How to Close Your Demat Account Online: A Step-by-Step Guide

If you no longer use your Demat account, it's essential to close it to avoid unnecessary maintenance charges. Here's how you can do it online, along with key considerations.

Can You Close a Demat Account Online?

Yes, many Depository Participants (DPs) including HDFC Mutual Fund offer the option to close your Demat account online. Some may require a physical request, however.

Steps to Close a Demat Account Online

  1. Check for Pending Transactions:
    Ensure no pending trades or unsettled transactions. Transfer remaining securities to another Demat account or sell them.

  2. Download the Demat Account Closure Form:
    Visit your broker’s website or portals like NSDL/CDSL. Fill in the required details, including DP ID and Client ID.

  3. Submit the Closure Request:
    Upload the signed closure form on the broker's portal with self-attested PAN, Aadhaar, and latest account statement. Some brokers may require e-signatures via Aadhaar-based OTP verification.

  4. Verification & Account Closure:
    The DP will verify the request within 7-10 business days. A confirmation email or SMS will be sent upon successful closure.

Offline Method (if required)

Visit your DP’s branch, submit the physical closure form, and provide the necessary documents.

Key Considerations

  • Clear all dues and AMC charges before submitting the request.

  • Download transaction and holding statements.

  • Make sure all nominee details or corporate actions are updated.

  • For joint accounts, all holders must sign for closure.

Conclusion

Closing a Demat account with HDFC Mutual Fund online is simple if no pending holdings or dues exist. Follow the steps carefully to avoid unnecessary delays or charges.