Basics of Stock Market - Beginner

How do I close a demat account?

Investors have the option to open up to five demat accounts. Investors should realize that demat accounts are subject to annual maintenance changes. After a while, they will need to close the accounts.

Online demat accounts are now possible. Closing a demat account requires visiting a broker office and filling out forms.

Different types of Demat Account Closure

Closure of Account

Investors can request the depository participant to close the account if there are no outstanding funds and all payments have been paid. Investors need to:

  • Use the closure form
  • Send the completed and signed form to your nearest branch
  • You can also send a duly filled-in and signed form to the HO

Transfer and account closing

If all payments have been made and securities in the demat account need to be transferred, then the investor must:

  • Use the closure form
  • To transfer securities to another account, please fill out the Delivery Instruction Slip (DIS).
  • Original (CML), Client Master List (TargetDP) with logo, stamp and signature
  • All documents must be submitted to the branch nearest you
  • You can also send duly filled, sighed documents directly to the Head Office.

After all required documents have been submitted, the account can be closed in 5 working days.

Please ensure that you have the following:

  • All dues have been paid.
  • All forms must be completed and signed.
  • In the case of joint accounts, all holders must sign.

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