Zerodha Account Closure
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Are you not using your Zerodha Free Demat Account for long? Then save your annual maintenance charges by placing a request for the Zerodha Account Closure.
There is no doubt that account opening is much easier than closing it, as during account opening broker contact you many times to help you know the benefits but at the time of closing, it is you who need to follow them.
As an investor, you have a complete right to close your account whenever required by following a simple process.
Here when it comes about account closure, it points towards the Demat Account. This is because most of the broker offers the Trading Account for free.
Zerodha Account Closure Form
You can find the Zerodha Account Closure Form online in PDF form. After filling the form you can send it via post or courier to the headquarter or upload it online by raising a ticket on the website.
Zerodha Account Closure Form PDF
To download the Zerodha Account Closure form in the pdf form click here
Tick on the option of the account that you want to close with the valid reason for closing.
Sign it and send it either via post or submit it online by raising a ticket.
For those who are looking ahead to close only their commodity account without closing the Trading & Demat Account can download the form and tick the option of Zerodha Commodities Pvt Ltd.
After selecting the option sign the form digitally or by taking a print.
While submitting the form at the Zerodha headquarter or by raising a ticket online, send/attach a letter mentioning the reason for the commodity account only.
Zerodha Account Closure Form Filling
For closing the Zerodha Demat account you are required to place the request.
You can download the form from the website and fill it either using MS Word or any other text editor.
After filling the form, sign up or log in to Digio.
Upload the closure form and click on the sign icon. Enter the VID and fill in the OTP received on the registered mobile number or email.
As soon as you enter the OTP the digital signature is affixed to the closure form. Once you are done, download the form and submit by raising the ticket on the website.
In case, you are requesting the ‘closure cum transfer’ you must send the hard copy of the account closure form.
Along with the form send the CMR (Client Master Report) of the Demat Account affixed with seal and signature for NSDL accounts.
Zerodha Account Closure Online
To close the currently active Demat Account with Zerodha, you need to submit an application in the format as described by the broker. This application is then sent from DP for further processing.
Before placing the request for closing the Zerodha Demat Account here are few important points that one must keep in mind.
- Vacant the Account
Make sure that the account for which you have placed the closing request does not hold any one of your shares.
If it contains shares, then it is good to sell them off or transfer it to another Demat account. Also, you can convert those shares to physical form (rematerialization).
- Settle the Negative Balance
Check the account and ensure that it does not have a negative balance. If in case your account is going below the threshold value, settle the amount before placing the account closure request.
- Submission of Unused Delivery Instruction Slip
Submit the unused delivery instruction slip back to the DP along with the closure letter. Before that, make sure you know the correct Zerodha DP ID.
- Place Request for Dematerialization of Dead ISIN
ISIN (International Securities Identification Numbers) is a unique ID number that represents all the shares of the company.
You can transfer the live ISIN of the companies whose shares are being traded, but for the shares that no longer are traded, you must apply for dematerialization of those dead ISIN to your DP before placing the request.
The DP informs the registrar who finally issues the certificate to you.
In case of any delay in processing the rematerialization request, one can freeze the account in order to prevent paying Zerodha AMC.
In all, your Zerodha Demat Account should be completely empty before placing the request for Zerodha Account Closure.
Zerodha Account Closure Process
You can place the request for Zerodha Account Closure both offline and online.
To place an offline request, you need to download the account closure form, take a print, fill it and send it to the Zerodha head office.
For the online process, sign the form digitally, fill the form and submit it by clicking on the tab ‘Raise a Ticket’ on the page.
The process of account closure takes around 5-7 working days to meet your account closure request.
In order to close the Zerodha Demat account, you need to place a request. The account will be closed after the period of one month from the date of application or date of settlement or whichever is earlier.
*Account settlement simply means that there is no outstanding balance of shares or funds in the account for which closure request has been placed.
In case the account is dormant, it would not be closed but remain ‘inactive’ until any further request is being placed.
Just fill in a few basic details here to get started:
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