Looking for how to close demat account in Kotak Securities? Then you have reached the right place.
There can be various reasons for an individual to close their demat account that can range from personal reasons to incompatibility with the stockbroker.
So, if you are looking to close your demat account in Kotak Securities, you can follow the given steps.
How to Delete Demat Account in Kotak Securities
A lot of people often wonder how to close their demat account in Kotak Securities online. But the fact is that you can only close your demat account in Kotak Securities through an offline process.
Let us have a look at how you can do that.
- Open the website and download the account closure form.
- Once you have the form, fill in th necessary details like DP ID, client ID, reasons to close your demat account, etc.
- Sign at all the required places.
- After this, you have to submit this duly-filled form to the nearest Kotak Securities branch or you can also send it to the head office.
Once you have successfully submitted the form, it will be verified. Make sure that all the information mentioned in the form is correct to ensure a smooth process.
After the successful verification, it usually takes 7-10 business days for a broker to close your demat account.
Apart from this, there are certain other things that one should keep in mind before closing a demat account.
- You should either transfer all your securities to your other demat account or sell them off.
- Close all your open f&o positions.
- In case of a joint demat account, all the individuals have to make sure to sign it.
- You also have to submit your unused DIS to the stockbroker.
So, you can easily close your Kotak Securities demat account in some simple steps only by keeping a few things in mind. We hope that you got all your answers related to Kotak Securities account closure in this article.
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