A Demat account is now becoming mandatory for equity or date-related financial instrument investment. But after having a Demat Account if you don’t use it, then it is better to close the account. The Angel One Demat account required maintenance charges, even if you don’t use it. The Account closing procedure of Angel One goes as follows.
Steps to Close Angel One Demat account
The most basic information about closing an Angel One Demat account is that the whole procedure of the closure would be offline manually.
There is no such online option on any website to close your Demat account. It can’t be closed via email without being physically present.
- You can download the Account closure form by visiting Angel One’s official website. You will get it under ‘Important Document Section’.
- Also, you can download the form by clicking here.
- Fill or sign the form. In case it is a joint account, all the account holders have to sign on it.
- Further submit your details in papers through courier. Otherwise by visiting the branch of the company.
Angel One Account Closure form
- Download the pdf of the form and take a printout of the same.
- Now fill all the details carefully in the form.
- All the details in the form must be filled in block letters.
- If you are a single account holder, get your name written in the first box in block letters.
- If it is a joint account you can add the names of the people in the same way.
- Fill up your address in the form.
- Preceding the form, Mention the reason for the closure of your angel Demat account.
- If you have to transfer your stocks to another Demat account you need to mention the name of the account holder. Also you need to mention the account number along with your signature.
- In the case of a joint account holder, both the people need to give their signature in the form.
- The last section would be filled up by the broker, sub-broker, or by Angel itself.
- The recipient will work as a record that you have a life for your closure of the account.
Also Read: Is Angel One safe for Trading and Investing?
Angel One Demat Account Closing Charges
Angel One takes no charges for the closing of the Demat account. It’s completely free of cost. After submitting the closing request, your account will be closed within 3-7 business days.
In case if any executive asks you for a charge for your closure then you must file a complaint with the broker. You should not give any amount when you are asked for.
Things to do before closing Angel One Demat Account
Here are few things that need to be prepared for requesting your account closure:
- All the details entered in the Account Closure Form must be filled in error-free manner. It will help to avoid any rejection.
- You must have your DP id and client id.
- The existing details like names and other things should match the previous records.
- Your account must not consist of any shares. Transfer or sell all your securities from your account in case of any.
- You should be sure that your account doesn’t have any negative balance.
Frequently Asked Questions
How do I complain about Angel One?
If you face any problem with Angel One, you can contact Angel One customer care. Also, you can register a complaint to the Angel One compliance team. The Angel One customer care number is 022-3355-1111 or 022-4218-5454. To raise a complaint, you need to send an email to the Angel One compliance team. You can send any complaint to email@example.com. Your issue will be registered and solved soon.
How much does it require to close your Angel One Demat account?
If you have applied for angel One Demat account closure, then it mostly closes within 3-7 business days. Sometimes it requires 2 weeks after the submission of the request. After 2 weeks, you can confirm your account closure by reaching out to customer care.