How to Close a Demat account?
A dematerialized account is a necessity to trade in Indian stock markets. When an investor chooses to start trading on the stock market, they begin by opening their Demat account which will hold electronic copies of all their securities. As time passes, if one does not continue using their account as often and no longer sees the need for it, it might be smart to close the account completely. Unfortunately, most people let their Demat account lie dormant, and the account incurs its annual maintenance fee which becomes an unnecessary expense.
Prevent making this costly error by closing your account if you are not using it. This way you will not end up losing money towards your account’s maintenance charge. It is vital to learn the ins and outs of how to close a Demat account. This helps in doing the needful as soon as you realize there is no need for you to have an active Demat account.