How to Delete Demat Account

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Asked on January 17, 2023 6:43 am
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A Demat account is an account used to hold and manage securities such as stocks, bonds, and mutual funds in electronic format, rather than in physical form. To delete a Demat account, you will need to follow these steps:

Gather all necessary documents such as PAN Card, Address proof, ID proof, and Cancelled Cheque.

Contact the Depository participant(DP) where you have opened your Demat account, it could be a bank or a brokerage firm.

Fill up the account closure form and submit it along with the required documents to the DP.

Wait for the DP to verify the details and process the account closure.

Once the account is closed, the DP will send you a confirmation of the same, and all your securities will be transferred to your bank account linked with your Demat account.

Please note that before closing the account, you should ensure that there are no pending transactions or holdings in the account.

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Posted by (Questions: 1004, Answers: 1011)
Answered on January 17, 2023 11:41 am