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Prostocks vs Zerodha – Best Stock Broker Comparison

Shitanshu Kapadia
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Prostocks vs Zerodha – Best Stock Broker Comparison

Prostocks Vs Zerodha – Prostocks and Zerodha are Best discount stock brokers of India. Let’s compare Prostocks and Zerodha side-by-side and decide which stock broker is best.

Prostocks is a flat free online discount stock broker. Prostocks provide unlimited trading plan. Prostocks provide trading in equity, currency and future. The Intraday fees of Prostocks is Rs.15 per trade.

On the other hand, Zerodha is claim to be number one online stock brokers in India. Zerodha is famous for technology and lightning fast trading platform. Zerodha provide platform in investing in equity, futures and direct mutual funds. The intraday fees of Zerodha is Rs.20 per trade.

If you are planning to open a new trading account or planning to change from an existing stockbroker, this post is for you. In this post, we will compare Prostocks and Zerodha side by side.

Prostocks vs Zerodha – Best Stock Broker Comparison

Prostocks Review

ProStocks is popular online discount broker. ProStocks offers unlimited plan to the customers. You can trade in equity, F&O and currency using Prostocks.  It is one of the cheapest stock broker in India. Prostocks offers free trading terminal on website, mobile and trading app. The account opening at Prostocks is paperless and 100% online. The Key features of Prostocks are given below.

Prostocks Key Features

  • Brokerage Free Equity delivery trading
  • Flat Rs.15 per trade brokerage for Intraday and F&O
  • Unlimited trading plan
  • Online Paperless account opening process
  • Free trading terminal over website, mobile
  • Advance Margin and Brokerage calculator
  • NRI Account option available

Prostocks Charges

Category Fees
Equity Delivery Trade Free
Equity Intraday Trade  Rs.15 per trade (Flat Fee Plan) or Free for Unlimited Trading Plan
F&O Trades Rs.15 per trade (Flat Fee Plan) or Free for Unlimited Trading Plan
Options Trades Rs.15 per trade (Flat Fee Plan) or Free for Unlimited Trading Plan
Currency Future Rs.15 per trade (Flat Fee Plan) or Free for Unlimited Trading Plan
Currency Options Rs.15 per trade (Flat Fee Plan) or Free for Unlimited Trading Plan

Account Opening and AMC Fees

  • Demat & Trading Account Opening Charges – NIL
  • AMC Charges – NIL (Free for lifetime with Rs.1000 one time refundable deposit)
  • Unlimited Plan – Rs.899 per month equity cash & F&O, Rs.499 for currency
  • NRI Trading Plan – Rs.100 per trade for equity delivery

Prostocks Platforms

#1 Prostock Desktop

Prostock provide installable trading terminal. This platform is specially designed for frequent traders. You will get intraday charts, live streaming on screen for multiple market segments. Ordering on this platform is quick and easy.

You can customize trading analysis windows for faster market information. You can make use of inbuilt option strategies for calculating real time returns. You will get advanced real time chart on screen. This application allows you to set customized order alerts and price alerts.

#2 Prostock Web

Prostock web is website interface. You can access it online over internet using any web browser. You need not to install any application in order to use Prostock Web. You can get similar experience of desktop based application on the web.

You will get functional keys similar to brokers terminal. You will get access of real time market quotes and online reports. You can real time and rule based trading.

#3 Prostock Mobile

Prostock Mobile is android and iOS based light weight mobile application. You can trade on the go by using this application. It is a secured, simple yet powerful trading app for the traders.

Prostocks Pros

  • Flat fee and unlimited monthly trading plan available
  • Call & Trade facility available which is low cost
  • Online IPO facility available
  • Multiple Trading platform available
  • ProStocks has very good customer service
  • Advance Interactive voice response system

Prostocks Cons

  • 3-in-1 Account is not available only trading and demat account available
  • Commodity Trading facility is not available

Zerodha Review

Zerodha is best online discount broker of India. Zerodha is famous for latest technology and lighting fast speed. Zerodha is flat fee discount broker. Zerodha allows you to invest in equity, currency, commodity, IPO and direct mutual funds. Zerodha offers multiple trading platforms for trading such as Kite, Console, Coin etc. The flat fee for trading at Zerodha is Rs.20 per trade. The Key features of Zerodha are given below.

