How to Close Upstox Account?

Nowadays, having a Demat account is commonplace. If you are not utilizing your Demat Account, it is best to close it. The same holds true for an Upstox Demat account. If you are no longer using your Upstox Demat account, you can close it online using the Upstox mobile app or web portal by submitting an Account Closure request.

Steps to close / Delete Upstox account

If you’re using an earlier version of the Upstox app, follow these instructions:

  • Install the Upstox app first. Log in with your Upstox login and passcodes (6-digit UCC).
  • Now, in the upper left corner of the app, tap the Profile symbol.
  • In the upper left corner of your screen, select the Name or My Account option.
  • You will now be directed to the Account page.
  • Scroll down until you reach the Account Closing section. Close the account by clicking the button.
  • You will be taken to the confirmation page after clicking close account.
  • Click the generated link to complete the account termination process. You will then be taken to the closure page.
  • Account Closure Request will be displayed.
  • Select the reason for the closure from the drop-down menu.
  • The Close Account button at the bottom will become active once you’ve entered all of the info.
  • Close the account by clicking the button. It will take 7 to 8 days to erase your account after you send the account closure request.

If you’re using the most recent version of the Upstox app, you should do the following:-

  • Sign in with your 6-digit Pin or biometric data in the Upstox app.
  • Click Avatar / Name Initial in the upper left corner of your screen.
  • Choose the Account option first, followed by the Profile option.
  • You must select See all from the Account menu.
  • Click the hamburger icon in the upper left corner to open a side menu button.
  • Choose Account Closure from the drop-down menu at the bottom of the side menu bar.
  • You’ll be brought to the Closing section after clicking the Account Closure link. To close the account, click the close account tab.
  • You will be taken to a registration page.
  • If you want to close your account, go to the verification page and click the created link. You’ll be directed to the closing page.

After clicking the closure link, please continue with the processes.

  • You’ll be redirected to the Account Closure Request page.
  • From the drop-down menu, choose the reason for the closure.
  • The Close Account button at the bottom will turn green once you’ve finished accessing all of the information.
  • Close the account by clicking the button. It will take 7 to 8 days to remove your account after you submit the account closure request.

Also Read: Is Upstox Harmless?

Upstox Demat Account Closing Form

There is no closing form in the Upstox. Hence you’ll have to use an online approach to close the account.

Upstox Demat Account Closing Charges

Your Upstox account can be cancelled for free.

The firm does not charge a fee for canceling your Demat/Trading account. Simply pay your bills and transfer any securities you have in your Upstox Demat account.

Your closure request will almost probably be denied if your Upstox account has a negative balance, open positions, or securities, as previously mentioned.

Also Read: [Upstox App Isn’t Working?

Things to do Before Closing Upstox Demat Account

When seeking the closure of your Upstox Demat Account, you need have the following items ready:

  • You must pay off all past-due accounts.
  • Make certain that all F&O trade positions are closed.
  • You must sell or transfer your Demat account holdings before closing.
  • You should redeem any mutual funds in your account.
  • When attempting to close your account, be sure there are no remaining Digi Gold balances.

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Frequently Asked Questions

Is the Upstox Demat account safe?

Upstox (RKSV) has been invested in by Ratan Tata, Kalaari Capital, and GVK Davix, making it a safe and reliable brokerage for your money. Upstox is one of India’s most affordable brokers, especially for traders.

What if I do not shut my Demat account?

Your Demat account becomes dormant (inactive) after a period of time. This means you won’t be able to make any purchases until it’s reactivated. You must pay a reactivation charge of Rs 500 and pay off all outstanding bills (AMC + interest) to reactivate. You must first revive a inactive Demat account before closing it.

Does Upstox have a demo?

You can utilize the Upstox Pro Digital Platform’s free Demo without establishing an account to get a sense for the biggest trading platform in India. The Upstox Demo platform and the Upstox Guest Login require an Upstox Guest Login.

How can I reach the customer support of Upstox?

If you have any problems with Upstox. Simply phone +91-22-6130-9999 or email sales@upstox.com, and a customer service representative will contact you shortly.

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