MTF Not Working

BUG
1

MTF Facility which allows you to buy more quantity based on some interest rate doesnt actually work.

This happened to me two times recently.

Expected Process as per Angel One Customer Care team and shown on App is like this:

  1. You select the script you wish to trade with MTF Pay Later facility with agreed rate of interest and quantities.
  2. It shows correct quantity on Order Screen and based on the category of the stock it shows how many quantities more can be bought
  3. Next step as mentioned by Customer Care team is to expect an email and an SMS on the same Trading day in order to allow Angel one to pledge all the quantities including funded by customer and Pay Later facility
  4. And to my SURPRISE, this doesnt happen. You never get an email and two times I am asked to pay for the whole quantity.

My Question to Angel one team is if it not allowed for any reason why is it shown on Order Screen?

Frustrated by this useless step.

I have already raised a ticket with support team and they tell me same old steps to go to CDSL site to pledge myself manually.

But CDSL site says there are no shares to be pledged.

Really frustrated and thinking to close Angel Account as it differs to what is promissed.

2

Hi @Swap00Seven Sorry to hear about your disappointing experience, can you please DM us your Client Code so that we can get this looked into?

3

The same thing happened to me as well… It allowed me to buy the stock using mtf and I pledged the stock in cdsl website also. But on the same day it took all my remaining balance from wallet and wallet suddenly shows negative balance. And I had to add the complete money again to the wallet. Later I converted it to normal delivery. So confusing and didn’t understand the point of MTF and now I stopped using MTF in angel one.