The process of investment completes when you complete payment for your investment and ordered securities settled in your account. You will get the communication from us regarding both the step, ie, payment confirmation and successfull securities settlement. You can check the same investment journey on your portfolio by clicking here. https://www.gripinvest.in/portfolio
Once your investment order securities are settled, you will start getting returns from the next payout date. You can find the exact return schedule by going to "My Investment" on your portfolio page and clicking "Return Schedule" on your investment card.
Your returns will be credited directly to your demat linked bank account. You can find demat linked bank details on your CMR/CML which you have submitted to us while completing KYC. You can also find your depository (CMR/CML) details in your profile page under "Financial details" section.
The returns provided to you are on a pre-tax basis. There may be a TDS deduction on returns that depends on deal you have invested on.
The securities for your investment order will be transferred to your DEMAT account. Since these are listed securities, you can sell them to any other person through the exchange mechanism. Please note that there may be a limited secondary market for these securities and Grip does not guarantee that you will find a buyer. You can contact your dedicated Grip relationship manager to explore other options in case you need to sell your securities.
An investor has to include income earned from all the sources in their Income Tax Returns. The tax treatment on different products are different. Please refer to the FAQ 3 under section Tax and Filing (Click here). This is in addition to their income from all other sources.
You will be kept updated on the performance and returns received via monthly reports made available through emails.
You can also go to the ‘Portfolio’ page and check updated information about your investment.
We take nominee details while registering you on the platform in the process of e-KYC. In a case, when the investor is not available for redeems, the nominee receives the returns.
All the trades and securities are traded via exchange and funds are directly transferred to Clearing Corporation. You will receive refund in case the amount is not paid via registered bank account or there is discrepancy in the amount paid vs amount payable. Grip does not control any flow of funds and all decisions are on discretion of the exchange.
Yes, once you purchase any Corporate Bond or SDI securities using the Grip platform, these securities will be transferred to your Demat account. Further, since these are listed securities, you can sell them to any other person through the exchange mechanism. Please note that there may be a limited secondary market for these securities and Grip does not guarantee that you will find a buyer. You can contact your dedicated Grip relationship manager to explore other options in case you need to sell your securities.
You should typically expect to receive the securities on the next working day from the date on which you had placed your investment order (payment should be completed)
On the [order confirmation] page, you will be able to check the name of the exchange (NSE or BSE) through which your RFQ order is being placed.
All payments are routed directly through the Clearing Corporation. Sometimes, it can take longer than expected to get a confirmation on the payment status from the Clearing Corporation. We suggest that you check the status again after 2 hours.
In case of payments made via NEFT, transactions can take a longer time to reflect on the exchange’s account. If you have already paid the consideration amount within the prescribed deadline, the updated status will be reflected soon. In the unfortunate event that your payment does not reach the exchange on time, you will be refunded the total amount you paid within 24 hours.
‘Pending investments’ refer to those investment transactions which have been initiated by you, and have consequently been reported by us to the exchange, however, the exchange is yet to receive the consideration amount against such investments. We request you to complete this payment within the indicated deadlines in order to avoid penalties (if any) being placed on you by the exchanges. If you have already paid the amount, you can recheck the status after a few hours as it may take some time for the payment status to be reflected.
As of 5th Oct’23, only a limited number of partner banks are supported by the exchanges for collection of payments through net banking for transactions executed through the RFQ platform. This list might change in the future. We urge you to use an alternative payment method.