How to Close Sharekhan Account?

Last Updated: Mar 19, 2024 Value Broking 2 Mins 2.2K

It is better to close your Sharekhan trading and demat account if you are not using it for some reason. There are Annual Maintenance Charges (AMC) and other charges associated with demat accounts, and these charges continue to accrue interest until they are settled. In order to close your account, you will be required to pay all the unsettled dues before the application is processed. So, if you don’t plan to use your demat account in the future, it is better to close it. This article explains how to close the Sharekhan Account.

A Step-by-Step Guide to Closing an Account

You cannot close a Sharekhan account online by email/chat or by contacting customer support. The account can only be closed by filling out a physical form. However, please note that before you close the Sharekhan trading & Demat account, you must:

Close all open positions in your trading account.
Transfer or sell all the securities held in Sharekhan’s demat account.
Make sure all your dues are paid.

In India, Sharekhan has branches and franchise offices in many cities. Visit the ‘Contact us’ section of the Sharekhan website to find a Sharekhan branch office near you. Following that, follow these steps:

Step 1: Ask for an account closure form at the branch.

Step 2: Fill out the form and sign it. In the case of joint accounts, all account holders need to sign.

Step 3: Please attach all your unused DIS slips

Step 4: Submit the form at the branch. You can also courier the documents to the address on the form.

Conclusions

The account closure application takes 7 working days to process. Within 15 days, you will receive a confirmation letter. If you don’t receive the confirmation letter within 15 days, contact customer support.