Thinking why and how to close demat account in ICICI?
Demat account holds your securities, in another word, your investment that you had made with your hard-earned money. Right? So, it is your duty to safeguard it from any kind of fraudulent activity.
So, if you are among those investors who are no more investing in the share market or are currently using a demat account with another stockbroker, then it becomes important for you to close a demat account in ICICI.
How to Close Demat Account in ICICI Bank Online?
ICICI Direct, although offers a simple online way to open a demat account, when it comes to closing an account, you have to follow the procedure offline.
Before you apply for account closure, make sure that there are no pending dues (AMC, margin, brokerage) and holdings in your demat account.
If there is any share or holdings, then you can either transfer it to another demat account registered with the same name or can sell them off.
Now to close the account you can either visit the nearby branch or can download the account closure form from the website or by clicking here.
Once you get the form, fill in all the essential details and submit it to the branch or send it via speed-post. On receiving the form, the broker generally takes 7-10 days to process the application and to close the account.
Now let’s find a way how to fill out the form correctly.
How to Fill ICICI Demat Closure Form?
Here is what ICICI Demat Account Closure form looks like:
- Enter your details; Name, Mobile Number, DP ID, BO ID, etc. (Your name and other details should be the same as registered with CDSL and NSDL).
- Now sign the form at appropriate places.
- In the case of Joint Holders, make sure that both the applicants sign the form.
- Submit the form along with the required documents.
Once done send it to the nearest branch and your account gets closed within 7-10 days.
Hope it helps you with your account closure process. For more details like this or any other share, market queries fill in your details in the form below.
