@gpgane 50% hair cut is mandated by RBI, there is nothing much we or any other NBFC can do about this.
50% haircut for equity is good and safe for lender. As a customer I don’t prefer even it’s mandated by anyone.
Hi, Is the Loan against Mutual Fund option enabled?
Hi,
Can I unpledge my securities on a pro-rata basis, after making a partial repayment of my loan amount?
Thank You
Not yet, but will have this option soon.
This is partial unpledge option which we don’t support in the current version, Mohit. Its on the list of things to do.
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Thanks for the information! But it is my own money that I like to trade with. Taking a loan to trade or invest in something that I can’t do.
Loan against securities, a good initiative yet kind of sounds risky to me. Pledging the securities and getting loans is like a chain reaction. One goes well, everything goes well. One goes wrong, everything goes wrong.
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Hi @Karthik , Requesting you to replace and re pledging of stocks on this urgently . It is very risky for the zerodha capital customer . Partial de pledging and replacing option should be provided to customers because any person can be wrong in stock selection and the decision need to be rectified immediately to arrest the financial loss . When I am requested for replace and re pledging of stocks only option I am advised to close the account by repaying the complete loan which is very difficult in any point of time .
Please provide an work around for this .Otherwise I need to close the LAS relationship with Zerodha Capital
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I agree. Partial unpledging and replacement is mandatory. Its on the list of things to do, and we will put a workflow for this soon. Thanks.
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Hello,
Applying for loan against securities.Everything seems fine utill System got struck at the last step during the payment.
There is no message appearing for any wait time or so.
Could you please check if this process is working fine.
Hi @Karthik - I am an occasional user of this wonderful product. However, there still remain a few rough edges and a general sense that only a few at Zerodha customer service really know about the product.
The unpledging process is something that I do not get any clarity on. I paid off my loan but still my stocks havent been unpledged. Also, I got a message on my support ticket “But, the loan application has not closed the top-up disbursed.”- I do not even understand what this means.
I request your help on making this process easier and a little less anxiety inducing for clients. I also request your kind help in unpledging the stocks as it has been a while since I closed my loan.
You are right about this. We are working on patching things up.
Apologies for this. I’ll check your ticket. Can you please DM me your client id?
Hi Karthik, got a phone call from Zerodha capital. Very helpful. All is clear now- unpledged from Zerodha’s side today. Thank you!
Cheers!
Kartik, I was assured a swift unpledge experience by your team. I checked kite today and only some stocks in random quantities have been unpledged! This is extremely outrageous after a very strong reassurance from the team on the phone. Kindly request you to look into this.
Hello,
Surprised to notice that Cochin Shipyard and NHPC stocks not available in the list.
As mentioned by you “List is subject to change”, hope your team reexercise the approved list.
How is the progress with mutual fund pledging, and partial un-pledging? Anytime soon? Thanks! @Karthik
No change as of now. But I’ll note this down. Thanks.