If you no longer require your Zerodha Demat Account, you have the option to either temporarily freeze it or permanently close it. But how can you deactivate your Zerodha Demat Account?
Steps to Deactivate Your Zerodha Account
If you wish to freeze your Zerodha Demat Account temporarily, follow these steps:
- Visit the official Zerodha website.
- Find the Zerodha account deactivation form.
- Select “Deactivate account”.
- Fill out the form with all the necessary details.
- Submit the form to the Zerodha head office offline or e-sign the form and create a ticket to submit the deactivation request online.
Note that if you choose to deactivate your account, you will still be charged with AMC as the invoice is not permanently closed. If you want to activate your account again, write a written request to Zerodha's head office along with ID proof and address proof
Steps to Permanently Close Your Zerodha Account
Follow these simple steps to close your Zerodha Account permanently:
- Visit the official Zerodha website.
- Navigate to the Support section located in the website footer and click on “Downloads & Resources”.
- Under the “Application Forms” section, click on “Account Deactivation/Closure Form”.
- Fill out the form digitally, providing details such as Trading Client ID, Demat BO ID, Names and Addresses of the primary account holder, and the reason for closure.
- E-sign the form using Digio.
- Create a ticket for account closure and submit the form.
To Sum It Up
In summary, even though Zerodha is a reliable trading platform, if you no longer require your Zerodha Demat Account, you can either deactivate it or close it permanently. This article has provided a step-by-step guide on how to deactivate your Zerodha Demat Account.
Can I close my Zerodha trading account along with the demat account?
Yes, you can. If you wish to close both your Zerodha trading account and demat account simultaneously, you can submit a closure request for both accounts.
What documents are needed for the Zerodha demat account closure process?
You will typically need to provide documents such as your PAN card, account statements, and possibly other identification documents as required by Zerodha.
How can I deactivate my Zerodha demat account?
To deactivate your Zerodha demat account, you can follow these steps:
Fill out the closure form available on the Zerodha website.
Submit the closure request along with the required documents, including your PAN card.
Ensure you clear any outstanding account maintenance charge (AMC charges) before initiating the closure process.
Your demat account will be closed once the closure process is completed.
Are there any charges associated with closing my Zerodha demat account?
No, there are no charges associated with closing your Zerodha demat account.
Can I deactivate my Zerodha demat account if I have mutual funds and stocks in it?
Yes, you can deactivate your Zerodha demat account even if it holds mutual funds and stocks. Ensure that you sell or transfer your holdings before initiating the closure process.
How long does the Zerodha demat account closure process take?
The time taken to complete the closure process can vary. It depends on factors such as the completeness of your documentation, pending dues, and the internal processes of Zerodha. It's advisable to check with their customer support for an estimated timeline.
What should I do if I face any issues during the demat account closure process?
If you encounter any issues or have questions during the demat account closure process, you can reach out to Zerodha's customer support. They can assist you with any queries or concerns you may have.
What's the role of DP ID in the demat account closure process?
The DP ID (Depository Participant ID) is a unique identification number assigned to your demat account provider. It's used in the closure process to identify your account and facilitate the closure request.