How is Penalty and debit balance interest calculated and charged?
Penalty is calculated at 1% on the overdue amount and is charged immediately upon the day end of T+2. Interest is calculated at P+4.5% per annum and is accrued daily over the period and is charged at the end of the month. It is important that you maintain sufficient cash flow to settle the debit balance interest at the end of the month, otherwise your securities trading account may become overdue and consequently locked from trading.
