You can download the account closure form the given link - Demat Account Closure Form and post it to the address mentioned in the form.
Paytm money is an online brokerage platform that offers Demat account and trading account. Trading account is where you buy and sell your assets, whereas a Demat account is where you hold the bought assets in a dematerialised form.
Within Paytm Money you can trade in shares, ETFs and mutual funds. The Demat account opening and maintenance fee is free of cost with Demat Account.
You are not required to pay any account closure fee to cease using your Paytm Money Demat Account. Although Paytm is completely online, you cannot close its account in just a click.
You will be able to find the account closure request form in the Download Center of Paytm Money website. The link to the download Center is - Demat Account Closure Form
You are required to fill up the following important details:
You are required to fill up the relevant details and send the form to the Sarjapur, Bengaluru address mentioned in the form. If you have any queries, you can raise a complaint in the Customer support section of the Paytm app. Alternatively you can email them at: email@example.com
Most people close their Demat account due to inactivity and to avoid paying maintenance fees.
However, it is noteworthy that Paytm Money Demat Account does not charge any inactivity fees or annual account keeping fees. One may close the account for need of funds or for better features, educational tools, research tools or wider range of investment options.
Now, that you have decided to close your Paytm Demat Account, you might be thinking to open a new account with another stock broker.
You can Open an Instant account with Zerodha, the No.1 discount broker in India. Get Started and Enjoy FREE Equity delivery and FREE Mutual Fund Investment.
Closing a particular demat account is a hectic process. The documents required are complicated for a beginner and can easily confuse one! The document required list is extremely helpful and simplifies the online process to a great extent!
To prevent any inactivity fee or maintenance fee, closing your Demat account is not the only option. The Paytm Money Demat Account does not levy any such fee for its users. If you feel that there are not great features or you want something more, then you can go ahead with closing the account on Paytm.