Zerodha....

[murthyavr]

You could try opening a zero balance account with HDFC Bank.

But..

.. there is a rider attached!

The eligibility conditions are mentioned (on the same web page) as under:

------------------------------------------------------------------------------------------
Eligibility Criteria

Customer can open a No Frills Savings account if he:

Does not have a bank account & has an annual income of less than or equal to Rs. 50,000/- or

Does not have a bank account & is a beneficiary under a Government Welfare Scheme
-------------------------------------------------------------------------------------------

I was just wondering how these banks are willing to open No Frills accounts just like that!

 

[newbie12345]

But..

.. there is a rider attached!

The eligibility conditions are mentioned (on the same web page) as under:

------------------------------------------------------------------------------------------
Eligibility Criteria

Customer can open a No Frills Savings account if he:

Does not have a bank account & has an annual income of less than or equal to Rs. 50,000/- or

Does not have a bank account & is a beneficiary under a Government Welfare Scheme
-------------------------------------------------------------------------------------------

I was just wondering how these banks are willing to open No Frills accounts just like that!

Great catch. Looks like a new bunch of rules have been added or maybe they are just overlooked if you approach them. I find it rather strange because my friends RM had opened a zero balance account for him with HDFC bank around last year end. The guy in question has an annual income of over 10 Lakhs.

 

[bipin61]

Re: Is HDFC or AXIS's performance same in payout @nowonline.in

I have same question as Newbie Day-Trader.
Is the performance with both bank HDFC Bank & Axis Bank same (instant & free) for payin and payout with nowonline.in?
Or HDFC better?
I have a/c in both bank but personally prefer AXIS.
As we can set only one bank for payout, which will be best or both same?

zerodha, pls answer this whenever possible. Thanks in advance.

I can tell you my experience with Axis Bank and Zerodha. On the 29th of September I put in a payout from Zerodha to my Axis Bank account between 1.00-2.00 pm in the afternoon. By all logic and their own commitment it should have been credited by evening.The funds were credited to my account the next day.
In the light of my experience, Hdfc Bk would be more sensible.Not that the problem is with Axis Bank.But probably Zerodha is more comfortable with Hdfc Bk.

 

[bipin61]

Re: Is HDFC or AXIS's performance same in payout @nowonline.in

I can tell you my experience with Axis Bank and Zerodha. On the 29th of September I put in a payout from Zerodha to my Axis Bank account between 1.00-2.00 pm in the afternoon. By all logic and their own commitment it should have been credited by evening.The funds were credited to my account the next day.
In the light of my experience, Hdfc Bk would be more sensible.Not that the problem is with Axis Bank.But probably Zerodha is more comfortable with Hdfc Bk.

Oops jumped the gun,my apologies. The issue is explained here in detail by Zerodha.

Payouts, We can process payouts only once days trading is done... Final processing happens between 6 to 7 pm everyday and hence we say that we will process the withdrawals after that...So even if you put the withdrawal early in the morning, we will process it only by 7pm.... Here is the tricky bit, the last NEFT transfers for the day from RBI is done at 9pm, if there is a big queue they push it to next day morning.... Any of our client who has hdfc bank account will vouch for the fact that the funds come in the same night, as it is an intra bank transfer(we bank with hdfc)!!! for inter banks I could share with you documented proof on what time NEFT is executed at our end, once we have done our bit, you need to understand that we will have no control on how fast it hits your bank account!!!!! It is then upto the bank and RBI....

Self explanatory.Hdfc Bk is the way to go, without a doubt!.

 

[Shailu]

in 1 lot of nifty margin or in 35000 rs how much lot zerodha can provide for intraday trading. And any charting software for mobile provided by zerodha?

 

[shekharinvest]

Ok, I'm thinking of opening an A/C with either HDFC or Axis......so which one would be better.....any advice on this?

I'm thinking HDFC.......but is it true that HDFC keeps bugging us to keep 30-40K? (looking for more experiences from other traders with HDFC) -
http://www.traderji.com/brokers-tra...ing-zerodha-client-services-3.html#post573281




Is this really true! If so, that's fantastic
http://www.traderji.com/brokers-tra...ing-zerodha-client-services-2.html#post572969

I have an account (infact two) with HDFC Bank for the last 4-5 years. It has been a pleasant experience so far. :thumb:

I am surprised that I didn't receive a single call in so many years, even when the balance was as low as 5k and not much financial activity in the account in those days ( remember 2008 meltdown when traders became investors, atleast new ones like me)

I hope HDFC ppl are not reading this and start making calls ! :rofl:

SHEKHAR

 

[shekharinvest]

Great catch. Looks like a new bunch of rules have been added or maybe they are just overlooked if you approach them. I find it rather strange because my friends RM had opened a zero balance account for him with HDFC bank around last year end. The guy in question has an annual income of over 10 Lakhs.

Zero Balance account and No Frills accounts are as different as cheese from chalk.

At ICICI I had a Zero balance account. where they charged Initial account opening charges something like Rs. 3000+ and then annual charges. You are not required to maintain any balance in this account but avail all the banking facilities like multi city cheque / cash deposit in any branch / issue of DD etc..

Whereas, No frills account is for poorer section of the society and help them to integrate into the financial system. Not much facilities as extended in these accounts. A plain account to deposit money and withdraw the money with passbook facility.

SHEKHAR

 

[mku]

Which mobile your are using to trade through zerodha/NOW? Kindly give make, model number, OS version and your experience with the software. If any time you installed any additional applications to support your trade, kindly let us know here. I am very badly need it. My interest is android mobile with qwerty keypad. Pl advise. This info will definitely useful for many of us.

Thanks, bye

 

[Newbie Day-Trader]

Thanks everyone for sharing your views & experiences.......so it seems that consensus is HDFC.....so HDFC it'll be

I have an account (infact two) with HDFC Bank for the last 4-5 years. It has been a pleasant experience so far. :thumb:

I am surprised that I didn't receive a single call in so many years, even when the balance was as low as 5k and not much financial activity in the account in those days ( remember 2008 meltdown when traders became investors, atleast new ones like me)

I hope HDFC ppl are not reading this and start making calls ! :rofl:

SHEKHAR

So what is the "name" of your A/C(s)? (you know like they've these names/schemes like "no frills A/C", etc etc; what is your A/C called?)

 

[steveakinsola]

Which mobile your are using to trade through zerodha/NOW? Kindly give make, model number, OS version and your experience with the software. If any time you installed any additional applications to support your trade, kindly let us know here. I am very badly need it. My interest is android mobile with qwerty keypad. Pl advise. This info will definitely useful for many of us.

Thanks, bye

Hi Mku,
I'm using LG Optimus P500 (http://www.gsmarena.com/lg_optimus_one_p500-3516.php).
It comes with Android Froyo Version, but you can upgrade to Gingerbread by visiting the LG Customer Care.

My trading experience is Excellent on this mobile.
No additional applications required to support the trade. Just install the NSE Mobile software from Android Market. That's it.

It does not have Querty keypad, but without it, I'm able to trade smoothly.

Hope this info helps.
Happy trading to you all...