Updated on – 13 Jan 2021
Zerodha offers both online and offline ways to close your Zerodha account.
In this article, I am going to guide you on how to close the Zerodha account online & offline.
How to Close Zerodha Account Online
To close the Zerodha account online, you can digitally sign (e-sign) the downloaded account closure form and submit it by raising a ticket here.
You can digitally e-sign the form as below:
- Fill up the downloaded application form using MS Word or any other text editor
- Log in to Digio – Sign up for a new account, if you don’t have)
- Click on Add document and upload the closure form
- Click on the sign icon
- Get your Aadhar Virtual ID if you don’t have. You will see an option like this
Enter your Aadhar Virtual ID (VID) and you will receive an OTP on your registered email id and mobile number.
Enter the OTP and your account closure form will be digitally signed.
Download the account closure form and submit it by raising a ticket here.
How to Close Zerodha Account Offline
You have to submit an Account Closure Request Form to close your Demat account. Follow the steps below to close your Zerodha Account Offline.
Step1: Download the Account closure request form from here.
Account closure form will look like this
Step2: Click on ‘Close Account’
Step3: Fill all the details on the application form
Step 4: Attach self-attested copies of PAN Card and Aadhar Card of all account holders
Step5: Send the documents to the head office of Zerodha
You can also drop off your forms to your nearest branch offices.
Zerodha will take almost 7-10 days to close your account after receiving the application form.
Also read – 5paisa Demat Account Genuine Review 2021
How to Fill Zerodha Account Closure Form
First of all tick on the ‘Close Account’ option in the form.
After that, you have to fill the details of the account holder and correspondence address. You have to mention the reason for the account closure.
Then, you will see four options regarding what have you done with the balance remaining in the account. There are four options available, you can select the appropriate option as per your choice.
- Partly rematerialized and partly transferred
- Transferred to another account
- Not applicable
All the account holders have to write their names followed by their signatures in appropriate columns in the end.
Acknowledgment receipt section is for office work that you don’t have to fill up.
How to Deactivate Zerodha Account Offline
To de-activate your Zerodha account
- Download & print the ‘account closure form’
- Tick on ‘deactivate account’ (You will get two options ‘Deactivate Account’ and ‘Close Account’)
- Fill up the rest of the form & send it to the head office.
The head office address of Zerodha is:
153/154 4th Cross Dollars Colony
Opp. Clarence Public School
J.P Nagar 4th Phase, Bangalore – 560078
Things to keep in mind before submitting a Demat closure application
- Clear all your dues – Make sure that there’s no negative balance (debt) showing in your Demat account. Otherwise, you won’t be able to close your Zerodha account.
- Transfer the balance – You should transfer the funds available in your Zerodha account to your bank account before submitting the account closure application.
- Holding your shares – If you have shares in your Zerodha account, you have to either sell or transfer your shares to another Demat account. Make sure there are no holding shares in the account while submitting the closure application.
If you want to switch from Zerodha, then you can open an account with Upstox. For better understanding check comparison between Zerodha vs Upstox
Let me know your experience in the comments section.