Debit Balance Penalties in FYERS trading Accounts

Will FYERS charge penalties for debit balances in trading accounts?

Yes, if your trading account with FYERS shows a debit (negative) balance exceeding ₹100, a penalty applies. Here's the breakdown:

Penalty Rate: An annual rate of 18% or a daily rate of 0.05% applies on the debit amount.
Accrual Method: The penalty amount accumulates daily.
Charging Frequency: The total accrued penalty for the month is charged once at its end through a Journal Voucher (JV).

Note: This penalty has been effective for all clients since 1st June 2021. Before this date, FYERS did not impose any such penalty.

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