Are you stuck with how to close SBI Demat account? Can’t find a straightforward answer. Well, we will provide you with just that.
Following are the simple steps to close SBI Demat account:
- Basically, you have two options. One is to visit the nearest SBI branch and get a Demat account closure form and just fill it up. But there’s another, and slight more convenient method too. For this, you just have to visit the SBI website and search for the Demat account closure form and then download and print the same.
- Next, fill up the form by jotting down BOID, name, joint holder names, and some other details as well. In addition to that, you also need to specify the balance in your account(if any).
- Once you have filled in all the necessary details, don’t forget to sign the form as well. If you have downloaded the form and then filled it, in such a case, you will have to post the application to the address mentioned in the form itself.
Usually, it takes about 7-10 working days for the processing of the SBI Demat account closure application. But before you actually send the application request to close SBI Demat account, you should keep the following points in mind:
- All your open positions are closed.
- No pending dues in the account.
- Remember to attach unused DIS.
As long as you take due note of the above points, the process of how to close SBI Demat account will go pretty smooth.
If you have any further related queries or any questions that are bugging you in your stock market journey, feel free to send us the same below.
