Blocked Funds will Earn Interest under SCSB Application

‘Self Certified Syndicate Bank’

Self-Certified Syndicate Bank (SCSB) is a bank that can deliver ASBA services without any flaw to its customers. It has recognition among investors at each Trading Platform. In Online Trading, SCSB plays a vital part. It grants ASBA authorisation to block funds in the applicants’ savings or current bank account.

Steps To Check the ASBA Application Status

Here are the steps to achieve the above statement correctly:

  1. Form Fillup: Complete the ASBA IPO form (via internet banking, mobile app, or at the bank)
  2. ASBA IPO Timing: The application requires time to process your request. Applicants should submit the request between 10 AM to 5 PM of the issue closing date. 
  3. Checking of IPO Status: Check your IPO allotment status by visiting the website. 
  4. ASBA IPO Process: The application has a convenient source to apply. It is an ASBA route that allows applicants to apply, cancel, or modify their IPO application. Several processes are available as per your requirement. 

Steps To Withdraw ASBA IPO Application Through SCSB

Well, the procedure to withdraw the ASBA IPO application is easy. 

  1. Go to the “order book” section
  2. Pick “IPO”
  3. Click “withdraw”; that’s it!

Advantages of SCSB 

  • Gives investors the facility to apply through the ASBA process in IPO
  • Easy form fill-up 
  • Quick response from the bank and third-party applications.
  • Deal with everything online.
  • Involvement of zero complicated processes. 

How To Apply for IPO Without Having A Bank Account With SCSB? 

Only an investor’s savings and current accounts are eligible to apply for IPO with the help of SCSB. When you don’t have a bank account, you can’t apply for it. 

What Is the Amount of Brokerage to Pay for An IPO?

The amount of brokerage varies from bank to third-party service providers. However, the cost is not much, and it is customizable. 

One Last Word!

ASBA IPO application allows investors to apply for the blocking of accounts with the help of internet banking and third-party apps. In addition, it allows banks to block the funds until further allotments. 

The Best Online Trading Platform gives advantages to many and delivers the appropriate support system for applying the ASBA IPO application through SCSB. 

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