https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9543919
Please tag some of the dimers who might be aware of this.
Loan for applying in HNI quota in IPO
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Is there any way to get an on-demand loan from the bank?
(similar to sweep-in type, but without actually doing any sweep FD)
- In most of the IPOs, we don't get the IPO and a large sum is blocked during that process.
- In some IPOs, we don't have enough money to apply for the HNI quota, but we want to apply for it.
So, I wanted to ask do you know any way to apply for an IPO without the money actually being present in the bank account? I can transfer the money to the bank immediately if the IPO is allotted to me, but meanwhile, I don't want to block the fund.
(similar to the margin that we get incase of F&O)
Also, post your trick/way of applying in IPOs.
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9543941
Nope, no IPO application without blocking funds.
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9543950
Some banks provide funding (Loan on interest) for IPOs.
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9543959
tappukepapa wrote:Can you add some links for references?Some banks provide funding (Loan on interest) for IPOs.
- What is the loan %?
- and when it will be charged? as soon as the money is blocked in the account or after the money is deducted on IPO allotment?
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9543963
Only way to take loan called ipo funding . You have pay interest on loan amount also from the day of application.
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9543982
Watcher wrote:Yeah, I just found out about this, and reading some related articles: https://www.motilaloswal.com/blog-details/how-d...Only way to take loan called ipo funding . You have pay interest on loan amount also from the day of application.
Looks like this is not a good choice. Anyone have any other tricks/way of applying in IPO
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9543986
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9543993
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tappukepapa wrote:Just search on Google, IPO funding. You will get an idea about it.
Yeah, reading about this.
8-10% interest is charged on that, but I am assuming 5-6% will be covered by the bank interest itself
So the effective interest will be 2-3% + application fees, right? or Am I missing anything else?
+ @Watcher
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9543999
I am applying for the last 10-15 IPOs in the HNI category and haven't got any allotment and a large sum of the amount is blocked due to IPO clashing dates. 🥹
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9544016
flash007 wrote:I am applying for the last 10-15 IPOs in the HNI category and haven't got any allotment and a large sum of the amount is blocked due to IPO clashing dates. 🥹
Basically it shows you are not HNI
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9544753
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9544823
guest_999 wrote:
Sebi doesn't allow it. The blocking is done to prevent false applications where the users wouldn't authorise UPI transactions leading to increasing number of invalid transactions/applications.
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9544839
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flash007 wrote:@Ramta_Jogi
Bro, I know that.
I am asking if anyone knows any work around to achieve this.
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9544957
flash007 wrote:I am applying for the last 10-15 IPOs in the HNI category and haven't got any allotment and a large sum of the amount is blocked due to IPO clashing dates. 🥹
Why so much addiction about the IPOs, when you are too unlucky to get the allotments?
Better do some investment in your skill development to get some job or business, instead of waiting for this lottery thing. You'll get better returns through that.
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9545118
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superdesi wrote:Why so much addiction about the IPOs, when you are too unlucky to get the allotments?
Better do some investment in your skill development to get some job or business, instead of waiting for this lottery thing. You'll get better returns through that.
why do you think that I don't have any job or business or I am not working on my skill development? 😂😂😂
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9545361
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Ramta_Jogi wrote:I was thinking more on the lines of some "ultra short term loans" of 7-14 days duration with decent interest rate.Sebi doesn't allow it. The blocking is done to prevent false applications where the users wouldn't authorise UPI transactions leading to increasing number of invalid transactions/applications.
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9545449
There's no trick
You have to pay interest for the day money is funded to your account [ 7 or 10 days be it ]
And you will need money in your account to apply and block it with asba
Take decision after calculating - I guess the Annual rate may be > 10%
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9545457
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9545624
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Ramta_Jogi wrote:I also, just read about it in comments on chittorgarh forum. In any case, I am not a big fan of such ultra short terms loans just for applying in IPOs.Never tried it.
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9545629
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9546474
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flash007 wrote:
So you keep balance in the saving accounts for applying in IPOs
You can take OD against FD.
Many banks allow instant opening and closure of such loans online.
Better option if you are selective in applying IPOs, i.e. Money remains block for less than half a month on average. Otherwise keeping funds in saving account is better
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9546481
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androgame wrote:Yes, I do that but applying in multiple ipos due to that a large sum is always blocked in the saving account.You can take OD against FD.
Many banks allow instant opening and closure of such loans online.
Better option if you are selective in applying IPOs, i.e. Money remains block for less than half a month on average. Otherwise keeping funds in saving account is better
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9547174
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flash007 wrote:I sometimes apply in retail IPOs for which 1 lot is never more than 15k so at any time not more than 30k lien in bank acc which also earn interest. If you are aiming for sHNI then you can keep 4-5 lakhs in SFBs like equitas or ujjivan & keep earning 5-6% interest on lien amt.
So you keep balance in the saving accounts for applying in IPOs
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9547745
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guest_999 wrote:each application of sHni is over 2L and 2-3 ipo are overlapping, so 6.5L will be blocked always
I sometimes apply in retail IPOs for which 1 lot is never more than 15k so at any time not more than 30k lien in bank acc which also earn interest. If you are aiming for sHNI then you can keep 4-5 lakhs in SFBs like equitas or ujjivan & keep earning 5-6% interest on lien amt.
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9549378
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flash007 wrote:On first 1 lakh you will get 3.5% interest, next 4 lakh you will get 5.25% interest & on incremental amt over & above 5 lakh you will get 7% so on 6.5 lakh you will effectively get 5.4% interest in Equitas bank.
each application of sHni is over 2L and 2-3 ipo are overlapping, so 6.5L will be blocked always
https://www.desidime.com/discussions/loan-for-applying-in-hni-quota-in-ipo?page=1#post_9549393
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