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How to close SAMCO Demat / Trading account?

SAMCO Account Opening

Get Free Trading and Demat Account Opening + 100% Brokerage Cash Back for 1st Month for trades using Mobile App. Get the offer

SAMCO offers 2-in-1 account (Trading and Demat) to their customers. If you no more needed to keep demat account, it's recommended to close the account to avoid AMC, unwanted penalties or misuse of your account. It's just a few steps process to close the account.

Steps to close SAMCO Account:

  1. Clear all pending balance with SAMCO
  2. Transfer your holdings from your existing demat account to new demat account or sell them.
  3. Call them and get the account closure form. Once you receive it print it, fill it, sign it and send it to the Mumbai office.

Please Note:

  1. Account closure process with SAMCO is completely offline. The account cannot be closed online, via email or over the phone.
  2. All the account holders have to sign the form if there are multiple account holders on the account.

After submitting the form, it takes 7-10 days to close the account with SAMCO. Don't forget to follow up in case you do not get a confirmation in 15 days. You can contact the customer support to check the status.



1 Comments

1. Shubham Satish Dhaware  Sep 4, 2021 13:26 I Like It. | Report Abuse Reply
Dear Team Sir &Madam
My Iifl account closed
I am not use this account