How to close Kotak Securities Demat Account?

At a time an investor can hold up to 5 demat accounts and many investors open more than 1 demat account with different depository participants to avail this offer. But over the time they realize they need to close these demat accounts to avoid annual maintenance changes. In that case either they hold all securities in one account or rematerialize the shares and close all the demat account.

Types of demat account closure with Kotak Securities:

1. If the Kotak Securities demat account has no holdings and all payments have been settled, the investor can easily raise the closure request with the depository participant. To close the account investors need to:
   
   1. Download the closure form. Submit duly filled and signed the form to the nearest branch
   2. Alternatively, visit the branch and fill the account closure form and submit back to them.
2. If all the payments have been settled but the demat account hold securities, it has to be transferred to another demat account. To transfer in another demat account, the investor needs to:
   
   1. Download the Account closure form
   2. Duly-fill Delivery Instruction Slip (DIS) to transfer the securities to another Account
   3. Submit the document to the nearest branch. Once all the required documents are submitted, the account will be closed within 5 working days.

Before submitting the documents please make sure:

1. All the dues are cleared
2. All forms are duly filled and signed
3. All holders have signed, in case of joint accounts