Before we proceed, you must ask yourself whether you want to close the account permanently or temporarily.
In case you wish to stop trading for a certain period, then the deactivation option is available. You can deactivate your Demat Account for some time and resume it later.
However, if you want to close your Zerodha Demat Account permanently, it will take a few days. We have explained the process later in this blog.
We will first start with the deactivation process.
How to De-Activate Your Demat Account?
You must know that when you de-activate your trading account, it will apply a freeze on your Demat. There won’t be any debits or credits of shares/MF’s could happen to the Demat Account.
You won’t have access to the trading platforms/Console/Q/backoffice. However, AMC and other charges will continue to levy on the trading ledger, if applicable. Also, you will still be receiving periodic email such as holding statements, account statements, etc.
To de-activate your account, follow the process enlisted below:
Process of Zerodha Demat Account De-Activation Online
You can simply e-sign the account closure form that has been already filled up by you and submit it to Zerodha’s website by raising a ticket. The process takes 5-7 working days.
Follow the steps for Zerodha Demat Account de-activation:
Step 1: Firstly, you need to fill up the account closure form using any text editor such as MS Word, etc.
Step 2: Login/Sign up to Digio
Step 3: Click on the option ‘Add Document’ and upload the account closure form.
Step 4: Next you need to click on the sign symbol.
Step 5: After entering your VID, you will receive an OTP.
Step 6: Last but not least, you need to enter the OTP you have received. After doing so, your DS (digital signature) will get affixed to the account closure form.
Step 7: Download the form and submit it by raising a ticket on Zerodha’s official website.
Note: To reactivate your account, you can write a reactivation letter to Zerodha’s head office and send it along with basic KYC (PAN, Address proof).
How to Close Zerodha Demat Account Permanently?
To close the Zerodha Demat account permanently, you need to submit the account closure form. Follow the steps as described below:
Step 1: Download the account closure form and get it printed.
Step 2: Select Close Account.
Step 3: Fill out the form and send it to Zerodha’s head office.
Step 4: You can also sign the filled account closure form digitally.
Step 5: Submit the form by raising a ticket.
Note: Account closure form takes 5-7 working days to process.
Factors to Consider While Closing a Demat Account with Zerodha
Here are a few points that you must keep in mind before you opt to close your Demat account with Zerodha:
Are there Any Deactivation Charges?
No, there aren’t any deactivation charges with Zerodha.
If you liked reading this blog, please do share it with your friends and family so that they, too, can know the process of closing a Demat account with Zerodha.