How to close Demat account online?

We find ways to trade and invest when we make the decision to do so. As time goes by, we forget and get lazy and leave things to chance. This can be costly.

Demat account are subject to fees and maintenance costs. It is a good idea to close any inactive or zero balance Demat account. We risk losing our money. It is important to understand how to close a demat bank account.

Angel One makes it easy to close a demat account. It's easy and free!

Before You Close your Demat Account

You cannot close a demat account online by simply submitting an email request to account closure. An application must be submitted in person. This includes providing a copy of all necessary paperwork. You can ease the process by downloading the closure form online.

There are some steps you need to follow if you want to learn about how to open a Demat account online.

1. Check that there aren't shares in your account.
2. Check that their account has no negative balance. You can check the details of your account by logging into your account or contacting your registered branch.
3. The Account Closure form can be downloaded from Angel One's website in the "Important Documents" section.

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How to Deactivate A Demat Account

Complete the Account Closure Form. If there is more than one demat account holder, all holders must sign the closing form in the presence a Depository Participant official (DP). A brokerage firm or a bank can serve as the DP.

When submitting your closing form, make sure to include the following information:

• Your ID and the DPID
• Your records may include KYC information such as name and address.
• Describe the reason you want to close the Demat account.
• The bank official must sign and authenticate the copy of self-attested identification proof. This is mandatory.

Ensure that you return the unused section of the delivery instruction slip slip to the DP.

You must submit the form in person to the branch nearest you. An authorized signatory of the institution can transfer or close corporate accounts.

What to do if you have any remaining Demat holdings

1. Fill out the closure form by downloading it.
2. To transfer securities remaining in an account to another Demat account, fill in the delivery instructions slip (DIS). The names and details of Demat account holder on old and new must match.
3. Send the client master from the central deposit of the new account. This will allow you to submit the transfer proposal along with the appropriate stamp, signature and logo.
4. Send the closure form and the DIS, CML and any other documents to the nearest branch.