How to close the demat account?

Many investors and traders hold multiple demat accounts with different brokers depending upon needs.

Your stockbroker levy account maintenance charges every year for maintaining your demat account. It is always better to close a dormant account to save extra charges that would be levied for your demat account maintenance.

Read more: How to transfer share from one demat to another

There is numerous reason why you might want to close your demat account.

• Want switch to another stockbroker
• High Brokerage & other charges
• Customer services poor
• Lack of service and features

This article will explain how you can close your demat account with any stockbroker in India to ensure a seamless transition.

Demat Account Closing Process WIth Stock Broker

Demat Account closure form

First, you have to get the demat account closure form directly by visiting the stockbroker branch or you can download it from the website of your stockbroker. We have listed direct links for the demat account closure form of all the popular stockbroker India.

Reliance Securities Account Closure Form	Bansal Finstock Account Closure Form
Sharekhan Demat Account Closure Form	Ventura Securities Demat Account Closure Form
HDFC Securities Demat Account Closure Form	Religare Securities Demat Account Closure Form
ICICI Direct Demat Account Closure Form	SBI Securities Demat Account Closure Form
Axis Bank Demat Account Closure Form	Kotak Securities Demat Account Closure Form
Angel Broking Demat Account Closure Form	Indiabulls Demat Account Closure Form
Motilal Oswal Demat Account Closure Form	India Infoline (IIFL) Demat Account Closure Form
Zerodha Demat Account Closure Form	Aditya Birla Money Demat Account Closure Form
Upstox Demat Account Closure Form	Bonanza Online Demat Account Closure Form

Filling account opening form

Now you need to fill up the account closure form with all required details as:
B.O. ID (16 digits unique code) which includes your 8 digit DP ID and 8 digit client ID & other basic information. You can get all these details from the demat account back office login. Here is how the account closure form looks like:

Holding Transfer Shares

At the time of filling the account closure form, you can transfer your holding to another demat account. You have to enter the target client id of a new demat account in which you want to transfer your holdings.

Clear all dues & funds

Before submitting the application make sure that there is a no due pending due balance, it must be settled before submitting the account closure request otherwise your request for demat account closure will get rejected.

Submitting account closure form

Once you are done with filling the DIS slip, Now you need to submit your account closure form to your stockbroker. Don’t forget to take an acknowledgment slip of the filled account closure form.

Final Thought

Once the account closure application request is received by your broker, your stockbroker will transfer the remaining fund balance for your linked bank account. stockbroker doesn’t charge for demat account closing.

After completion of this process, you will get intimation regarding demat & trading account closure over email/letter.

If the confirmation letter fails to reach you within 15 days, you may contact your local branch and follow up on the status.