How to close IDBI Capital Demat account?

Zerodha (Trade with the best stock broker)

Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.

IDBI Capital offers a 3-in-1 account wherein trading, demat, and bank accounts are linked together. If for some reason, you wish to close these accounts, then you can do it anytime. The account closing is a little tedious process in compare to account opening. The main difference between both the processes is when someone tries to open an account then broker continuously follows with them but during the account closure process, a person needs to follow with the broker to get their work done. But keeping unused account also doesn't make any sense as demat account attracts annual maintenance fees. So it's advisable to close all your unused or zero balance account.

Steps to follow:

  1. Get the form from their website (Customer Services--? Service Requests-? Trading and Demat closure form) or click here to download it and print it
  2. All the necessary detail should be filled with signature
  3. Submit the form to the nearest branch or courier it to the mentioned address in the form
  4. All the account holders have to sign the form in case of the joint account

In case if you do not get any confirmation in 2 weeks, follow up with the customer support

Things to remember:

  1. Transfer shares in other demat accounts
  2. Clear all the debit and credit balance with the company
  3. Clear all F&O positions

The account closure process needs to be done offline. It cannot be done via email or phone.


Add a public comment...