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Samco Securities launches BTPT - Buy Today, Pay In Two days for Investors Buying Stocks

Posted On : 2020-06-03 13:40:57( TIMEZONE : IST )

Samco Securities launches BTPT - Buy Today, Pay In Two days for Investors Buying Stocks

Samco Securities Limited, one of India's leading discount stock brokers launched a revolutionary product called BTPT or Buy Today, Pay in Two Days today for investors buying stocks. BTPT is a facility that allows investors to buy delivery shares today by paying for only an initial margin and pay for the outstanding margin within 2 working days from the date of purchase completely FREE OF COST.

"Currently, most brokers insist on paying 100% upfront margins when clients buy stocks for delivery in the cash markets. This is despite the fact that exchanges follow a T+2 settlement cycle where only a part of the margin (usually 20-25%) needs to be settled upfront but the balance (75-80%) can be paid on T+2 days.

Once you pay 100% upfront margins for your stock purchases on T Day, investors stand to lose on the accrued interest for 2 days. This interest amount could be huge over a period of time. BTPT enables saving this interest which can be far more than zero brokerage on delivery." said Jimeet Modi, CEO, Samco Group on the launch.

As an example - In case a client wants to buy 2000 shares of a company at Rs. 500 per share on Trading Day, then he/she shall be required to put up approximately Rs. 200000 in margin on T day and the balance Rs. 800000 can be paid by him on T+2 i.e. the settlement day.

By holding the outstanding sum in your savings account for additional 2 days, investors can gain a good interest amount, thereby making BTPT product superior as compared to any brokerage-free trading model available in the market. Investors also benefit by utilizing their capital efficiently.

This facility is absolutely free for all Samco clients and is applicable to a select list of 300 stocks.

Source : Equity Bulls