Zerodha Key Features

  • No delivery charges applicable and brokerage charges are very low
  • Speedy Trading platform incorporated with advanced technology
  • Historical data storage with advance charting facility
  • Regional language support available
  • Multiple Trading Platforms
  • Direct Mutual Funds Investment facility available
  • Learning facility available at Zerodha 

Zerodha Charges

Category Fees
Equity Delivery Zero
Equity Intraday Trading Rs. 20 or 0.03% (whichever is lower)
Equity Options Flat Rs. 20 per executed order
Equity Futures Rs. 20 or 0.03% (whichever is lower)
Currency Options Rs. 20 or 0.03% (whichever is lower)
Commodity F&O Rs. 20 or 0.03% (whichever is lower)

Zerodha Account opening and AMC Charges

  • Zerodha Account opening charges – Rs.200 Trading and Demat Account & Rs.100 for commodity Account
  • AMC Charge – Rs.300 paid quarterly

Zerodha Platforms

#1 Kite

Zerodha Kite is ultra-fast trading platform made with advance technologies. You can make use of this platform on Android as well as iOS devices. Buying, selling, analyzing, and managing portfolio using Kite is very easy. It gives advance data for analysis. Advance charting facility of this tool is very good.

#2 Coin

Zerodha Coin is platform for buying direct mutual funds online. Zerodha coin provide unique investment experience. You can invest in mutual fund without commission. You can select any of the mutual funds from 40 fund houses. You can create, pause and modify your SIP anytime anywhere. It accept UPI based payment. The investment made via coin is stored in the demat form.

#3 Sentinel

Zerodha Sentinel is could based price alert tool. Customer can set price alerts on stocks, futures and options. It is machine learning based tool which sent alert even your computer is off. Notification are sent on Kite and e-mail for the price alert. The real time alert helps traders in taking trade decision in real time.

The other trading platforms for Zerodha are Smallcase, Streak, Sensibull, GoldenPi etc.

Zerodha Pros

  • Delivery Charges are NIL.
  • Multiple Trading platforms available.
  • The training facility is for the beginner is available.
  • Investment in direct mutual funds allowed.
  • Flat brokerage and easy to understand pricing.
  • Manage all investments on a single platform.
  • Good Customer Support and Quick Resolution.

Zerodha Cons

  • You will not get any advisory facility on this platform.
  • The response of the platform is slow during peak hours.

Prostocks vs Zerodha Comparison

prostocks vs zerodhaFinal Takeaway

From above comparison we can say that brokerage wise Prostocks is better as per trade cost is Rs.15 compared to Rs.20 of Zerodha. However, from technology viewpoint Zerodha is far better. Zerodha provides lighting fast trading platform. The number of trading platform and trading facility is far superior compared to Prostocks. Zerodha also provide facility of investing in direct mutual funds.

Flexi Cap Mutual Funds vs Multi Cap Mutual Funds – Where to Invest?

Shitanshu Kapadia
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Flexi Cap Mutual Funds vs Multi Cap Mutual Funds – Where to Invest?

Flexi Cap Mutual Funds is a newly introduced category by SEBI. This newly created category offers flexibility for market cap selection as per the name. As per the mandate, the scheme needs to invest at least 65% of its corpus in equity. The fund manager has the freedom to invest corpus. The fund manager can invest a corpus across capitalization (large-caps, mid-caps, and small-caps) without any restriction/cap. This fund is also known as a dynamic equity scheme.

The Flexi cap fund category is similar to the old multi-cap fund. In old multi cap fund minimum, 65% investment in equity was mandatory. There were no restrictions on other market-caps on the remaining fund. The old multi cap was changed where SEBI introduced a mandate to invest 25% each in mid cap and small cap stocks.

Let’s compare Flexi Cap Mutual Funds and Multi Cap Mutual Funds side by side.

What are Flexi Cap Mutual Funds?

Flexi Cap is an open-ended dynamic equity scheme investing across large cap, mid cap, small cap stocks. The condition is kept that minimum investment in equity and equity-related instrument should be 65% of total assets. Complete flexibility is given to the fund manager for investing funds. The Asset Management Company (AMC) has the liberty to choose a suitable benchmark for each Flexi-Cap scheme.

The fund houses can convert existing schemes into Flexi-Cap scheme subject to compliance as per SEBI guidelines.

What are Multi Cap Mutual Funds?

Multi Cap is a true multiple capitalization fund. Mutli Cap fund invests at least 75% of its total assets in equity and equity related instruments.

In this category of fund, it is mandatory to invest at least 25% of the corpus in each large-cap, mid-cap, and small-caps. The new changes in the multi cap mutual fund category are introduced recently by SEBI. The fund manager is forced to invest a percentage of funds in mid-cap, large-cap, and small-cap despite of non-performance.

Flexi Cap vs Multi Cap Mutual Funds

Let’s Compare Flexi Cap and Multi Cap Mutual Funds Side by Side.

Flexi Cap vs Multi Cap

Which Mutual funds to select for Investment – Flexi Cap or Multi Cap?

Which fund to select for Investment – Flexi Cap or Multi Cap? Well, the reorganization of the fund and introducing flexicap category is a very good step by SEBI. It will help the investor in making the correct choice of the fund as per the fund label.

