Published Article Details

How to close demat accounts

Posted by: Girija Gadre on Feb 08, 2017, 12.19 PM IST

Demat accounts attract annual fees and maintenance charges. It is a good idea to close all your inactive or zero balance demat accounts. If there are active balances, they can be consolidated into one account and the remaining redundant demat accounts can be closed.

Closing a demat account involves visiting the DP office or branch by any of the demat account holders and submission of requisite form and documents. 

Form
The account holder can download the application form from the website of the depository participant or DP.

Details
The following details need to be mentioned:
1. DP ID and Client ID
2. Existing details like name and address – it should match the records.
3. Reason for closing the account. All holders are required to sign the closure request form. POA holder (if any) cannot sign the closure request. 

Transfer
If the demat account has any balance (holdings), details of the account to which this balance needs to transferred must be mentioned in the form. The transfer can also be carried out by filling up a delivery instruction slip (DIS) before closure of the account.

Process
Once the form is submitted and is in order, it takes 7 to 10 business days to close the account. 

Charges
There are no charges for account closure.

Points to note
*If the account has any negative cash balance, it must be settled before submitting the request for its closure.


*Unused delivery instruction booklet slip should be submitted back to the DP.

(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.) 

Online Courses

Capital Markets
Basic Level
BANKING AND CAPITAL MARKETS

Get the training you need to work in the Banking and Capital Markets industry through this intensive course

Capital Markets
Basic Level
SECURITIES AND OPERATIONS PREPARATORY

This NISM preparatory training is designed to help students whowant to take the securities and operation ex

Capital Markets
Basic Level
DEBT INSTRUMENTS - BASICS

Get a complete understanding of debt instruments in India. This course is ideal for professionals who want

Capital Markets
Basic Level
EQUITY MARKETS BASICS

More people in India are investing in equities and shares creating a need for more skilled equity managers

Capital Markets
Advance Level
EQUITY LINKED STRUCTURED PRODUCTS

Structured products are used to introduce tailor-made investment options in the world of finance. Our cours

Capital Markets
Advance Level
DEBT INDICATORS

What factors affect the debt market? Learn all about debt market indicators to understand the world o

Capital Markets
Advance Level
DEBT MARKET ANALYTICS

Need help to understand the bond market? This bond valuation course simplifies debt bonds, bond yield

Capital Markets
Intermediate Level
CREDIT RATING

Poor credit ratings indicate risky investment opportunities. Learn about the concept of credit rating, its

Capital Markets
Advance Level
EQUITY VALUATION PRINICIPLES

Learn the different principles of equity valuation along with their real world applications.

Capital Markets
Advance Level
EQUITY MARKET INDICATORS

Reinforce your stock market basics by learning about equity market indicators through our online course.

Capital Markets
Advance Level
DEBT MARKETS LEVEL - 2

Understand the structure of debt capital markets and the structure of its primary and secondary markets.

Capital Markets
Intermediate Level
FINANCIAL PLANNING AND MUTUAL FUNDS

Learn to invest based on investment goals and objectives through our Intermediate course on Mutual funds.

Capital Markets
Advance Level
EQUITY MARKETS -II

Learn advanced methods of fundamental and technical analyses of financial statements in capital markets.

Other Financial products
Basic Level
BANKING AND SAVING PRODUCTS

Banking is a highly respectable career choice in India today. It is a growing sector which translates into

Other Financial products
Basic Level
DEPOSITS AND BONDS

The bond market is considered to be one of the safer avenues for investment, providing reliable and consist

Other Financial products
Advance Level
ALTERNATE ASSETS - COMMODITIES AS AN ASSET CLASS

Understand commodities as alternate assets for investing and their different types through our course.

Other Financial products
Basic Level
PERSONAL LOAN AND BUSINESS LOAN

Learn the working behind the process of issuing unsecured business and personal loans from our basic course

Other Financial products
Advance Level
BILL DISCOUNTING AND SUPPLY CHAIN FINANCING

Learn what bill discounting and supply chain financing is and its different features with our online course

Other Financial products
Intermediate Level
INTEREST MARGIN AND LENDING PROCESS

Learn how lenders make pricing and margin decisions during the corporate lending process through our course

Other Financial products
Advance Level
COMMODITIES TRADING

Learn the basics of commodity trading along with how commodity markets function via our beginner's course.<

Other Financial products
Basic Level
MORTGAGE FINANCE

Understand the need for mortgage finance along with the need, EMIs, pricing factors and repayment options.

Other Financial products
Intermediate Level
MATHEMATICS OF LENDING

Understand the concept of impaired loans and the mathematics behind lending through this online course.

Other Financial products
Advance Level
PORTFOLIO MANAGEMENT SERVICES - 1

Learn about the structure, features, operational aspects and positioning of the products on the PMS platfor

Other Financial products
Advance Level
PORTFOLIO MANAGEMENT SERVICES - 2

Learn how to construct individual portfolios and analyse risk and performance to meet investment objectives

Other Financial products
Intermediate Level
LEASE FINANCE & FUNDING

Understand the benefits of leasing assets and different types of lease finance options through our online c

Other Financial products
Intermediate Level
LOAN AGAINST SECURITIES AND INSURANCE

The course guides you to understand its types, eligibility, margins and pricing on loanagainst securities a