If you are not using your Demat account or if you want to shift to another Demat account from Zerodha then it is better to close your Zerodha account to avoid annual maintenance charges.
Closing the Zerodha account is an easy process, but most of us will think that it is too difficult, so we keep our Zerodha accounts keep on running even without using and it leads to AMC charges. ( AMC charges for Zerodha equity account is 200 Rs, and for equity + commodity account it is 300 Rs per year)
You can close your Zerodha account both in the offline process and online process. But before closing the Zerodha account you have to do the following things.
Things to Do before closing Zerodha Account
No negative balance in zerodha account
Make sure that your Zerodha account doesn’t have any negative balance if it has then make the payment and make it zero.
No shares in Demat account:
- Make sure that you don’t have any shares in your Zerodha Demat account, if you have then you need to sell them or you need to transfer them to a new Demat account which you own.
- To transfer your shares from Zerodha to another Demat account you need to fill a form called DIS ( Delivery Instruction Slip). You will get this form by sending a DIS request form to the Zerodha head office.( After sending the request form they will courier the DIS slip to your registered address in Zerodha.
- Now you need to fill that form and again send it to Zerodha corporate office address.
- Once you don’t have any negative balance and shares in your Zerodha Demat account, then you will be eligible to close your Zerodha account.
How to Close Zerodha Account Offline
To close your Zerodha accout offline follow the below steps
Step 1: Download Zerodha account closure form and select the close account option.
Step 2: Now write your zerodha client id, name, address, and reason of closing account and finally sign the form.
Step 3: Now send this form to Zerodha head office. Once your application receives to Zerodha then they will close your account after 1 month from the date of application.
How to Close Zerodha Account Online
To close your Zerodha account online follow the below steps.
Step 1: Download the Zerodha account closure form and fill it with by using MS Word or any text editing software.
Step 2: Now login to Digio.in website and upload the account closure form.
Step 3: In Digio you can find option to digitally sign forms using your Aadhar number. ( You will get 2 signatures with 2 months validity for 50 Rs in Digio)
Step 4: After digitally signing the form download the account closure form and sbumit it to Zerodha by raising a ticket at Zerodha support portal.
Sample Filled Zerodha Account Closure Form
Trading ID, Client ID and DP ID in Zerodha
Trading ID means user ID in Zerodha which you use it for login in Zerodha Kite, the same you will get in Zerodha welcoming email.
Client ID and DP ID in Zerodha
You can find your Zerodha client id and DP in Console dashboard and My account section.