How to close 5paisa Demat Account?

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Demat accounts attract annual account maintenance charges (AMC). So it is a good idea to close an inactive or dormant account. In case you have many accounts, you can merge all the securities into one account. This will help you save AMC and hassle of managing multiple demats.

Whatever be your reason for closure, you can close your Demat Account with 5paisa at any time. You don't have to pay any fees or charges for closing your Demat account. The process could take a few days as it's not online.

Before you start your 5paisa Demat account closure, you need to know 2 key facts:

1. Online demat account closing is not an option with 5paisa.
2. If you have a joint account then all the holders need to sign on the form for its closure.

Also, there are a few things; you should do before to speed up your account closure process:

1. Close all your open F&O positions in the market.
2. Sell or transfer your demat holdings.
3. Pay all pending dues, if any, with the company

Steps to close 5paisa Demat Account

1. Call 5paisa support desk or send email to support@5paisa.com to inform them that you are interested in closing the account
2. Download the 5paisa Account Closure Request Form.
3. Fill the form by following instructions given in it.
4. Attach all the required documents like unused DP slips, if any.
5. Sign and send the paper form to the address provided.

Note

1. Follow up with the customer care after a week of submission of the application to know the status.
2. You will receive intimation for account closure and a final statement.