Not using your Demat account anymore? Learn how to close a Demat account in India with our step-by-step guide. Avoid AMC charges and simplify your financial management today.
Documents Required to Close a Demat Account
To close a Demat account in India, you typically need the following documents:
* Account Closure Form (available from your DP or broker’s website)
* Client ID and DP ID
* Self-attested copy of PAN card
* Self-attested address proof (Aadhaar card, passport, etc.)
* Original unused Delivery Instruction Slips (if any)
* Signature(s) of all account holders (for joint accounts)
How to Close a Demat Account – Step-by-Step Process
Step 1: Download or Collect the Closure Form
Visit your broker’s official website or local branch to obtain the Demat Account Closure Form. Brokers like Zerodha, Upstox, ICICI Direct, Angel One, and Groww provide downloadable forms.
Step 2: Fill the Closure Form
Carefully enter the following details:
Depository Participant ID (DP ID)
Client ID
Name(s) of the account holder(s)
Reason for closure (optional)
Transfer details (if transferring shares)
Step 3: Attach Required Documents
Enclose self-attested copies of your PAN card and valid address proof with the closure form.
Step 4: Submit the Closure Form Physically
Submit the completed form and documents physically to your DP’s head office or nearest branch. As per CDSL and NSDL regulations, Demat accounts cannot be closed online entirely at present.
Step 5: Receive Confirmation
Once your request is verified, the Demat account will be closed within 7 to 10 working days. You will receive an official confirmation via email or post.
Can a Demat Account Be Closed Online?
As of 2025, most brokers in India do not allow complete online closure of Demat accounts due to regulatory guidelines from CDSL and NSDL. However, you can:
Download the closure form online
Fill and sign it
Send it via courier to the registered address of the broker
Important Points to Remember
All account holders must sign the closure form if it is a joint account.
Ensure no holdings or negative balances remain in the account before submitting the closure request.
Keep a copy of the submitted form and documents for your records
Final Thoughts
Closing a Demat account in India helps avoid fees, reduce clutter, and secure investments. Follow proper steps and documentation, especially when switching brokers or consolidating multiple accounts for better management.
