Within how many days should I make the payment for shares purchased by me?
After adjusting for cash margins available in your trading account, the entire value of purchased shares will have to be paid by 10:50 a.m. on the settlement day (T+1).
Interest @ 0.05% per day will be applicable from the settlement day (T+1) for the unsettled balance.
For example, Mr Rahul purchases shares of Asian Paints on Monday (T). Since trades in Asian Paints are settled on T+1, he will be required to ensure that the required funds are available in his trading account by 10:50 a.m. on Tuesday (T+1).
Interest on non-payment will be shown as an 'Interest on Overdue' charge in your account.