Is it possible to close a demat account with holdings?
No, a demat account with any balances (holdings) cannot be closed. You will be required to transfer the securities to another demat account before initiating the closure request.
Transfer to | Requirements |
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Own Account | * A Closure cum Transfer request can be placed. * This mode of transfer requires that the name pattern of both accounts are the same. * You can either: a. Submit a Closure cum Transfer Form at your Geojit branch. b. Place the closure cum transfer request through MyGeojit if your demat account is a single holder account. Please Note : If the client has holdings in their demat account then they have to upload the digitally signed CML or (Client Master List). * Refer to our article on how to close your account. |
Someone else's Account/ Account with different name pattern | * Use a DIS (Delivery Instruction Slip) to make an off-market transfer of the securities. * Refer to our article on how to transfer securities using a DIS. * Then, submit a Closure Form at your Geojit branch. |
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