How to close SAS Online Demat account?

One person can have multiple trading and demat account. If you want to move from SAS Online and planning to open another demat account with some other broker, you can do it anytime. But It's wise to close the existing account because though you are not using it, still you have to pay a maintenance fee on that. Also, there is a risk of misuse of your account. SAS Online doesn't charge anything for account closing.

Before closing the account an account holder should complete the below formalities:

1. Transfer all your stocks or holdings from your existing demat to a new demat account
2. Clear all the debit balance from your account. In case of any credit balance, the money will be transferred in your given account.
3. Clear all the positions in your trading account

Steps to follow to close an account with SAS Online:

1. Get the form from their website
2. Print it, fill all the required detail and duly sign it
3. Attach copies of required documents
4. Courier it to the SAS Online office

If everything goes well it takes 7-10 days to close the account. But in case you won't hear from them in 15 days, make sure to follow up with the company.