What is R Max Plan?
“R Max Plan” is a subscription plan, where you pay subscription amount for a plan and enjoy the discounted brokerage rates during the tenure of the plan.
How does R Max Plan work?
Reliance Securities Limited (RSL) “R Max” offers various plans which vary in terms of brokerage rates and subscription amount. Based on your trading profile you can choose from various plan options available. a. Subscription Amount: To buy an R Max PLAN you have to pay the subscription amount and the Brokerage applicable (including service tax thereon) on your day to day trades will be adjusted from the amount paid by you towards subscription of R Max PLAN.
b. Renewal: You would be required to renew your R Max Plan either on expiry of your plan tenure or on exhaustion of subscription amount, whichever happens earlier. c. Grace period: If your R Max Plan subscription amount exhausts before the tenure, you will be given a 30 days grace period. During this grace period, you will be charged the same brokerage rate as applicable to your R Max Plan. d. Default brokerage: On expiry of your plan tenure or on expiry of 30 days grace period (after the exhaustion of R Max Plan subscription amount) whichever happens earlier, then you will be automatically shifted to a predefined default brokerage rate.
Who can avail R Max Plan?
All clients of Reliance Securities Ltd. (RSL) except NRI clients can avail R Max Plan.
Why should I opt for R Max Plan?
R Max Plan offers you following benefits which are not available in normal percentage brokerage scheme:- a. Low brokerage without volume commitment: It offers you low brokerage without any commitment towards volume. b. Flexibility to upgrade plan as per change in trading profile: Reliance Securities “R Max Plan” allows you the flexibility to upgrade your plan anytime during the plan tenure. If you foresee any change in your trading profile, you can shift from lower subscription amount plan to higher subscription amount plan. The full subscription amount for the New R Max PLAN subscription will be debited from your common ledger at the time of placing request and any balance left in existing R Max PLAN subscription amount will be credited back to your common ledger at end of the day.
c. No penalty on up-gradation in plan: Shifting from lower subscription amount R Max Plan to higher subscription amount R Max Plan is allowed. No penalty is charged for such movement. d. Refund of subscription amount balance at maturity of Plan: If any balance is left in your R Max Plan Subscription amount at the end of plan tenure, the same will be credited back to your Common Ledger. e. Grace period: If your R Max Plan subscription amount exhausts before the tenure, you will be given a 30 days grace period. During this grace period, you will be charged the same brokerage rate as applicable to your R Max Plan.
How to place a request for subscription of R Max Plan?
Online – Logging in to our trading portal
An R Max Plan subscription request can be placed online by log-in to your trading account. Based on your trading profile, you can select from various plans available and your ledger will be debited for the R Max Plan subscription amount. Accordingly R Max Plan will be activated in your account and brokerage rate of the selected R Max Plan will be applicable from next trading day onwards. Offline – Placing request through dealer If you have placed at least one R Max Plan request online, then you can place your all further request (for renewal, upgrading, exit) by giving instructions to the mapped dealer or by calling our Call & trade desk. In case you have not placed any online request for activation of R Max plan before, you have to give a physical request in your branch/franchisee office for subscription of R Max Plan. This physical request will be sent to our processing team & they will place the subscription request on your behalf. Once your first request is processed, then you can place your all further request (for renewal, upgrading, exit) by giving instructions to the mapped dealer or by calling our Call & trade desk.
Can I cancel my R Max Plan subscription request?
Yes, you can cancel your R Max Plan subscription on the same day of registration by placing request for cancellation before the end of the EOD processing. After EOD you are required to go through the exit process as mentioned below.
Once R-MAX is active, can I exit from R-MAX before the tenure is over and shift to normal brokerage?
In case you want to exit from R Max Plan before the expiry of plan tenure and shift to normal percentage brokerage plan or you want to close your account with RSL, you are required to give a request to RSL to that effect. Any balance left in subscription amount of existing R Max Plan will be credited back to your common ledger after charging applicable foreclosure charges.
The foreclosure charges are applicable as follows:- -
Exit request received in first year of R Max Plan subscription – foreclosure charges will be levied at 20% of balance in R Max Plan subscription amount.
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Exit request received in second year of R Max Plan subscription – foreclosure charges will be levied at 10% of balance in R Max Plan subscription amount. -
Exit request received in third year of R Max Plan subscription – foreclosure charges will be levied at 5% of balance in R Max Plan subscription amount. Upon receipt of a valid exit request from you, the balance in the R Max Plan, after charging the applicable foreclosure charges, will be credited to your common ledger within 2 working days. Accordingly R Max Plan will be closed and you will be automatically shifted to a predefined default brokerage rate from next trading day. You may opt for another brokerage plan that is available then.
In case my ledger doesn’t have sufficient funds, will my plan subscription request be accepted?
