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How to close SBI Capital Demat Account?

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Demat accounts involve annual fees and maintenance charges. If you are not using a demat account for a while, It is a good idea to close all your inactive or zero balance demat accounts. If there are active balances, they can be consolidated into one account and the remaining redundant demat accounts can be closed.

Following pre-check has to be done before sending the requests for Closure of demat account.

  1. Ledger Balance in your account (should have Nil/ Credit balance), It should not have Debit Balance.
  2. Signatures of all the holders should match with SSL records.
  3. Existing details i.e. Name and Address should be matched with SSL records.
  4. No stock is held in SBI Capital Pool account.
  5. You are requested to unmark the lien on funds and securities created in favor of SBICAP Securities ltd before applying for the closure of the Account.
  6. In case the request is received for closure cum transfer request, DP client master of target DP CML copy required along with seal and stamp of DP.
  7. All holders are required to sign the closure request form.

There are 2 easy ways to close the demat account

  1. Visit SBI Capital website and download the 'Account Closure Request- DP and Trading' form. Take a print out and fill the form properly and submit to your Demat Service Provider(SBI) .Or
  2. Visit any of the SBI branches near you and ask for a Demat account closure form. Fill, sign it and submit it back to the branch along with requested documents.
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