Cos Kotak as usual comes up with this in fine print:
About the Product: Online clients can subscribe to this product by paying annual subscription fees of Rs.999 plus taxes, renewable yearly.
Client can subscribe to FIT by paying an annual subscription fees and can do Intraday trading of any value during the year. (Only Nominal brokerage of 1 paisa per scrip traded will be levied)
Clients will be provided access to Research recommendation
The product is valid only for self-generated intraday order in Cash & Equity Derivative segments. A Self-generated intraday order is one in which both the buy and sell leg order are placed by the client directly on the trading platform provided by Kotak Securities Ltd.
Applicable For :
a) Indian resident customers having online trading account
b) Franchisee clients having online accounts
NOT Applicable For:
a) ODIN Diet clients, NRI, QFI
b) Currency derivatives & commodity trade
c) Super Multiple, Derivative plus & Option plus orders
An annual fee will be charged at the time of opening the account or activating the product.
This is an auto - renewal product. It will be auto renewed at the expiry of tenure of original subscription unless it is unsubscribed. Upfront subscription charges will be levied annually post the end of agreed subscription period. Also, an Auto renewal intimation shall be sent before the expiry of this product and client can choose to unsubscribe any time before auto renewal without incurring charges. To unsubscribe simply logon to www.kotaksecurities.com > New Product > Free Intraday Trading (FIT) > Unsubscribe
Failure to pay the annual fee plus applicable taxes within 30 days of charging shall disqualify the client from availing this product.
Brokerage of Rupee 0.01 shall be charged for Self-generated intraday orders in:
a) Cash segment at a scrip level
b) Futures & Options Segment at the underlying-Expiry contract level.
c) In addition, all statutory & other charges shall be charged as applicable.
Delivery brokerage would be charged as agreed with the client
Brokerage rates applicable at the time of expiry or un-subscription of FIT services will remain unchanged. Benefit of Free Intraday Trading will discontinue upon such expiry Or Un-subscription.
In case of discontinuation / transfer of plan / change in brokerage charges / closure (by the clients) / suspension / termination, the product fees plus applicable taxes will NOT be reversed in full or part.
Position which gets squared off through expiry/exercise or assignment of contracts on the same day, will be considered as client traded & this will be treated as eligible client self-generated intraday order.
Liquidation of positions for meeting margin deficiencies by Kotak Securities Ltd shall not be considered as self-generated intraday order by client.
Volume generated under Free Intraday Trading plan (FIT) will not be clubbed with all other offer/plan.
This T&C is to be read in conjunction with the terms agreed by the Client while opening the account.