting 101 to not sell SGB with a bias calling it the “best" option to buy gold. My only suggestion was to be neutral as a platform and not colour investor’s minds.

3. More details about SGB Codes which you recently mentioned on a different thread that you would do something about it. I had also mentioned the Fundamentals of SGB are showing nothing. To provide data for that. Nothing on that yet.

4. Coin cut-off timing to be in sync with SEBI guidelines. To stay fair to the investor by complying with SEBI cut-off timing. Though you never commented on the righteousness of my ask, but Zerodha Support responded they are working on it. Still waiting for it to be resolved. Ticket #20200921976293

5. To apply for IPO through UPI, the window is available from 10am - 5pm. Had suggested to show information about Bank ASBA method if an investor visits the page beyond that 10-5 window so that an investor knows he can still apply in an alternate method and doesn’t miss applying for IPO. Not everyone knows that method. It was shot down by team.

6. ETF/ Index Fund ELSS by Zerodha AMC. So investors can invest in ELSS fund with the lowest TER and it helps Zerodha also to get a bigger AUM. Win-win. The same fund can act as a retirement fund as well. Even better.

7. OTP/ fingerprint login. So investors can log in easily. Implemented.

8. Better data representation of Console Holding so investors can make an informed and better decision. Status: Incomplete, partially done. FYI, I log in to Kuvera to fetch my CAMS data and check my Coin MF analysis. They have a better representation of Mutual Funds data. Also, the tax calculation is correct there.

9. Show total margin required while buying/ total amount receivable while selling. Status: Partially done.

10. Holdings segregated as baskets. WIP.

There are many more. But I hope this would suffice and negate your comment on my suggestions.

@nithin

you are free to go chose a broker who wants to solve these problems for you.

I switched from HDFC Securities to Zerodha only because I could see that I can contribute to making it better e.g. suggestions above. The day people like me stop sharing and become indifferent is equally bad for Zerodha. And then how people living in a bad marriage cheat and then finally quit, that’s what would happen. No one to blame, just that expectations don’t match. Until then one tries to live in that marriage and make it work until patience runs out.

[Karthik]

@TradeB2B

we need margin funding when you will launch thats a good product , ICICI is charging for margin funding is 8.5 %

This is on our the list of things to do. Hopefully soon.

@TradeB2B

MAF for any big decline in market for emergency we can invest , i like MAF product rather then LAS
any idea

Can you please expand MAF for me? Thanks.

[Karthik]

@gaurav_choudhary

for a non salaried person what documents need i submit like ITR etc…or this is completely based on shares?

No documentation as such. We need basic KYC details, which we fetch from the portal, plus we need FATCA declaration from you. Everything is done online and takes about 10 minutes to complete the process.

[Bhavik_Kothari]

Are there any options for someone who wants to buy delivery (not F&O) with intraday margin (can transfer full funds before 3.30 pm)?

[PratikThakkarCO]

@Karthik

haircut of 55%

Is the haircut % mandated by regulations? OR an internal risk call?
I am wondering - will it be better to have a variable haircut depending on the market cap OR volatility of the stock?
Ofcourse, for simplicity sake - a blanket haircut % does make sense.
But would like to know if you have considered this already? Thank you

[Karthik]

@PratikThakkarCO

Is the haircut % mandated by regulations? OR an internal risk call?

Mandated by RBI

[Dr.Jimmy_Patel]

Can I take a loan against my PLADGE share holding 5 lac?

[Karthik]

@Dr.Jimmy_Patel

loan against my PLADGE share holding 5 la

Yes, you can.

[AG_1984]

@Karthik , Can you let me know what are the documents I need to provide so that I can take Loan Against Securities from Zerodha?. I have dmat account with zerodha . I raised a support ticket #20201207584388 for that few days ago but have not received any reply yet.

[siva-reddy]

Missed that, you should get reply via ticket.

[sandeep_reddy_muriki]

Will i get margin for trading as well as loan against same pledge?