How to Close a Demat Account Online? | Angel One (2024)

A Demat account is an essential tool for trading and investing in the capital markets. However, as our financial needs evolve, we may find ourselves with multiple Demat accounts, some of which might remain inactive. It is wise to consider closing an unused or zero-balance Demat account. In this article, learn how to close a Demat account, types of closures and points to check before closing one.

Types of Demat Account Closures

• Transfer and Account Closure: This is when you have pending securities on the account that need to be transferred to another account.

• Account Closure: This is a direct account closure procedure picked when the Demat account is inactive and has no pending holdings or transactions.

Points To Check Before Closing a Demat Account

• Please note the below before you proceed with closure.
  1. Account closure is permanent; you cannot reopen it with the same client ID. All the data associated with your account will not be available once the account is closed.
  2. You cannot open a new account with Angel One within 90 days of closure
  3. Ensure to clear any negative balance
  4. Download necessary reports like contract notes, ledgers, and P&L statements before closing the account as these will not be available once the account is closed
  5. Account closure can be done online for individual accounts only
  6. Account closure request for HUF, minor, joint accounts, needs to be submitted offline

  Before initiating the closure of your Angel One account, please ensure the following conditions are met:

  • Holdings: All equity holdings must be sold off or transferred to another DP/trading account
  • Funds: Ensure there are no funds in the account. All balances must be settled, and there should be no negative balance. Account closure will not be allowed in case of negative balance.
  • Open Positions: All trading positions must be squared off.
  • SIPs and Mutual Funds: There should be no active SIPs or Mutual Funds linked to the account.
  • IPOs: There should be no active IPO orders.
  • Pledged Holdings: Any pledged holdings must be released.
  • Frozen Accounts or Delisted Company Holdings: If holdings are in a frozen Angel pool account or of a delisted company, the account will close once the pool account is unfrozen or the ISIN becomes active again.

Also, mark a fund payout (if applicable) online after the trade settlement. Once you mark a payout, you will receive this in the opted Bank account.

Steps To Close the Demat Account

1. In the case of account closure:

1. Accessing the account closure option:
   • Use this link to access account closure
   • Alternatively, log in to the Angel One app, go to the Accounts page, and click on the Profile Widget
     • Use your mobile number/client ID and OTP to login

1. Initiate Closure: On the profile page, Scroll to the bottom of the Profile page and click on “Close Demat and Trading Account”

2. Select Reason: Choose the reason for closure and click on proceed.

3. Disclaimer: Read and click on “Continue with Closure”.

4. Proceed: Go through the checklist and click on “Proceed”.

5. OTP Verification: Enter the OTP sent to your registered mobile number.

6. E-sign: Use the Aadhar number linked with the respective Angel One account to e-sign the request

7. Your account will be closed in 5 working days and a confirmation will be sent on sms and email.

2. In the case of transfer and account closure:

If you have any holdings in your account, you can either sell your holdings or transfer them to another DP. You can close your account through an online process after selling your holdings. If you want to transfer the holdings along with account closure, please follow the below process:

• For closure cum transfer, you can create a ticket here or email us at [email protected]. from your registered email id
• The following documents are required for the closure cum transfer process:
  • Angel One account closure form duly signed by the account holder. Please click here to find the account closure form.
  • CML/CMR copy of the Target DP duly signed and stamped where holdings need to be transferred

Account Closure for Joint Holders, Minors, HUF Account Holders

For joint account holders, minors, and HUF, please note that the online closure process is not available. You will need to create a ticket here or email us at [email protected]. from your registered email id

Joint holders with no Holdings

• Documents Required
  • Account closure form duly signed by all the holders

Joint Holders with Holdings

• Documents Required
  • Account closure form with signatures of all holders
  • CML copy of the joint account of the DP where holdings needs to be transferred. CML copy must be signed and stamped by the target DP

HUF with no holdings

• Documents Required
  • Account closure form duly signed by the KARTA along with HUF stamp

HUF with holdings

• Documents Required

• Account closure form duly signed by the KARTA along with HUF stamp
• CML copy for the HUF account where holdings needs to be transferred. CML copy must be signed and stamped by the target DP

Minors with no holdings

• Documents Required

• Account closure form duly signed by the minor’s guardian

Minors with holdings

• Documents Required

• Account closure form duly signed by the minor’s guardian
• CML copy for the minor account where holdings need to be transferred. CML copy must be signed and stamped by the target DP

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