What is the 5-Day Margin? What are its benefits?

5-Day Margin is a leveraged trading facility. You can create positions under this product that can be squared off, or converted to delivery till T+5 days (T= Trade date) on or before the specified time. Unlike a ‘Cash’ order, you do not have to pay the full order value for 5-Day Margin orders. You can take positions with lesser margin amount with an option to carry the position till a maximum of T+5 days. In case you do not square off or convert the position to delivery, Fincare services will square off the trade on T+5 days at any time after 2:30 PM. This is subjected to change / review by Fincare services from time to time. 5-Day Margin is available only with equities at Fincare services. Example: You buy 100 shares of ABC @ Rs. 2,500 on Monday. You have an option to square off the position or convert to delivery till next Monday (i.e., 5 trading days). If you fail to square off the position before 2:30 PM on T+5 days (Monday), your position will be squared off by Fincare services.