If investors want to have balance exposure across market capitalization, they can go for multi cap fund category. On the other hand, if the investor has full confidence on the fund manager capacity and looking for higher returns they can opt for newly launched flexicap funds. A newly launched flexicap funds seem to be better as it offers true flexibility to the fund manager.

PM SVANidhi Loan SBI e-Mudra – How to Apply online?

Shitanshu Kapadia
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0
PM SVANidhi Loan SBI e-Mudra – How to Apply online?

PM SVANidhi Loan scheme is launched under Atma Nirbhar Bharat. This loan scheme is launched in June 2020. The prime purpose of this loan is to provide affordable working capital to a small vendor.

This scheme is in addition to the e-Mudra scheme. Under e-Mudra any MSME (Micro, Small & Medium Enterprise) can apply for a loan for meeting business requirements, such as business expansion, buying a new machine or business-related purpose. If you have SBI Saving or a current account you can apply for e-Mudra scheme loan online up to Rs.50000.

PM SVANidhi is another scheme. Under this scheme, street vendors will be able to get a loan amount up to Rs.10000.  You can also apply for PM SVANidhi Loan and e-Mudra Loan online. Here is a step by step method to apply for these loans online.

SBI SVANidhi Loan

SBI e-Mudra – How to Apply online?

To apply for the SBI e-Mudra Loan follow the steps given below.

1) Visit the SBI e-Mudra portal. Click on the Proceed button. You have the option to read instructions in Hindi and English. Read the instruction and click on the “Ok” button.

2) You will be taken to a new page where you need to enter your details such as Name, Mobile Number, SBI Saving Bank Account Number, SBI Current Account Number, Loan amount. Once you are done click on the proceed button.

3) Fill up the online application form for the Mudra Loan and Upload the required documents.

4) In the next step you need to accept terms and conditions and give consent for using your Aadhaar for e-sign.

5) You will get OTP on your registered Aadhaar mobile number. On inputting the correct OTP your application will be submitted.

Online application up to amount Rs.50000 is allowed. For the loan amount more than Rs.50000 you need to physically visit bank. You need to complete formality of completing application offline. The disbursement will take place from e-Mudra portal.

e-Mudra Loan Eligibility

You can apply for e-Mudra loan at SBI if the following conditions are satisfied.

(1) SBI e-Mudra loan can be given to Indian Citizen who is registered as micro-entrepreneur.

(2) SBI Saving Bank account or Current bank account is required in order to apply for the loan.

(3) The maximum loan amount for e-Mudra Loan is Rs.50000 for online application. You can additionally get a loan in multiple of Rs.50000 up to 10 Lakh.

(4) Your age should be minimum of 18 years and the maximum age limit in this scheme is 65 years.

e-Mudra Documents Required

The following Information/Documents are required for e-Mudra Loan.

  • Registration certificate of GST
  • Udyog Aadhaar Details
  • Shop & Establishment Certificate
  • ID and Resident Proof
  • Property Tax Receipt
  • Last six months bank statement
  • Profit & Loss statement of last 2 years
  • Balance Sheet of Last 2 years

SBI PM SVANidhi Loan –  How to Apply?

To apply for the SBI PM SVANidhi Loan follow the steps given below.

1) Visit the SBI e-Mudra portal. Click on the Proceed button. You have the option to read instructions in Hindi and English. Read the instruction and click on the “Ok” button.

2) Now enter Mobile Number click on the Verify button. You will get SMS on your mobile number for verification. Enter SBI Saving or Current account number and required loan amount.

PM SVANidhi Loan

3) Enter PM SVANidhi Portal Application No and click on Proceed button.

4) Fill up the application form for PM SVANidhi Loan and upload the required documents in PDF or JPEG format.

5) Accept terms and conditions in the next step and give consent of using your Aadhaar for for e-sign.

6) An OTP is triggered to your Aadhaar linked mobile number. Submit the OTP and your application would be submitted.

This loan can be applied at PM SVANIdhi Portal.

PM SVANidhi Loan Eligibility

You can apply for PM SVANidhi loan at SBI if the following conditions are satisfied.

(1) If you are street vendors/hawkers vending in the urban area before lockdown.

(2) You require membership details with the vendor associations or any other documents that proves that you are a vendor.

(3) SBI Saving account number and Aadhaar linked mobile number is required.

PM SVANidhi Documents Required

Following documents are required in order to apply for PM SVANidhi Loan.

  • Vendor ID or Certificate of Vending No
  • Letter of Recommendation
  • KYC Documents – Aadhaar, Voter ID Card No

Take Away

e-Mudra and PM SVANidhi schemes are very good schemes that helps small and medium size vendor and street vendors to get finance for their business at lower cost.

Share your thoughts in the comment section.

Thanks for reading the post.

