Zerodha Account Closure Process, Charges, Deactivation - Explained

Zerodha customers can close their accounts anytime by submitting a Zerodha account closure request. The process is simple. Closing the account saves you from annual maintenance charges and misuse if you do not plan to use it.

Zerodha allows you to close your account temporarily or permanently. If you temporarily close the account, you can reactivate it anytime by submitting a written request and the basic KYC documents.

---

Account Closure in Zerodha

Zerodha offers to close the account online using e-Sign as well as offline using paper forms. Zerodha takes about 5-7 working days to process the account closure request.

Steps for Zerodha account closure online

1. Login to Console.Zerodha.com using your Kite credentials.
2. Click on “Account”
3. Click on the “Segments” section
4. Scroll down and go to the “Account Closure” section
5. Click on the Close Account Button
6. Select the reason for closing and fill in the additional feedback column
7. Click on Continue
8. Accept the Terms & Conditions and proceed with the eSign process.
9. Click the “sign now” button
10. Click on the Checkbox for authorising NSDL
11. Punch in the Aadhar card number and click on send OTP
12. Enter the OTP and select verify OTP

Once the OTP is verified, the account closure process will be completed. Your Zerodha account closure request will be processed within 72 working hours.

Steps to close the Zerodha account offline.

Offline closure of non-individual Zerodha accounts is required. As per the board resolution, an authorised signatory must sign the Account Closure Form for Companies, One-Person Companies (OPC), and Limited Liability Partnerships (LLP).

The authorised signatory or Karta must sign the account closure form (PDF) for Partnership, Trust, AOP, and HUF account holders.

The signed forms must be couriered to:

Zerodha,
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru - 560078

Your Zerodha account will be closed within 7 working days, and you will receive an email notification once the process is complete. Download the Zerodha Account Closure Form.

1. Print and fill in the details in the form: name, address, trading ID, Demat ID, and reason for the closure.
2. Sign the form.
3. Courier the closure form to Zerodha Head Office.
4. Zerodha,
   153/154, 4th Cross, J.P Nagar 4th Phase,
   Opp. Clarence Public School,
   Bengaluru - 560078

Note:

• Clear all the outstanding dues. There should be no negative balance in your Zerodha account.
• There should be no securities in your Zerodha Demat account.
• Transfer or sell the securities as desired.
• Close all the open F&O positions.

Zerodha Account Closure Charges

Zerodha does not charge for account closure. However, the account cannot be closed until you clear all the dues, including annual maintenance charges.

---

Zerodha Account Closure and Transfer

Zerodha Demat's account should be empty at the time of initiating the account closure request. However, if you have any securities in the Zerodha Demat account, you can opt for the closure cum transfer process as described below.

Steps for Zerodha account closure and transfer

1. Download and print the Zerodha account closure form pdf.
2. Fill out the form with all the details.
3. Mention the beneficiary's DP ID and Client ID.
4. Submit the Client Master Report (CMR) of the target Demat account along with the signed account closure form to the Zerodha Head Office.

The CMR needs to be sealed and stamped. In the case of the NSDL beneficiary account, the CMR should be in hard copy with the seal and signature of the respective NSDL DP. The digitally signed copy should suffice if the beneficiary account is with CDSL.

---

Zerodha Account Closure on Death

In case of the death of an account holder, the nominee/successor/dependants/relatives can initiate the Zerodha account closure request. The closure process is easy when there are no securities or funds in the Zerodha account. You need to submit the below documents and the account closure form to close the Zerodha account of the deceased account holder.

• Copy of the Death certificate of the account holder.
• PAN number of the deceased account holder.
• Self-attested PAN or any other valid ID proof of the notifier.

Anyone can be a notifier, including nominees, co-owners, successors in title, legal heirs, claimants, and plaintiffs.

The account closure process will differ depending on whether the account has holdings and funds.

In the case of a joint account, the surviving holder can initiate the closure request and get the securities and funds transferred to their account by submitting the below documents:

• Annexure I;
• Transmission Form 7.2 (PDF)
• Duly filled and signed Account Closure Form.
• Notarised copy of the Death certificate of the deceased account holder.
• Sealed and stamped Client Master Report of the beneficiary account of the surviving holder.
• Self-attested ID proof of the survivor.
• To claim the balance of a deceased bank account, provide a current bank statement/savings book or a voided check from the surviving joint owner(s) if the account has a positive balance.

