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What is Flexi Cash in ICICI Direct?

Flexi Cash is a delivery margin funding facility offered by ICICI direct to its Cash product customers. In this facility, customers can buy stocks by paying the partial amount (say 11 to 31%) of funds and bring the remaining funds later at the time of settlement but not beyond the next 365 calendar days in case of both NSE and BSE to take delivery of your transaction. Till such time your position will remain with ICICI Securities as Pending for Delivery.

As Flexi Cash is a Margin funding facility, you need to pay interest of 0.05% per day or approx 18% PA on borrowed money.

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