Flexi cash (FAQ)

What is Flexi Cash?

Flexi Cash is a feature offered by ICICIdirect.com to its Cash product customers where you can buy stocks by paying partial amount (say 11 to 31%) of funds and bring the remaining funds later at the time of settlement but not beyond next 365 calendar days in case of both NSE and BSE to take delivery of your transaction. Till such time your position will remain with I-Sec as Pending for Delivery.


How do I know how much funds are required for placing the Flexi Cash order or taking position?

The percentage of funds required for placing the Flexi Cash order or taking the position is displayed on Stock List page .You can visit the Stock list to see the percentage required for the stocks under sub-column Flexi Cash/Client Mode under Margin/Flexi Cash column.


Can I take Flexi Cash order or position in any stock ?

No.This facility is enabled for over 140 stocks. You can visit the Stock list to see the stocks enabled for Flexi Cash and the Margin % required for the stocks under sub-column "Flexi Cash/Client Mode" under "Margin/Flexi Cash" column.


How can I identify flexi cash orders and positions ?

Your Flexi Cash orders and or positions will be reflected with 'Client' under the Square off mode column on the online Order Book or Margin Position page (on T day) and Pending for Delivery page after T day upto T+365 calendar days in case of both NSE and BSE.


Where can I see my position on Transaction (T) day?

On T day you can see your position by visiting the 'Margin Position' page under the Equity trading section of your account on www.icicidirect.com.


Where can I see my position after Transaction (T) day?

Your position can be viewed on 'Pending for Delivery' page after T day. Your position will be kept open for a maximum time period of T+365 calendar days in case of both NSE and BSE.


How can I take the delivery of my Flexi Cash position?

You can take delivery of your positions on clicking the "Convert to Delivery" option link by visiting the 'Pending for Delivery' page after T day maximum upto T+365 calendar days in case of both NSE and BSE. For Converting to Delivery you are required to have the remaining funds for your position in your Equity Current Cash Limits.


Can I do Convert to Delivery for part quantity ?

Yes you can either opt to do Convert to Delivery for full position quantity or for part quantity.


What can I do if I am not able to Convert to Delivery my position within the stipulated time due to unavailibility of adequate funds? What will happen if I am not able to Convert to Delivery within the stipulated time?

If you are not able to arrange adequate funds to Convert to Delivery or do not intend to take delivery of the shares, then you can choose to square off your position by visiting the 'Margin Position' page on T day or visiting the 'Pending for Delivery' page after T day maximum upto T+365 calendar days in case of both NSE and BSE. Please note the onus to convert to delivery or to square off your positions before the stipulated time (currently stipulated time for both NSE and BSE is T+ 365 calendar days) will lie on you. If you do not Convert to Delivery by bringing remaining funds within Transaction + 365 Calendar days in case of both NSE and BSE or square off your position within this time limit, then your positions will be squared off by I-Sec on best effort basis at the end of the Transaction + 365th calendar day , based on margin shortfall or other conditions as specified in FAQs of margin product.


Can I square off my Flexi Cash position, if I am not able to bring in adequate funds ? From where can I square off my positions?

You can square off your Flexi Cash positions, if you are not able to bring in adequate funds to Convert to delivery. You can square off your positions using the "Square off" link by visiting the 'Margin Position' page on T day or visiting the 'Pending for Delivery' page after T day maximum upto T+365 calendar days in case of both NSE and BSE.


What will happen to the Profit or Loss if I square off my position anytime within the stipulated time?

You can sell your shares within Transaction + 365 calendar days in both NSE and BSE without bringing in the additional funds. The profit or loss in such case will be credited or debited respectively to or from your linked bank account.


Is there any interest for the Flexi cash position which is carried forward as Pending for Delivery?

Please note Flexi Cash Position which is carried forward on Pending for Delivery becomes Margin Client Mode positions. Hence, Interest would be applicable on such positions. Please visit Margin Product FAQ's for more details on the interest part.


What is Minimum Margin (MM)? How is it calculated? Where can I see the Minimum margin amount?

Minimum Margin is the margin amount that you should ensure to maintain with I-Sec at all points of time for your open Flexi cash positions under the 'Margin position' or 'Pending for Delivery' page. Once the available margin with I-Sec on such positions goes below the minimum required margin,I-Sec would block additional margin required from the limit available and in absence of sufficient limits for the required margin such positions will be squared off either in part or full. The details are explained in the FAQs of Margin Client mode.

Minimum Margin is calculated as Amount Payable + (Amount Payable*Minimum Margin%)


What is Available Margin? Where can I view the Available Margin amount?

Available Margin is calculated as the Current Market price of the scrip * Position Quantity.

Available Margin amount can be viewed on the Margin Positions page for positions taken in the current settlement or the Pending for Delivery page for positions taken in earlier settlement.


How do I check if there is a margin shortfall on any margin position?

If available margin on any margin position has fallen below minimum margin required on that position, then available margin amount on such position would be highlighted in red colour on the Margin Positions (on Transaction day) / Pending For Delivery (T+1 day onwards) page indicating that the position may be squared off in the intraday MTM process if additional margin is not allocated. This shall be considered as a margin call on that position.You are advised to allocate additional margin immediately to meet the margin shortfall else such position may be squared off by I-Sec.

Please click here for more details or visit the 'Margin product' FAQs with regards to Client square off mode as the same are applicable for "Flexi Cash" product as well.