How to close Sharekhan Demat Account Online 2023
In this blog, you will be able to quickly understand the process and steps with the help of which you will be able to know if you can close your share khan demat account online.
For a seamless and interesting way to invest in the stock market, you can definitely rely on opening a demat account. However, it's possible that there may come a time when you decide to close your Sharekhan account for various reasons, for example changing your investment strategy or consolidating your financial accounts. Fortunately, almost every brokerage app provides you with the option of the online process for closing your Demat account and Sharekhan provides you with that type of option too which makes it relatively straightforward. In this guide, we will be able to walk you through the simple steps on how to close your Sharekhan Demat account online.
Before You Begin
There are a few things that you are supposed to keep in mind before you proceed with the account closure process, well there are a few important things which you are supposed to consider:
- Clear All Outstanding Dues: Make sure that your demat account has a zero balance and there are no pending dues, for example, shares or securities, or any outstanding against your account.
- Cancel All Open Positions: By any chance, if you have any open positions in stocks or securities, you should make sure to sell or transfer them directly to another Demat account, as Sharekhan will not close your account with the open positions.
- Review Terms and Charges: First of all, look at Sharekhan's terms and conditions regarding closure and any associated charges. It's very important to keep it in your mind and understand the financial implications of closing your Demat account.
Step-by-Step Guide to Close Your Sharekhan Demat Account Online
Follow these simple steps to initiate the closure of your Sharekhan Demat account online:
- Log in to your Sharekhan Account:
In the starting phase you should start by visiting the Sharekhan website and then simply start logging in to your demat account while using your username and password.
- Visit the 'Account Closure' Page:
Once you are able to log in, simply navigate to the 'Account Closure' section. You may be able to find it in the 'My Account' or 'Profile' section of your Sharekhan dashboard.
Fill Out the Account Closure Form:
After the Account Closure, you should keep in mind that you will be required to fill out an online account closure form. This form will typically ask for information for example your account number, registered account details, and the reason for account closure. You should make sure that you are supposed to provide accurate information to avoid any type of delay in processing.\
- Verify Your Details:
After successfully filling out the form, cross-check all the required details that you have entered to ensure that they are correct. Any type of discrepancies or errors may prolong the account process.
- Submit the Form:
Once you are able to successfully verify all kinds of information, you should submit the account closure form. This will initiate the account closure process with Sharekhan.
- Wait for Confirmation:
Once after you have submitted the form, the Sharekhan team will have a complete review of your account to close your Sharekhan account. It is possible that they may contact you for some additional information or verification if needed. Be patient during this particular stage, as the processing time can vary.
- Clear Any Outstanding Dues:
By any chance, if Sharekhan lets you know or informs you that you have outstanding dues or open positions, then you are supposed to take the necessary steps to clear them all. This may involve settling any kind of pending charges or transferring your securities to another Demat account.
- Receive Closure Confirmation:
Once Sharekhan has verified and processed your request, you will receive a closure confirmation. This confirmation will signify the successful closure of your Demat account.
- Collect Any Physical Securities:
You should keep in mind that if you have physical secrets stored with Sharekhan, make all kinds of arrangements to collect them. And it's possible that Sharekhan may provide you with instructions on how to do this.
- Review Your Bank Account:
You should make sure that you ensure that Sharekhan has closed any linked bank accounts and terminated any kind of services associated with your Demat account.
Conclusion
So, Overall if you have taken care of all your outstanding dues and open positions then closing your Sharekhan demat account is very easy. It's essential that you should review the terms and conditions, including any type of associated charges, before initiating the closure process. But keep it in mind that you cannot close your account with the online process and that's why you will need to fill in your information in the form and then submit your request with all the valid information of your Sharekhan accounts physically.
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