No. Your request will not be accepted in case your ledger doesn’t have sufficient clear funds.
When will my R Max Plan be activated?
Once you have placed an R Max Plan subscription request successfully, your R Max Plan will be activated from next trading day onwards.
What happens at expiry of R-MAX Plan tenure?
At expiry of your R-MAX Plan tenure, you will be automatically shifted to a predefined default brokerage rate from next trading day. Any balance left in your R-MAX Plan subscription amount will be credited back to your Common Ledger with RSL.
What if my R-MAX Plan subscription amount gets exhausted before the expiry of plan tenure?
You will be given a 30 days grace period. During this grace period, you will be charged the same brokerage rate as applicable to your R-MAX Plan. You are required to renew your R-MAX Plan during this grace period.
Once my R Max Plan is activated, how will the brokerage be charged on my trades?
Once the R Max Plan is activated, brokerage applicable on your day to day trades along with service tax will be adjusted from the R Max Plan subscription amount paid by you. All other statutory and regulatory levies will be adjusted from your Common Ledger.
Am I required to pay any extra/additional charges for the R Max Plan?
No, there are no extra/additional/hidden charges for the R Max Plan. All your trades will be charged with the Applicable R Max Plan brokerage rate along with the Service tax and other statutory and regulatory levies as applicable.
What if I do not renew my plan within this period of 30 days?
If you do not renew your plan within these 30 days, you will be automatically shifted to a predefined default brokerage rate after the 30 days grace period is over.
What if my plan tenure expires before the 30 day grace period is over?
If your plan tenure expires before the 30 days grace period is over, you will be automatically shifted to a predefined default brokerage rate after expiry of your plan tenure. E.g.: You have taken a 3 year R Max Plan on 1st of July 2011. Your plan is valid till 30th June 2014. If R Max Plan subscription amount is fully utilized on 15th June 2014, hence according to grace period feature you shall be charged as per brokerage rate applicable to your R Max Plan for next 30 days. However, as your plan is expiring on 30th June, you will be shifted to default brokerage rate on 30th June 2014.
Once R Max is active, can I shift from existing plan to new plan before the expiry of existing plan?
If you foresee any change in your trading profile, you can shift (UPGRADE) from lower subscription amount to higher subscription amount. Your new R Max Plan will be activated and existing R Max Plan will be deactivated from next trading day onwards. Full subscription amount required for the new R Max Plan will be debited from your Common Ledger immediately on placing of request and any balance left in your existing R Max Plan subscription amount will be credited back to your Common Ledger at end of the day If you wish to shift (DEGRADE) from higher subscription amount to lower subscription amount, you need to give exit request in writing to RSL for existing R Max Plan and subscribe a new R Max Plan. Any balance left in existing R Max Plan subscription amount will be refunded after charging applicable foreclosure charges.
The foreclosure charges are applicable as follows:- -
Exit request received in first year of R Max Plan subscription – foreclosure charges will be levied at 20% of balance in R Max Plan subscription amount. -
Exit request received in second year of R Max Plan subscription – foreclosure charges will be levied at 10% of balance in R Max Plan subscription amount. -
Exit request received in third year of R Max Plan subscription – foreclosure charges will be levied at 5% of balance in R Max Plan subscription amount.
Upon receipt of a valid exit request from you, the balance in the R Max Plan, after charging the applicable foreclosure charges, will be credited to your common ledger within 2 working days. Accordingly R Max Plan will be closed and you will be automatically shifted to a predefined default brokerage rate from next trading day. You may opt for another brokerage Plan then available.
Where can I view the daily brokerage adjustments against my R Max Plan amount and the running balance?
An R Max Plan Statement has been provided for this purpose. You can view your R Max Plan statement by log-in to your account. This statement will show you the daily amount adjusted form your R Max plan subscription amount on account of brokerage and Service tax.
Can an existing percentage brokerage customer shift my plan from percentage brokerage to R Max plan?
Yes, you can shift your plan from percentage brokerage to R Max Plan. You need to Login to your online trading account and chose an R Max Plan which suits your trading profile.
Can an existing Limit card customer shift plan from percentage brokerage to R Max plan?
Yes, you can shift your plan from Limit card to R Max Plan. You need to Login to your online trading account and choose an R Max Plan which suits your trading profile.
Once I shift from Limit card to R Max Plan, can I shift back to Limit card?
No, once you are shifted to R Max Plan you cannot shift back to Limit card.
If I shift from Limit Card to R Max, will I get the proportionate refund for unutilized turnover?
Yes, you will get the refund of last limit card amount which is in proportion to unutilized turnover (of the last limit card) provided your limit card has not expired. Any unutilized turnover balance carried forward to the new limit card assigned will not be considered for refund. If client does such shift before 25th of the month, refund amount will be credited back to his common ledger in first week of next month.