Relaince Money - Confusion

[buntyindia]

I talked to a Relaince money Representative


1) Brokerage charge: 1 paise per transaction , irrespective of the transaction amount. Both for Buy & Sell. He said this 1 paise includes all Service Tax, Education cess etc.

2) 0.125% SEBI Security Transaction charges inorder to take delivery of (or hold) the shares. This he said is a SEBI charge common to all and there's no escaping it.

3) Apart from that they have a Rs 500 coupon valid for a year for the transaction of Rs. 5lac. and Rs 50/ p.a. for demat account maintenance.

But this cost to me 500/500000 = 0.1 Brokerage that is 10 paisa. which is high then they are claiming that i have to pay only 1 paisa ..

Or I am calculating wrong

I am confused what they are offering

can u put some light on this


Regards,

 

[nagakiran]

I remember 500/- coupon has a validity of only 2 months not one year and it gives a turnover limit of 1 crore and user can take maximum delivery of 10 lakhs.

Can anyone confirm whether they added a new 500/- coupon with 1 year validity and reducing turnover limits??

 

[amitce68]

Yes It is there

 

[sand_9876]

Dear bunty,

Rs. 500 for Rs. 500000/- investment comes to Rs.0.001 .

I think u to recheck the calculation.

Regards,

Sandesh

 

[lovetowatchx20]

but they are selling share from dp account without telling .. they are cheaters... and service is poor . and so many bad things about it . if you peoples check reliance money u will be in totally lost . so please dont consider cheap brokerage . they will rip off huge amount money

 

[buntyindia]

but they are selling share from dp account without telling .. they are cheaters... and service is poor . and so many bad things about it . if you peoples check reliance money u will be in totally lost . so please dont consider cheap brokerage . they will rip off huge amount money

lovetowatchx20 How can they do this ? You can report this to SEBI.

sand_9876 see the following calculation...
500
--------- X 100 = 0.1
500000

 

[lovetowatchx20]

They Had Done This To Me

 

[buntyindia]

Then u shold tell this to SEBI & Consumer Court & expose them....

 

[paisewala]

I remember 500/- coupon has a validity of only 2 months not one year and it gives a turnover limit of 1 crore and user can take maximum delivery of 10 lakhs.

Can anyone confirm whether they added a new 500/- coupon with 1 year validity and reducing turnover limits??

It is better to get the answers from the horse's mouth. You can get your query resolved from Reliance Money itself. They deal in a variety of products like Equity, Mutual Funds, IPO, Personal finance and Offshore Investments. YOu can visit their site www.reliancemoney.com which provides relevant information on our products.

Alternatively, you may type MONEY and send a SMS to 56636. Their representative will call you and provide the desired information.

 

[arunstar]

Apart from the 500 coupon plan for 2 months, Reliance Money provides 500 coupon plan with time validity of 12 months and turnover limit of total 5 lacs.If you need any further clarifications, you can call Reliance Money at 022-39886000 or write to us at [email protected] .

Regards,

Reliance Money