Are you active in delivery trading with Samco? Does it become impossible to execute the trade because of less money available in the account? Then here is the good news for you all! Now you can trade more with Samco BTPT.
Wondering what is it and how it helps you to trade even with the lesser fund?
Well! here we are with a complete detail about the product, but before heading towards Samco BTPT, let us have a sneak peek at Samco.
SAMCOVentures Private Limited is an online discount stock brokerbased in India and was founded in March 2015. Jimeet Modi, currently CEO of the company, founded the company. SAMCO provides Demat services as a CDSLDepository Participant through its membership.
SAMCO offers Demat services through its membership with the depositories of India. Along with this, it is registered with NSE, BSE, MCX and NCDEX thus offers options to trade in different segments like:
In all significant stock exchanges and commodities in India, SAMCO Securities Ltd is one of India’s largest discount brokerage companies which is included in BSE, NSE, MCX-SX, MCX, and NCDEX.
After knowing Samco in brief, here comes the time to know about Samco BTPT.
What is Samco BTPT?
Samco BTPT refers to Buy Today, Pay in Two Days, which is a Samco product that in delivery trading allows you to pay for your desired stocks in 2 days from the day of purchase.
If you buy the shares with the Samco BTPT product type, the fraction of the original margin is to be paid by you, and the rest of the sum can be settled within two days from the purchasing date.
Here it is important to note that you can avail the benefit of Samco BTPT only to trade in equity cash segment.
You cannot avail the facility of product i.e. Samco BTPT in the following segment:
Samco BTPT offers the BTPT margin calculator through which you will get the margin percentage and leverage of the particular stock.
For example: 3MINDIA has a CMP of 21378.1 and is provided the leverage of 2.5x, and then it has a margin of 40%. You’ll get the full margin by clicking on the “Calculate” button.
Samco BTPT Registration
To avail the benefit of Samco BTPT, it is essential to have a Samco demat account. The account opens a gateway for you to trade in Equity segment. Since the BTPT product is only available for the equity cash product, while opening the account make sure you choose the right trading segment.
Along with this, to avail the benefit of the product the client has to undergo the valid POA process in order to transact in shares in the BTPT product type.
If you have not submitted the Samco POA form, then you can apply now by downloading the form from the website (Starbuck official website) and send the form to the registered head office address after filling the required details.
In all, for Samco BTPT registration, you have to fulfill two major requirements:
Open Samco Trading and Demat Account
Apply for Samco POA
Once you are done with this, you can avail the benefit of trading even if you have less fund.
How to Place BTPT Order in Samco?
Since BTPT order is all about paying the initial margin at the time of purchasing a stock and paying the rest of amount after 2 days.
Thus, it helps you to gain a good interest amount and in diminishing the value of brokerage paid for the delivery transaction. Apart from this, the delivery trading with BTPT product gives you the freedom to utilize the money in the way that fits best for you.
To get a better understanding of the concept, let’s take an example.
Let’s suppose you bought a stocks of value ₹1,00,000 on Monday which had a 20% upfront margin ratio i.e. 20,000. Here you still will be able to hold the outstanding of 80% i.e. ₹80,000 in the saving account for two more days. This outstanding amount generates the interest of 6% p.a.
Now to place BTPT order follow the steps given below:
Choose a BTPT product form in the drop-down list for Samco BTPT on the Stocknote trading platform including its mobile app and web app, or Nest Trader desktop app.
After choosing an option, fill in the share’s quantity, its price value, and click on SUBMIT button.
Post this pay the initial margin and the reap the leverage of paying the rest of money after two days.
Samco BTPT Benefits
Making use of the margin and other facilities of broker allow traders to trade more even if they do not have enough funds in their pocket.
Similar to this, Samco BTPT offers many benefits to traders and investors who are looking ahead to earn more profit and returns on investment. Some of the major benefits of the Samco BTPT product are:
On delivery trading, it offers two days of leverage, which is interest-free.
It saves interest on capital
The product has no hidden and subscription charges.
Available for the Indian Samco clients.
SAMCO is an increasingly rising online discount stock broker driven by technology in India. Samco has SEBI, NSE, BSE, MSEI, MCX, and NCDEX registrations.
Samco BTPT refers to Samco product, Buy Today Pay in Two days, which allows you to pay for your required stocks within two days of your purchase date in the delivery trading process.
For opting the Samco BTPT, you will have to fill in the options and then submit it by paying the initial margin sum.
Samco BTPT Frequently Asked Questions
1. Can I buy and sell shares on the same day under BTPT?
If you are into intraday trade, even then you can buy or sell shares using the Samco BTPT product.
2. What happens to the shares bought using the BTPT product on T+1 day?
One day after trading following things will happen with the shares:
The share you bought will be marked in the BTPT carry forward.
Here you can choose either to hold the share of to sell it.
Also, you can opt to pay the outstanding dues for the share on the T+1 day.
If you pay the outstanding amount before 11:59 PM on T+1 day, then your BTPT position will be converted automatically to CNC position on next trading session.
Apart from this no other option is provided to you to convert your order in any other order type.
3. What happens to the shares bought using the BTPT product on T+2 day?
Similar to the first day after buying stock, certain things need to be considered on the T+2 days.
Some of them are:
In case you have not paid the outstanding amount on T+2 day, then BTPT position will be automatically converted t the BTPT carry forward type to the MIS (Margin Intraday Squareoff) product on the T+2 day at 9:15 AM.
If the outstanding amount is paid before the trading session ends on the T+2 days then you can convert your BTPT position to CNC position manually. Also, you can choose to hold the shares or squaring off within the same day.
In case, you fail to convert your position manually before 3:15 PM on T+2 day, then your share get squared-off automatically as per the Samco intraday RMS policy.
4. Do I have to pay any interest against the outstanding balance to avail the BTPT product benefit?
Samco BTPT trading does not charge any interest as long as you pay the full or complete amount before the settlement time. Thus, paying the outstanding amount on time prevent you from paying any interest.
5. What happens when you don’t pay for shares on T+2 days?
If you are unable to deliver the outstanding amount on T+2 day then you are levied with the interest of 0.05% per day on the funded amount.
Avail the margin facility, by opening demat account.
To open a demat account for free, fill the form below and the callback will be arranged!