Hello there,
We use TPIN for selling securities from our Demat holdings,
My question is, Is giving PoA to broker mandatory for availing of LAS facility from Zerodha capital?
As per the FAQ on Zerodha Capital website, PoA likely isn’t required -
What terms and documents do I need to agree for availing a loan against my securities?
There are mainly 3 documents which you would have to agree to to successfully complete your loan application:
- Term Sheet: A Term Sheet is an acknowledgement provided by you, with respect to understanding all the terms, policies, conditions with respect to each loan/disbursement availed, along with the details of the securities pledged to avail the loan;
- Master Loan Agreement: A Master Loan Agreement is a written contract between you & Zerodha, stating in detail all terms, conditions, and stipulations regarding the loan, and such future part loans/disbursements falling under the same sanctioned loan; and
- E-Pledge consent: An e-pledge consent is a feature provided by the depository, i.e. CDSL, that is
an OTP based mechanism, to allow you to pledge your stocks with Zerodha Capital and process a loan based on such pledged stocks.