Zerodha is an account broker with a low brokerage. A specific procedure is followed when closing a Zerodha Demat Account. The account will be closed within 7 business days of the closing request.
Steps to Close Zerodha Demat Account
To close your Zerodha Demat account, you can choose one of two methods. The internet media is the first, while the offline medium is the second.
Close Zerodha Demat Account Online
- Download the from Form for closing a Zerodha demat account. You can also visit the official website of Zerodha and download the form from there.
- You must now fill out the form digitally in order to complete the online closing.
- For e-signing the doc, Upload the file to digio (https://app.digio.in/ )and save it.
- On the screen, select the Sign option.
- Then select Aadhaar e-sign from the drop-down menu.
- To use the Aadhaar eSign option, enter your VID/Aadhaar Number. An OTP will be sent to the Aadhaar-registered email address or mobile number.
- To complete the e-signing process, you must input the OTP into the slot.
- After that, you can download or email the eSigned document directly from digio.
You must purchase credits from digio in order to download the document. Individual, Small Business, and Enterprise prices are all different. You must purchase based on your requirements.
Log in to Digio and select the Upgrade option to purchase credits for E-Signing your documents.
As a result, after submitting the request and e-signing the account closure form, your account closure process will be completed.
Close Zerodha Demat Account Offline
- Click on the link below to download the Account closing form for zerodha and print it out.
- Fill in the form with extreme caution. Send it to the company’s headquarters.
- Send a request letter to Zerodha Head Office along with the form to close your demat account.
Also Read: Is it safe to trade and invest on Zerodha?
Zerodha Demat Account Closure Form
The following are some details about the Closing Form:-
- Download and complete the Zerodha demat account closing form.
- In case of an offline request, print the forms pdf file.
- Now carefully fill out the fields on the form.
- The data on the forms must be filled out using block letters.
- In the first box, type your name in block letters if you only have one account.
- If the account is shared, include everyone’s names.
- Fill up your address in the form.
- While filling out the form, explain why you want to close your Zerodha Demat account.
- You must include the account holder’s name and account number, as well as your signature, if you need to transfer your stocks to a different Demat account.
- If you have a joint account, both of your signatures are required.
- You do not need to fill out the acknowledgment section at the end. The broker or a branch member would fill this out. It will serve as proof that you have submitted an application for the closure form.
- You must provide your e signature through the Digio application if you are applying for the closure online.
- You may easily log in using your email address.
Also Read: What is Dabba Trading, and How Does It Work?
Zerodha Demat Account Closure Charges
There are no fees associated with closing your Zerodha Demat account. The procedure is entirely unrestricted.
You can directly complain to the Zerodha branch if you are asked for any charges when cancelling the account.
Things to do before closing Zerodha Demat Account
Before closing your Zerodha Demat Account, there are a few things you should prepare:
- There should be no negative balance on your account.
- If your account contains any securities, sell or transfer them to another account.
- To avoid any kind of closed-form rejection, all of the requested details must be filled with appropriate values and correctness.
- You must have your DP id on hand; if you cannot locate it, you can obtain it through your Zerodha Demat Account!
- You must fill out the address of Zerodha’s headquarters if you are applying for closure in the offline mode.
Is it safe to have a Zerodha Demat Account?
Sure, your Zerodha Demat account is safe. The Demat account is opened with CDSL (Central Depository Services Ltd), one of India’s two central depositories. Zerodha’s role in a Demat account is limited to acting as a intermediary between the customer and the central depository.