How to close Sharekhan Demat account?

The Sharekhan demat account involves brokerage fees, transaction fees and maintenance fees. So it's wise to close inactive demat account. Closing a demat account is a very simple process. It involves visiting the DP office or branch and submission of the form and supporting documents.

For closing the Demat account, you need to fill up an Account closure request form. You can download it on your DP's website or from your broker website. There are a few conditions which need to be fulfilled:

1. There should not be any security in your demat account, else transfer them before submitting closure request.
2. All account holders must sign the request letter.
3. Any negative cash balance of your account, non-payment of the previous account, maintenance charges needs to be cleared.
4. Also, you need to submit back your unused delivery Instruction booklet slips.

Once submitted, mostly it takes 2 to 3 days for the account to be closed. There are no charges for account closure.