Step 1 - Download the Demat account closure form from your depository participant’s (bank or investment agency) website. Process to close a demat account in case of account closure: Transfer and account closure: If there are pending securities that need to be shifted to another Demat account then the procedure is slightly different.Account closure: When there are no pending payments or holdings in the investors’ account, a request can be raised with the concerned depository partner(DP) to close the Demat account online.There are two types of Demat account closures: Hence, it's a good idea to avoid any unnecessary expenditure and close your Demat account online. An unused Demat account is a drain on finances and attracts annual fees and maintenance charges. However, as big as numbers might be SEBI has also shown that almost 75% of accounts are dormant. With a growing economy, more people are looking to get on the stock exchange train. In its most basic form, it is nothing but an electronic account to hold shares and securities. For investors trading in the securities markets, it is compulsory to have an online account.Īccording to SEBI, there are around 44.46 million Demat accounts in the country. Demat or Dematerialised accounts are a great way for most people to make money on the side.
