How to Apply for NCDs
What is NCD?
NCD stands for Non-Convertible Debentures. It is generally issued by the private companies or firms to raise funds. NCDs has fixed returns. It is quite risky as it is not secured by collateral and has high interest rates.
How to Apply for a NCD?
There are two ways by which one can apply for NCDs:
• Online
• Offline
1. Online
You can online apply for a NCD using ASBA facility. ASBA stands for Application Supported by Blocked Amount. ASBA IPO application process is provided by the Bank through internet banking.
Follow the below steps to apply for a NCD using ABSA:
1. Login to your Internet Banking Account.
2. Visit ‘Investment’ section.
3. A list of active/ latest NCDs will appear, select the NCD you wish to apply.
4. Select ASBA and enter the required NCD details.
5. Submit the application.
2. Offline
Follow the below steps to apply offline for NCD:
1. Download the NCD form by vising NSE/BSE website. Also, you can download NCD form from the issuing company’s website.
2. Take a printout of the NCD form.
3. Fill the form with required details and attach the required documents.
4. Attach a cheque of required application amount.
5. Submit your filled NCD form along with required documents and cheque at stock broker’s office/ Designated CDP location/ Designated RTA location.
Note: Designated CDP location/ Designated RTA location is already mentioned in the NCD form.
0 comments