Can i pledge ELSS funds after completing lock-in period??
Theoretically it should be possible. But practically no. Usually the pledging backoffice platforms have a blanket ban on pledging of ELSS funds as they can’t figure which is more than 3 years or not. But I am adding this on our list of things to do.
@nithin has there been any update on this?
3 Year completed for even for to-do list
They are not allowed yet
A few days back, I had seen a tweet that mentioned about some of the ELSS funds being available for pledging. Currently, they have been removed from the list but likely might be added back. Maybe @Nakul might know about this.
The issue with allowing ELSS pledging is that the units have to be free. Most of them will have it under lockin and the pledge requests fail in such cases at CDSL. This makes it harder for us to complete the pledge process faster. Hence, we’ve not allowed ELSS pledging for now.
Any update on this now?
Those who have ELSS and units are more than 3 years old, then atleast those guys can pledge. Why restrict them? Allow them.
No, you won’t get margin against such pledge requests since the security is not an approved one for margin pledge. These can’t be repledged with the clearing corporation as well.
Also, what you are checking seems to be a regular pledge - LAS (Loan against securities), and not a margin pledge.