How to close India Infoline demat account?

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If you want to trade in shares, you need trading and demat account. IIFL offers both the account to its customers. It's advisable to have the demat and trading both the account with the same entity to avoid any settlement issue. If the demat account is not in use, you should close the account as it attracts annual fee and maintenance fees. If you have any security lying in that account, it's a great idea to transfer in other demat accounts which you are using it actively.

Steps to close the demat account

1. First, you have to submit the application. You can download it from the DP website and print it. Or click here to download the form.
2. Fill all the basic information like client ID, DP ID, name, address and the reason for closing the account.
3. All account holders should sign the form.
4. Submit the form to the nearest branch or courier it to the address given in the form. After submitting the form, it will take about 7 to 10 days to process the request.

Please Note:

1. The account should be clear. If there is any debit or credit balance on the account, they have to be settled before requesting the account closure. Moreover, if you start the process without settling the negative balance, DP can reject the request of closing the account.
2. If your account contains any shares they should be transferred in other demat accounts
3. Submit the unused delivery instruction booklet slip back to the DP