How to Close Your Demat Account Online

To Close Your Demat Account Online

We are sorry to hear that you wish to close your account with us. Before proceeding with the closure, we kindly request you to contact our customer care team so that we can address any concerns you may have and assist you in the best possible way but if you still wish to proceed, please follow the steps mentioned below to initiate an account closure request.
 

Through App

●  Login to 5paisa.com

●  User Menu

●  On top Left click on “Your Name”

●  On top right Click on “Manage”

●  Demat Account Details

●  Close my trading account & Demat account 

Through Web

● Login to 5paisa.com

●  On top right Click on Profile Icon

● Profile

● My Profile

●  Demat Account Details

●  Close my trading account & Demat account 

Online Steps

1.    After clicking on the 'Close my trading account & demat account' option, click on the 'proceed' button.

2.    The system will ask for confirmation, so please click on the 'Yes, I am sure' option to proceed.

3.    Kindly mention the reason for wanting to close your 5 Paisa trading and demat account? 

4.    Please click on the 'continue' button to proceed.

5.    Before submitting the closure request, please ensure that you have completed all four stages, which include      ledger, stocks, mutual fund, and open positions, if any.

6.    After completing all four stages, click on the 'continue' button to E-sign the duly filled closure request form.
 

Important steps/things to ensure before submitting an account closure request.

1.    If there is any debit or credit balance in your ledger, please ensure that you bring it down to 0.0 INR. 

2.    If you currently have holdings or stocks in your demat account linked to the 5 Paisa trading account, you must either sell them or transfer them to another demat account. 

3.    If you currently have mutual fund holdings in your account, you must redeem them. 

4.    You must also close or square off any open trade positions before proceeding with the closure request.
 

Note

1.    Please ensure that you have fulfilled the above-mentioned conditions before submitting your account closure request. 
2.    Please note that it may take up to 7 working days to process your request."