How to close Axis Direct account? Demat Account Closure form
- Asked By
- Updated On:18-May-2022
- Replies:1
Short Answer
To close an Axis Direct Account one has to download and Print the Axis Direct Account Closure Form, Fill it with the correct details and go to their nearest Axis Bank branch with the necessary documents such as An Identity Proof & Address Proof and an Axis Bank official will verify all the mentioned details and start the process on completion of successful verification.
Detailed Answer
Axis Direct Account-
Axis Direct is a Bank based Full-Service Stockbroker which provides 3 in 1 account that combines a Demat Account, Trading Account & Bank account under one name. Axis Direct is a brand registered under Axis Securities which is a subsidiary of Axis bank in India. Axis Direct was found in 2011 and currently is in the top 10 Stockbrokers in India with an active client base of 4.2 Lacks in 2021.
Account Closing Process-
To close an Account in Axis Direct, the following steps must be made sure-
- There should not be a Positive or Negative balance in the Account. If there are any dues then clear them and if there are any surplus funds in the Trading account then that should be withdrawn so that the balance should be “0”.
- There should not be any Shares or any other securities In the account. If one has some shares then one can either sell them and withdraw the money or get those shares transferred to any other Demat account through CSDL or NSDL.
Now that one has taken care of the 2 things, the next step is to Download the Account Closure form of Axis Direct.
One can do so from the link below-
https://www.axisbank.com/docs/default-source/default-document-library/application-for-closing-demat-account.pdf?sfvrsn=b46cf055_0
By the above link, one can get the Closure form, which should be printed and filled.
Axis Direct Account Closure Form - Points to Note
Some things to ensure while filling the account closure form-
- Enter the Right Client ID as well as the DP ID.
- Tick the reason for closing the account
- Tick the confirmation of the delivery slip.
- Mention the Correct Bank Details if the account has some balance that has to be transferred.
After Duly filling the form one has to visit their nearest Axis Bank branch with the necessary documents such as the Identity Proof & Address proof, (Aadhar / PAN card), where an Axis Bank official will verify all the mentioned details as well as verify the Identity proof before signing the form and initiating the Account Closure process.
After the process has been initiated, one might have to wait for 7-10 working days before the process gets completed.
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Discussion (0)
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