How to close HDFC Securities Demat Account?
Short Answer
You can either send an email to dematclosures@hdfcbank.com from your registered email ID or download the application form and post the filled in HDFC Account Closure Form.
Detailed Answer
HDFC Securities Demat Account
HDFC is one of the leading banks in India and HDFC securities Demat account is well know for its free account opening, nil paperwork, competitive brokerage and free account maintenance for the first year.
How to close HDFC Securities Demat Account?
You can close your demat account both online and offline.
Online HDFC SecuritiesAccount Closure
You are required to send an e-mail from your registered email address to HDFC mail ID dematclosures@hdfcbank.com. It is important that you disclose your name, client ID, Demat account number, reason for closing your account, how to treat the funds held in your account and where to transfer your funds.
You are expected to receive an acknowledgment email, once they receive your email and a confirmation of closure email, once they have processed your application.
In case of issues, you may visit the nearest bank branch to resolve your issues.
HDFC Securities Offline Account Closure
You can download the HDFC Securities Account Closure Form .
You are expected to download this form and fill in the relevant details such as your account number, depository participant’s ID, client ID, name of all the account holders, registered address, registered phone number, reason for closing your account, how to treat the funds held in your account and where to transfer your funds.
You are required to send this filled up application form to the address mentioned in the form via post. It may take upto 10 business days for HDFC to process your closure request.
HDFC Demat account closure
Important things to bear in mind before submitting your HDFC Demat account closure form:
- To de-link trading account
- Surrender any unused Delivery Instruction slips
- Submit Delivery Instruction slips, in case assets are to be transferred to another account
- If the account is owned by a company, it is vital for you to submit the board of resolution that is signed along with the company’s stamp
Closing your HDFC Securities Demat Account
You will not be charged any account closing fee for closing your HDFC Demat account, unless you have any pending dues or negative balances.
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Discussion (3)
HDFC Demat account is easily closed via online and offline means. There are no charges for such account closure but if you have some dues pending or negative balance, then they will levy charges.
Yes
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HDFC is the leading financial institution in the country. Better options than HDFC Securities demat account are available in the Indian markets. Mke sure to check them out too!