How to Close Sharekhan Demat Account?

Possessing a Demat but not using it for an extended period of time can result in a loss. If you have a Sharekhan Demat Account that you do not use or cannot afford to maintain, you should apply to have it closed. Since the account is always charged the annual maintenance fee of $400.

Steps to Close Sharekhan Demat Account

Closing a Demat account is handled differently by different brokers. On the Sharekhan Demat account, there is just one option for terminating an account: the offline approach.

  • For downloading the account closure form directly click account termination form for sharekhan
  • The Account Closure Form should be printed.
  • Fill in the form’s details in block letters.
  • Sign the document as a declaration that you intend to close the account and submit it to the Sharekhan branch.
  • Your account will be canceled in 7 business days.

Sharekhan Demat Account Closure Form

The following are some details and instructions for completing the form:

  • Get the Demat account closing form from Sharekhan.
  • Print the form by downloading it as a pdf file.
  • Now carefully fill in all of the form’s fields.
  • Block letters must be used throughout the application.
  • If you only have one account, fill in the first box with your name in block letters.
  • You can do the same thing with the names of the people on a joint account.
  • Complete the form with your details.
  • Before you fill out the form, explain why your angel Demat account was closed.
  • Provide the account holder’s name and account number, as well as your signature, if you need to transfer your stocks to another Demat account.
  • Both people must sign the document in the case of a joint account.
  • The branch members will fill out the final portion, and you will receive a receipt as well as a confirmation letter indicating you have applied to close your Sharekhan Demat account.

Also Read: Is it safe to trade and invest on Sharekhan?

Sharekhan Demat Account Closing Charges

Your Sharekhan Demat account can be closed without charge. It is entirely free of charge.

Some sometimes ask for fees in the hopes of assisting the client in closing the account sooner, but this is inappropriate.

To avoid such scam, you can immediately contact the Sharekhan Demat account head office.

Things to do before closing Sharekhan Demat Account

Before closing your Sharekhan Demat Account, there are a few things you should prepare:

  • If you don’t thoroughly fill out all of the details on the closure form, it will be denied.
  • Your DP and client ids must be remembered.
  • When applying for the closer, sell or transfer your previous stocks.
  • Check to see whether your account has a negative balance.

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Frequently Asked Questions

What is the time frame for closing a Sharekhan trading and Demat account?

It takes 7 business days to process the account termination form. The organization will send you a confirmation letter of account termination within 15 days. Contact customer care to check on the progress of your application.

How can I transfer shares from a Sharekhan Demat account to another?

To begin, fill out the DIS slip. Verify that all of the fields are correct, including the target client ID. Your completed DIS can be sent to your present broker. Before continuing with the process, make sure the current Broker has acknowledged your request.

Can I close a Sharekhan Demat account with a negative balance?

Negative charges on a Sharekhan Demat account cannot be closed. Before cancelling the account, you must settle the charges. If you do not pay your negative debt on time, you may be charged extra interest.

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