Zerodha is an account broker where brokerage is very less. Closing a Zerodha Demat Account follows a certain process. And within 7 business days of the closing request, the account will be closed.
Steps to Close Zerodha Demat Account
There are two different mediums available to close the Zerodha Demat account. The first is the online medium and the second one is the offline medium.
Close Zerodha Demat Account Online
- Download the from Zerodha demat account closure form. You can also visit the official website of Zerodha and download the form from there.
- Now for online closing, you need to fill the form digitally.
- For e-signing the doc, Upload the file to digio (https://app.digio.in/ )and save it.
- Select the ‘Sign’ option on the screen.
- After that tap the ‘Aadhaar e-sign‘ option.
- Enter your VID/Aadhaar Number to authorise the Aadhaar eSign option. An OTP will be delivered to that Aadhaar’s registered email/mobile number.
- You have to enter the OTP on the slot to complete the e-signing procedure.
- The eSigned document can then be downloaded or emailed directly from digio.
For downloading the document, you have to buy credits from digio. The pricing varies from Individual, Small business, and Enterprise. You have to purchase according to your need.
To purchase credits for E-Signing your documents, log in to Digio and select the Upgrade option.
Thus, your process for closure of the account will be completed after submitting the request by e-signing the account closure form.
Close Zerodha Demat Account Offline
- Click on the link below to download the zerodha account closure form and print it out.
- Fill out the form with utmost care. And send it to their corporate headquarters.
- Along with the form, submit a request letter to close your demat account to Zerodha Head Office.
Also Read: Is Zerodha Safe for Trading and Investing?
Zerodha Demat Account Closure Form
Below are some details regarding the Closing form-
- Download Zerodha demat account closure form and fill it out
- Take a printout of the form’s pdf file in case of offline request.
- Now carefully fill out the form’s fields.
- Block letters must be used to fill out all of the form’s data.
- If you only have one account, type your name in block letters in the first box.
- If the account is a shared one, mention all the names.
- In the form, enter your address.
- Mention why you want to close the Zerodha Demat account while filling out the form.
- If you need to transfer your stocks to a different Demat account, you must include the account holder’s name and account number, as well as your signature.
- If you have a joint account, both of you must give your signatures.
- The last section contains an acknowledgment that you do not have to fill. That would be filled by the broker or the branch member. It will be given as a receipt that you have applied for the closure form.
- If you are applying for the closure online, then you have to give your e signature through the Digio application.
- You have easy login through your mail I’d.
Zerodha Demat Account Closure Charges
You don’t have to pay any charges while closing your Zerodha Demat account. The process runs completely free.
If you are asked for any kind of charges while closing the account, you can directly complain to the Zerodha branch.
Things to do before closing Zerodha Demat Account
Here are few things that need to be prepared before requesting your Zerodha Demat Account closure:
- Your account should not have any kind of negative balance.
- In case there are any securities in your account, sell or transfer it to another account.
- All the asked details must be filled with appropriate values and correctness to avoid any kind of rejection of the closed-form.
- You must have your DP id with you, in case you are unable to find that, you can get it from your Zerodha Demat Account itself!
- If you are applying for closure in the offline mode, you need to fill up the address of the headquarters of Zerodha.
Is it safe to have a Zerodha Demat Account?
Yes, your Demat account with Zerodha is secure. CDSL (Central Depository Services Limited), one of India’s two central depositories, is where the Demat account is opened. In a Demat account, Zerodha’s responsibility is confined to acting as a middleman between the consumer and the central depository.