How to close Anand Rathi Demat account?

If your holdings are scattered across demat accounts, you can close all inactive and zero balance account and transfer all the holdings in one demat account. After this consolidation customer can save annual charges on multiple demat accounts.

Closing a demat account is just a few step process but account holder has to visit the DP office or nearest branch to submit the closing form as it's completely offline. Customer cannot request the account closure via email, phone or online.

After the transfer has been completed and all the holdings credited in single demat account, all other demat accounts with zero balance can be closed by submitting account closure form.

Steps to close the Anand Rathi demat account:

1. First Download the form and print it. The form can be downloaded from DP website or you can get it from any nearest branch. Also, you can download it here.
2. Fill all the mandatory detail like DP ID, client ID, name, address and reason for closing the account.
3. All the account holders have to sign the form. A POA holder cannot sign the form.
4. Submit it to the nearest branch or courier it to their HO.

Before submitting the request below things have to be taken care by account holder:

1. There should not be any shares in your account. If there are any, then you have to transfer it, sell it or remat it.
2. There should be no negative balance in your account. If there is any, you have to clear it.
3. Generally, it takes 7-10 days to complete the account closure process. There are no charges applied for closing the demat account.

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