Terms and Conditions

1. Equity SIP (E-SIP):

Present Terms and Conditions should be read along with the Rights and Obligations as prescribed by SEBI. Nothing contained herein shall be construed as derogatory to the above Rights and Obligations. By availing of the Equity- SIP (Equity Systematic Investment Plan) facility through SBICAP Securities Limited “SSL”, the Client acknowledges having read, understood and accepted these Terms and Conditions.

SSL has the right to modify/alter, change or vary all or any of the terms and conditions or to replace the same by another term, partly or wholly or to withdraw it entirely.

“BASKET” shall mean set of stocks selected by client to invest through EQUITY SIP product offered by SSL on its trading platform whereby buy orders will be placed in the selected securities on the Exchange selected by client over a fixed duration at a fixed frequency of his own choice.

“Trading account Opened” –the time is taken to process document for opening of Trading Account and before the “Trading Account Enablement”

“Trading Account Enablement” - The time when client is able to place the Orders after activation of Unique Client Code by the Exchange(s)

Trigger Date – The date on which the SIP Orders will be triggered

The Client hereby agree, confirm, understand and give consent for opting Equity SIP that: -

1. Equity SIP investment opted by the client would start only if his/her trading account is enabled for trading successfully.
2. After opting for Equity SIP basket during account opening journey, the client would receive an email covering the details of the SIP basket opted by him/her. The client can cancel the planned SIP basket by clicking on the link provided in that mail before the opening of account.
3. Once the trading account is opened, the client will not be able to cancel the SIP using the link in the email. In such cases, the client needs to wait for the enablement of the trading account after which the client can log-in to his/her own account through website or Mobile app of SSL and cancel/Add/Delete/Edit/Modify the SIP basket by himself/herself.
4. The SIP basket will be auto-created as per the details/description opted by the client on the same day when the account is enabled for trading. But the client’s Equity SIP investment (actual order placement to Exchanges) would start only on the next trading date of the day when the account is enabled for trading. Hence the client will get window of one day for cancellation of SIP basket after trading account is enabled and before the order is actually placed on Exchange.
5. If the Bank Account linked to the client’s trading account is SBI, then on the day of order placement, the client’s SBI bank account will be marked lien for the amount equal to the order value (depending on prevailing market rates) after using available limits, if any. Hence for the successful order placement, the client will have to maintain funds/limits equivalent to the basket value (plus recommended surplus of 5% to bank account for market volatility and charges) on the date of order placement. At the time of settlement of the client trades after-market hours, the bank account will be debited for the amount equal to trade value of Equity basket and the charges applicable to the trades after removing lien.
6. If the Bank Account linked to the client’s trading account is not SBI Bank account, then the client will have to transfer the funds into his/her trading account and required to maintain sufficient trading limit credit balance to make the trading limit available for successful placement of Equity SIP orders.
7. The client is fully aware about the risks involved in Equity SIP before opting for this product.
8. The Client will ensure to have own investigations and take appropriate professional/expert advice/opinion, if so required before investment in Equity SIP.
9. By providing such Equity SIP facility SSL is neither acting as a portfolio manager nor an investment advisor. SSL does not assume any fiduciary duties.
10. After availability of sufficient funds, SSL will execute the Equity SIP orders of entire stock/scrip at the price prevailing in the market in the client’s account as per his own choice. In case of insufficient funds for the basket, none of the individual orders from the basket will be placed. For example, if for Equity SIP basket of 5 stocks, order value is Rs. 10,000 at the prevailing market rates and if the fund + limit balance available in client account is Rs. 9000/- which is enough for any of the 4 stocks within the basket, still, none of the orders will be placed.
11. The client shall take into consideration all the risk factors including his/her financial condition, suitability to risk return profile and take professional advice before investing.
12. The client shall provide complete support and shall provide all the required information / clarification /documents including net worth certificate /ITR as requested by SSL and/or any investigating authority from time to time.
13. SSL reserves the right to change the terms and condition of Equity SIP Facility without intimation and the client shall not claim any loss, in case of such discontinuation of Equity SIP Facility by SSL
14. In case of discontinuation of Equity SIP facility, the stock/shares purchased and lying-in client’s Demat account will remain unaffected; only the placement of subsequent Equity SIP orders will be discontinued.
15. The decision of SSL with respect to this product shall be final and binding on the client.
16. The Court in Mumbai shall have exclusive jurisdiction.
17. Equity SIP will continue to purchase the same stocks/scrip mentioned above or as per the basket opted by the client until and unless it is discontinued by the client or the duration is exhausted.
18. During the tenure of client’s SIP, he can anytime modify, cancel, pause and resume the same. Once the Equity SIP is cancelled the client will not be able to re-start the same basket. In case the client wishes to re-start the same Equity SIP basket after cancellation, he can always start a fresh SIP by logging on to the trading account.
19. SSL shall have the absolute discretion to decide the maximum frequency allowed and the period/duration for each EQUITY SIP request in each security under this facility.
20. The Rules & Regulations as prescribed by the exchange will be applicable to client’s trades.
21. The client agrees that SSL have the right to decide the timing for placing the orders on the Trigger date.

