How to Close Motilal Oswal Account?
To close your Motilal Oswal trading and demat account, you’ll need to follow a specific procedure outlined by the brokerage firm.
Step 1: Clear Any Outstanding Dues
Ensure that you have no outstanding dues, pending transactions, or negative balances in your trading and demat account. Clear any dues related to fees, charges, or any other financial obligations.
Step 2: Sell or Transfer Holdings
If you have securities (stocks, mutual funds, etc.) in your demat account, you must either sell them or transfer them to another demat account. Your Demat account should have a zero balance of securities before you proceed with the closure.
Step 3: Contact Customer Support
Reach out to Motilal Oswal’s customer support to initiate the account closure process. You can contact them through one of the following methods:
- Call their customer care helpline at 082912 02544
- Send an email to customercare@motilaloswal.com.
- Visit the nearest Motilal Oswal branch office in person.
Step 4: Request an Account Closure Form
Request an account closure form from the customer support representative. You may need to fill out this form as part of the account closure process.
Step 5: Complete and Submit the Account Closure Form
Fill out the account closure form as per Motilal Oswal’s instructions. Ensure all required fields are accurately filled, including your client ID, account details, and contact information.
Sign the form and submit it along with any supporting documents if requested.
Step 6: Settlement of Funds
Motilal Oswal will process your account closure request, including settling any remaining funds in your trading account.
Step 7: Confirmation of Account Closure
After your account closure request is processed, you should receive confirmation from Motilal Oswal acknowledging the closure.
Step 8: Verify Closure
After receiving confirmation, verify that your account has been successfully closed, and you no longer have access to your Motilal Oswal account.