Can I use my trading account balance to apply for corporate bonds in the primary market?
No, you cannot use the balance in your FYERS trading account to apply for corporate bonds or Debt IPOs in the primary market. As per regulatory guidelines, all applications must be routed through the UPI (Unified Payments Interface) system linked to your bank account.
Why trading account balance cannot be used?
- SEBI mandates UPI as the sole payment mechanism for retail investors applying to public issues, including Debt IPOs.
- FYERS facilitates bond IPO applications via the UPI process only.
- Your trading ledger or FYERS funds cannot be blocked for these applications.
What you need to apply?
- A valid UPI ID linked to your personal bank account
- Sufficient bank account balance to cover the bid amount
- Access to your UPI app (e.g., Google Pay, PhonePe, BHIM) to approve the mandate
What if...
| Scenario | What you should know |
|---|
| You try to use FYERS account funds | The application won’t be processed—funds must come via UPI |
| Your bank account has insufficient balance | The UPI mandate will fail or be revoked automatically |
| You have multiple UPI IDs | Use the one linked to your PAN and trading profile for consistency |
Before applying, ensure your UPI ID is active and linked to the bank account matching your FYERS KYC details to avoid delays or rejections.
Last updated: 19 Jun 2025
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