A Demat account is a dematerialized account where all the shares and securities of the country are holding electronically. This account is made in such a way so that any investor is not capable of withdrawing the physical possession of the certificates.
For opening the Demat account you will need a principal investor while it will be registered with the investment broker. The shares in the Demat account are actually kept at two depositories namely, the National Securities Depository Limited and the Central Depository Services Limited.
Now the point is that all the depositors can get their shares from the depository’s participants and not from the investors directly. These participants are also known as DP. They are like agents to the depositors and they are registered to the Securities Exchange Board of India or SEBI. Here HDFC bank is one such DP that holds the shares of your Demat account.
Steps to Close HDFC Demat Account Online/offline
There are two steps primarily through which you can close your Demat account. These steps are discussed accordingly.
Submitting an Application to branch
- You can easily find an application form on the website of the HDFC bank pertaining to the closing of the Demat account https://v1.hdfcbank.com/assets/pdf/Demat-Account-Closure-Form-(NSDL-CDSL).pdf.
- Next, you have to fill up details like the client ID, DP ID, name and address and the reason for closing the Demat account. Remember that this closure form has to be signed by all the holders.
- Any POA holder cannot sign this form.
- If there is any fund remaining in the account then it can be easily transferred to another account. You just have to provide the HDFC bank with the account details and all the money will be transferred.
- Also, you can get the remaining money by filling up the delivery instruction slip.
- After the submission of the application form, another 7 to 10 days will be required for the account to be closed.
- You will not be charged a single penny for the closing of the Demat account in HDFC bank.
- You must keep in mind that before closing the account, you must not have any negative balance in the account. If you have any, then you must pay the negative balance before closing the account.
Close HDFC Demat Account online by sending Email
- You can easily close your Demat account in HDFC bank by sending an email to their Demat closure mail id dematclosures@hdfcbank.com. This mail must be sent from the registered email id.
- In the mail, you have to mention all the details related to the Demat account and you must also provide a valid reason as to why you want to close the account.
- You can get all the details mentioned above from the Demat page through net banking or in the nearest HDFC bank.
- Once the email is sent, they will close the account and confirmation regarding the same will be sent to you via email as well.
Conclusion!
So, these are the two easy steps through which you can easily close your Demat account in the HDFC bank. You can choose whichever method you feel comfortable with. We hope that this article will help you with all the queries and the overall procedure of closing the Demat account.
View Comments (30)
muje bhi account band krwana hai please guide me
mera bi abi tak close nahi hua demat acount dp 36096
मैने डीमैट एकाउंट क्लोज करने के लिए 2 बार फॉर्म जमा करा देता लेकिन अभी तक अकाउंट क्लोज नहीं हुवा
HDFC people made me a fool before opening the account they said there is a lifetime account with no deductions nothing itseems now it's deducting money from my savings account what is this bullshit n I went to close this they said I need to another branch to cancel.
That's the dirty game played with customers bro.
i am not aware about that i ever had a HDFC Demat account active on my Name and now they have deducted charges from my saving account. i have never did a single transaction from that demat account. Moreover the Demat Executive show a very bad attitude, when i asked for the help
Branch Name:-HDFC Bank, Kalyan West Branch (Thane, Pin:- 421301).
सबसे खराब वेस्ट बैंक का मैंने मैंने एचडीएफसी बैंक के डिमैट अकाउंट क्लोज करने के लिए 10 मेल किए हैं मुझे अभी तक कोई भी प्रतिक्रिया नहीं मिली कि मेरा अकाउंट बंद हुआ नहीं हुआ बस चार्ज लगे लगते हैं हर साल सबसे खराब भ्रष्ट बैंक एचडीएफसी बैंक
When I applied for a credit card the executive officer said it was a to upgrade a credit limit..I dint even approach for any limits..when I got a message from the back of demate account I got to know this ..n they said no charges but it's annual is 750 n the executive said no charges will be applied .. without using it why I must pay such an amount..they also did it without asking me.
Urjent need close demate account ???????????? I have no idea for demate acc so kindly closed my acc ????????????????
I want to close the Demat account because I am not interested
when I opened the HDFC account. The HDFC representative has forced(it is mandatory)me open the DEMAT account.
Dear
Hdfc Bank if you have my deemed Account please close my Demat Account I don't need you sales Executives are continuing calling me for service charge regarding so my humble request please close the Demat Account.