2. Product terms and conditions:

• In case of special trading sessions or an extended trading session when specific scrips are allowed to trade will classified as Equity SIP holiday dates. No Equity SIP transaction will be carried out. In case your Equity SIP trigger date is falling on that day, the same would be triggered on next business/ Trading Day.

• In case of systemic inability to lien mark funds due to any reason / system failure etc, the client’s Equity SIP orders will not be sent to Exchange then the client shall not claim for any notional and/or opportunity loss thereof.

• In case of any regulatory reason, if the client’s trading account is deactivated, then the Equity SIP transaction will not be executed and the client shall not claim for any notional and/or opportunity loss.

• SSL will only trigger buy leg based on the instructions received from the client. The Selling will be at the sole discretion of the client

• Excess funds remaining after Equity SIP transaction will be released at the End of Day only post settlement of Equity SIP transaction. Securities bought under this scheme will be added in the limits on the day on which it has been bought.

• SSL holds no responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages incurred to the client for the failure to execute the Equity SIP on Trigger or Schedule of SIP Start date and the client shall have no claim against SSL

• On trigger date, if selected scrips reach upper circuit and due to any reasons if the order will be kept live till market ends. In this case, the order may or may not get successfully executed depending upon the market situation/scenario and the client shall have no claim against SSL for non-execution of trade.

• Securities investments are subject to market risks and there can be no assurance or guarantee that the objectives will be achieved. Each client is advised to consult his/her own financial advisor/professional tax advisors before availing of scheme. For more details / disclaimers refer to our website www.sbisecurities.in

• The SSLs may discontinue the Equity SIP completely or partially by giving 15 days’ notice to the client including but not limited to via Mail /Letter/SMS and any other mode of communication.

• All other exchange conditions viz. Shortages, Auction etc. and circulars issued from time to time will be applicable to Equity SIP trades.

• Client would be provided the Contract Notes and other communication as per the normal practice (physical or electronic mode as consented by the client).

• Corporate actions like face value split etc. and subsequent change in the Equity SIP quantity, will not be handled in the Equity SIP. The client needs to change the same by logging onto online platform.

• Corporate Black out period (No transaction period in the scrip) will not be handled in the Equity SIP. This is applicable in respect of employees who have set up Equity SIP in the company they work in.

• The terms and conditions of the scheme will always be read and construed in conjunction with the provisions of the client member agreement entered into between the SSL and the Client/customer / Rights and Obligations as confirmed by the client.

3. Brokerage / Fee Structure and order execution

• Normal brokerage as per brokerage plan applicable on the transaction day to Delivery Transactions will be charged to Equity SIP transactions.

• Equity SIP orders will be executed in Exchange during market hours at market rate and hence the rates at which the orders get executed will totally depend on the sell side orders available in the market in the respective scrips. If the prices at which Equity SIP orders got executed happen to be on the higher side as compared to the scrip prices on that day, client will not hold SSL responsible.

• Limits will be updated for the successfully executed transactions. This is subject to all other market conditions viz. Trade-to-trade guidelines etc remaining same.

• The minimum brokerage plus taxes will be applicable to each scrip wise transaction as per the Brokerage Plan availed by the client along with all other terms and conditions of said Brokerage Plan.

4. Cancellation / Modification / Pause

• Clients can cancel / modify / pause Equity SIP by logging on to SBI Securities Mobile App or web platform.

• On successful processing of request for modification / pause/ cancellation by the Client will be intimated vide email. All such requests are free of cost.

5. General

• Client is aware that the said investments decisions in investing in E-SIP is with due consent.

• SSL does not warrant that the Equity SIP will be uninterrupted or error free. The Client agrees that SSL shall not be responsible for any delays or failure in the process of an Equity SIP instalment order or an auto-debit due to breakdown or failure of the system due to technical fault/error or otherwise any other delay or failure beyond the reasonable control of SSL

• SSL reserves the right at any time with prior notice as per Regulations to add, alter, modify, change or vary all or any of the terms and conditions or to replace wholly or in part, the above offers by another offers, whether similar to above offers or not, or to withdraw it together.

• The clients investing through Equity SIP features will not hold SSL responsible for liable for any actions, claims, demands, losses, damages, costs, charges and expenses which they may suffer, sustain or incur by way of above feature.

• In case of any dispute, the decision of the management of the SSL will be final and shall binding on the client.

• All disputes arising out of or in connection with this facility are subject to the exclusive jurisdiction of courts in the city of Mumbai only and as per the guidelines issued by Exchange/s/Regulatory Authority for dispute resolutions, from time to time.

• For any further queries or request, please contact SSL helpdesk
  Contact number - 022 6854 5555
  Email ID - helpdesk@sbicapsec.com

For detailed disclaimer refer www.sbisecuritries.in