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What advantage an investor has in applying through ASBA vis-a-vis applying through an application with a cheque?

Applying through ASBA facility has the following advantages:

  1. The investor need not pay the application money by cheque rather the investor submits ASBA which accompanies an authorization to block the bank account to the extent of the application money.
  2. The investor does not have to bother about refunds, as in ASBA only that much money to the extent required for allotment of securities, is taken from the bank account only when his application is selected for allotment after the basis of allotment is finalized.
  3. The investor continues to earn interest on the application money as the same remains in the bank account, which is not the case in other modes of payment.
  4. The application form is simpler.
  5. The investor deals with the known intermediary i.e. its own bank.