Sharekhan Demat and Trading Account closure
I had both the eTrading and demat account with Sharekhan and had closed both of them recently, so sharing the process here.
Make sure that you have paid the annual maintenance charges / Demat account charges for the current year. Whether you have done any transactions or not, you have to pay the demat account charges.
After ensuring the above, make your Sharekhan account balance zero.
Go to a nearby Sharekhan branch and ask for the account closure form. Fill up the form and submit it there. See below for what fields need to be filled in the form. You need to have your Sharekhan DP Client ID handy for this.
Get an acknowledgment. They gave me a stamped photocopy of the filled form. The acknowledgment serves as a proof of your application submission.
You will receive a call from Sharekhan central office within 3 working days asking for a reason of account closure. In my case the reason was "No longer using it."
Closure Confirmation - You will receive a sms and email confirming the closure of your account.
Time taken to get the account closed
Typically, it takes around a week to get the account closed. I received the closure confirmation within 5 days.
Fields that need to be filled in Form
You have to fill up the following fields in the form -
- Tick the boxes before following statements:
- I/We hereby request you to close my/our eTrading account with you.
- I/We hereby request you to close my/our DP account with you.
- Sharekhan DP Client ID
- Name of account holder/s.
- Signature of account holder/s.
- Reason for closing account - (Eg. No longer using the account)