Private Banking FAQs

What are the areas of investments that you offer?

You can invest through Enable Invest in money market, equity, bonds, structured products, equity mutual funds, fixed income mutual funds, balanced mutual funds, and capital protected products.

How can I open an investment account with Enable Invest& what documentation do I need to open an investment account?

To serve our clients, we prefer if you first speak with our representative to make sure we can accommodate you. Please contact us at any time to discuss it with you. After that, we can personally work with you to quickly arrange for all the documentation needed.

On what basis do you operate joint accounts?

In case of a joint account the terms and conditions associated with it will apply to both account holders, i.e. both together and separately.

How do I transfer my account from another broker?

Transferring an account from one brokerage house to another is a simple process. For the US Markets the process is supported by the Automated Customer Account Transfer (ACAT) system. To transfer your account, you fill out an ACAT form with us as your new broker. We will generally require a copy of your statements from the old brokerage house, plus some additional proof of identity. The transfer will be made within 5-10 business days for regular accounts. The paperwork starts the process, but thereafter it is all done electronically. In case of other markets, normally a simple instruction from you to your old broker instructing them to transfer your shares to Enable Invest will suffice.

Will I receive a statement of account?

Yes, statements will be issued to you in accordance with your request i.e. annually, semi-annually or monthly. In the event that you have a query about your statement or you do not receive your account statements, please contact your client representative immediately.

Do I need to have sufficient funds in my account before I place an order?

Yes, you must have sufficient funds or the bank must provide you with sufficient facilities to pay for the transaction. In case you have the funds then you can send an order in writing or by fax.

I want a good return and no risk.

You should be aware that everything carries risk and anything that does worse than inflation over the long term is losing money.

How do rising interest rates and inflation affect investments?

For most stocks and bonds, particularly growth-style stocks, rising inflation will have an adverse impact on the value of the security. Inflation decreases the value of future cash flows associated with both growth stocks and fixed income investments. Specifically for bonds, rising interest rates will decrease the value of a bond while falling interest rates cause bond prices to rise. Why this inverse relationship? Let us say you have a 6% bond and interest rates fall from 6% to 5%. The price or value of your 6% bond will rise because other investors are now willing to pay a premium to receive a 6% coupon payment over the currently offered 5% coupon payments.

What if I have more questions, whom shall I call?

You can e-mail all your queries by clicking Mail on the top right hand corner of your screen or you may call your private client representative.

Lending Products FAQs

What types of Lending Products are offered by Enable Invest?

On a selective basis, the following are the types of lending products offered:
·  Money Overdraft
·  Trust Receipt Financing
·  Commercial Loan
·  Cheque Discounting
·  Export Bills Discounting
·  Letter Of Credit
·  Packing Credit

What is an Overdraft?

An overdraft is a credit facility aimed to meet the account holder's short term financial requirements. We offer our clients an overdraft facility against their assets maintained with the Enable Invest whereby they may borrow on a continuing basis and they pay interest only on the amount and the period it is utilized.

What is a Trust Receipt?

Sometimes, due to the timing mismatch in receipt of sales proceeds and payment terms for imports, Enable's import customers are offered financing of imported merchandise whereby the supplier needs to be paid.

What are Commercial Loans?

Selectively, Enable provides medium term loans (from one to five years maturity) depending on the customer's financial requirements, the use of the funds, and the ability to pay back through its own sources, etc., amongst other considerations. Customers can borrow money from the bank to finance day-to-day operations like inventory financing, overheads, etc. or to bridge any mismatches with sales receipts.

What is Cheque Discounting?

Enable provides finance against the presentation of either a postdated cheque from acceptable parties wherein the Drawer has already accepted to pay on a certain date.

What is meant by Export Bills Discounting?

Enable also provides customers loans against Foreign Bills under Letter of Credit. If the documents presented by exporters are acceptable under the terms of the relevant letter of credit, the bank may provide value to the exporter in the domestic currency before receiving funds from the LC opening bank.

What is a Letter of Credit?

A written undertaking by the bank issued at the request of an applicant (importer) to pay a fixed sum of money on a specific date to a specific party (beneficiary/exporter) subject to the receipt of specified commercial and/or financial documents listed in the Letter Of Credit. The bank issues Irrevocable Letters of Credit, the terms of which cannot be amended after issuance until the beneficiary, the applicant and the bank agree to the changes. Nouveaux issues LCs in accordance with Uniform Customs and Practices for Documentary Credit Publication No. 500 of the International Chamber of Commerce.

What is a Packing Credit?

The bank provides this type of financing to help the exporter to mobilize funds for production of goods to be exported.