How To Close Demat Account Online? If you have your Demat account and wish to close it. As a result in this blog, you’ll get the solution on how you can close your Demat account online for free. Demat account is compulsory if you want to trade. One can hold a maximum of 5 Demat accounts.
If you do not close your Demat account and leave it as it is. Then Annual Maintenance Charges, DP charges may be accumulated on your account and at the end you may have to pay a huge sum to get rid of it. So it’s smart to close your account if not in use. Brokers can even directly withdraw the charges from your bank without informing you.
Demat Account is the short term for Dematerialisation Account. This account is used to trade online into shares, bonds, government securities, Mutual Funds, Insurance and ETFs.
Traditionally, to close a Demat account one has to visit the main office and do all the paperwork. However, now you can follow these simple easy steps and get your account close at your fingertips.
In this paragraph, you’ll learn how to close your Demat account online without any paperwork and Zero Fees. Below I’ll share my experience on how I closed my Demat account online.
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How To Close Kotak Securities Demat Account Online?
In this paragraph, we’ll discuss how you can close your Kotak Securities Account Online. Firstly to close your Demat account your ledger balance should be zero, if you’ve any holdings sell them or you can transfer them to some other Demat account that you hold. You don’t need to fill any form or visit any office. Secondly, write an e-mail to Kotak Securities: firstname.lastname@example.org and email them that you want to close your Demat account. Mention your client id and client code in the e-mail Below I’ll share the email which I sent.
After that, you’ll receive an email from Kotak Securities if you have any pending balance in your ledger and if not they’ll process your request and within 7-10 days your Kotak Securities Demat Account will be closed.
How To Close Motilal Oswal Demat Account Online?
The process of closing Motilal Oswal Demat account is the same as Kotak Securities. Firstly you need to make sure that you’ve Zero Fund Balance in your ledger. And you need to sell all your holdings or transfer them to some other Demat account that you hold. Secondly, you don’t need to write an email to Motilal Oswal. Yes, you heard it right. You just need to call their customer care: +91 22 6749 0600 and ask them to close your Demat Account associated with Motilal Oswal and your account will be closed within 7 – 10 working days.
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