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Top Credit Card for Festival Season – Online Shopping

Shitanshu Kapadia
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0
Top Credit Card for Festival Season – Online Shopping

Top Credit Card for Festival Season – Festival season has started. E-commerce companies Amazon and Flipkart have already launched their mega-festival sale online. You must have planned to purchase gifts and household items for this Diwali.

This year Diwali (Festival of Light) may not be celebrated with full of energy and joy due to COVID-19. Still, you will try to enjoy Diwali in one or another way.  As you may be facing a cash crunch due to COVID-19, here are Top credit card ideas that will help you to save more money. These top credit cards will help you to get more discounts & more benefits while doing online shopping.

Top Credit Card Festival Season

Top Credit Card for Festival Season – Online Shopping

#1 Amazon Pay ICICI Credit Card

Amazon Pay ICICI Credit Card is a specially designed card for Amazon Customers. This card offers 5% cashback benefits for Amazon Prime Customers. The earnings will be added to Amazon Pay Balance. It is one of the best cards for doing online shopping and saving money during the festival season. The key features of this card are given below.

Key Features

  • 5% cashback on Amazon purchase for the Prime Members
  • 3% cashback on Amazon purchase for the Non-Prime Members
  • 15% savings on dining bills at over 2500 restaurants across India
  • 1% fuel surcharge waiver
  • 1% cashback on all other purchase-including shopping, dining, insurance, etc
Charges

  • No Joining fee or Annual Fee
  • Interest rate – 3.8% per month (45.6 per annum)

Also Read – Credit Card EMI Offer – Should you opt?

#2 HDFC Millennia Credit Card

HDFC Millennia Credit Card is one of the best credit cards for saving more money during the festival season. You will get cashback benefits on spending money online. You will also get a cashback benefit on offline purchases.  Key features and benefits of the HDFC Millennia credit card are given below.

Key Features

  • 5% CashBack on Amazon, Flipkart, Flight & Hotel bookings on shopping via PayZapp
  • 5% CashBack on all other online spends
  • 1% CashBack on all offline spends and wallet reloads
  • The card comes with Zero Cost Liability
  • The card comes with 50 days Interest-free credit period
  • Complimentary Domestic Lounge Access
  • Smart EMI Facility available

Charges

  • Joining Fee – Rs.1000 + GST
  • Renewal Fee – Rs.1000 + GST
  • Interest rate – 3.6% per month (43.2% per annum)

#3 SBI Simply Click

SBI Simply Click is specially designed for online shopping benefits. You will get a special gift card as well as e-Shopping rewards for using this credit card. You will also get milestone rewards and annual fee reversal benefit on this card. Key Features of SBI Simply Click Card are given below.

Key Features

  • The cardholder will get a Free Gift Card worth Rs.500 on joining
  • You can earn 10x reward points on online spend with Amazon/Bookmyshow/Lenskart etc.
  • 5x rewards on all other online spends
  • On annual spend of 1 Lakh, the cardholder will get an e-voucher of Rs.2000
  • 1% Fuel surcharge waiver for transaction above Rs.500
  • You will get the FlexiPay option to convert your transaction into EMI.

Charges

  • Joining Fee – Rs.499 + GST
  • Renewal Fee – Rs.499 + GST
  • Interest rate – 3.35% per month (40.2% per annum)

#4 Flipkart Axis Bank Buzz Credit Card

Flipkart Axis Bank Buzz Credit Card is a special card for the Flipkart Lovers. The cardholder will get the benefit of 10% instant discount as well as 5% cashback benefit. In addition to Flipkart, this card is also useful at other online platforms such as Myntra,  MakeMyTrip, Goibibo etc. Key features of Flipkart Axis Bank Buzz Credit card are given below.

Key Features

  • 2900 joining and activation benefits
  • 5% cashback on Flipkart, Myntra and Goibibo
  • 4% cashback on preferred merchants
  • Complimentary Lounge visits to selected airport
  • 1% Fuel Surcharge waiver benefit
  • Up to 20% discount at partner restaurants in India

Charges

  • Joining Fee – Rs.500 + GST
  • Renewal Fee – Rs.500 + GST
  • Interest rate – 3.4% per month (49.36% per annum)

#5 HSBC Cashback Credit Card

HSBC Cashback Credit Card is next in the list of best credit cards for online shopping. The cashback provided by this card is relatively less. However, this card offers multiple other benefits to the customer. Key Features and benefits of HSBC Cashback Credit Card are given below.

Key Features

  • 5% discount on Amazon purchase above Rs.1000
  • 20% off on Swiggy orders for the limited period
  • 500 Amazon Voucher as welcome benefit
  • 5% cashback on all online spends.
  • Annual Membership Reversal facility
  • Up to 15% discount on selected restaurants across India

Charges

  • Joining Fee – Rs.750 + GST
  • Interest rate – 3.3% per month (39.6% per annum)
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