If there is a nominee in the account, the nominee can initiate the closure request by submitting the same set of documents as mentioned above and get the funds and securities transferred to the nominee's account.

If no nominee is appointed and the account is not a joint account, the process is a little complex as the successor has to submit the documents below based on the value of securities and funds.

• Transmission Request Form 7.1.
• Annexure I
• Notarised/Attested death certificate of the deceased account holder.
• Self-attested copy of the PAN of the beneficiary/legal heir/applicant/deponent/claimant
• Sealed and stamped CMR of the beneficiary account.
• Cancelled Cheque and bank statement not more than 3 months old of the successor.
• Letter of Indemnity/copy of Family Settlement Deed/Affidavit.
• NOC (PDF) from all non-claimants or a notarized family settlement deed that includes all legal heirs. An NOC is not required if a single person makes a claim to the succession through the BOI. The non-applicants are the first party and Zerodha Broking LTD would be the second party.

In any scenario, all the documents should be sent to the Zerodha head office to process the closure request. If all the documents are correctly submitted, Zerodha takes 15 days to process the transmission request.

Account Closure in Case of No Holdings

In cases where there is no holding, the successor or notifier can submit the mentioned documents to proceed with the account closure.

• Account Closure Form
• The death Certificate of the deceased was attested by a gazetted officer.
• Copy of Self-Attested PAN of nominee or successor.

All these documents should be sent to the courier at the below-mentioned address

Zerodha,

153/154, 4th Cross, J.P Nagar 4th Phase,

Opp. Clarence Public School,

Bengaluru - 560078

---

Check Zerodha Account Closure Status

Zerodha takes 5-7 working days to process the closure request. You will receive a mail from Zerodha to confirm the account closure. However, in case of no communication from the company within seven days, you should open a support ticket or follow up on the Zerodha account closure ticket to get a status update.

---

Check Zerodha Account Closure Status

Zerodha typically processes account closure requests within 72 working hours. If you don't receive a confirmation within seven days, you can open a support ticket or follow up on the closure ticket.

Zerodha Account Deactivation

Zerodha offers its clients to close/freeze their accounts temporarily. This temporary closure of an account is called account deactivation.

If you need to temporarily stop trading and resume it later, you can deactivate it by using the Kill Switch feature.

• Deactivation of your trading account means that your account will be deactivated, and the demat account will be frozen. This means that no credits or debits can happen to the demat account.
• You will not have access to Kite and Console. However, AMC and other such charges will continue to be levied on the trading ledger, if applicable.
• Although your account is deactivated, you will continue to receive periodic emails such as account statements, holding statements, etc.

Steps to Deactivate Zerodha Account

• Login to console.zerodha.com with kite credentials
• Select the “Accounts” Tab
• Click on the “Segment” tab
• Click on the toggle button for a particular segment or select all segments
• Click on Continue
• To deactivate, a dialogue box will pop up seeking your confirmation. Click on the "Continue" button to confirm the deactivation process.
• Once you click continue your deactivation process will be completed and the account will be deactivated within a few minutes.

Zerodha Account reactivation process can be done anytime you wish using the same client code by sending a written request to Zerodha's Head office along with ID proof and address proof.

Steps to deactivate Zerodha account Offline

• Download the Zerodha account deactivation form.
• Tick on Deactivate account and fill out the form.
• Submit the form to Zerodha's head office.

Zerodha,

153/154, 4th Cross, J.P Nagar 4th Phase,

Opp. Clarence Public School,

Bengaluru - 560078

You can also e-sign the form and create a ticket to submit the deactivation request. It will take 72 hours to process your request.

It is important to note that you will not be able to access the Zerodha Kite, Console, or Coin platforms while your account is in deactivated mode.

Zerodha also offers to deactivate/disable a particular segment using the Kill switch feature in the Zerodha Console.

---

Zerodha Commodity Account Closure

Zerodha has one common form to close the accounts across Equity/F&O and Commodity either temporarily or permanently. There is no separate Zerodha commodity account closure form.

To close the Zerodha commodity account, you need to tick on Zerodha Commodities Private Limited in the account closure form and submit the form by following the same process as in the case of any other closure.

---

Conclusion

You can close your account in Zerodha online permanently or temporarily by e-signing the account closure form with ease and at your convenience. It is advisable to close the account permanently if you are not using the same. The temporary closure of the account puts a freeze on your account. However, you are still liable to pay the AMC charges. It is important to note that a dormant account does not mean a closed account. You need to initiate a closure request to close such accounts.