How to Close Axis Demat Account Online? | Closure form | Charges

Axis Demat-Account Online

Hello friends!! In this series, I will try to bring the information for Demat account closure for our Top Brokerage firm so that as a customer you don’t end up paying a huge maintenance fee otherwise it will dig a big hole in your pocket. So let’s cover “How to Close Axis Demat-Account Online?“

How to Close Axis Demat-Account Online?

Well, so far there is no option to close the Axis Demat Account digitally. It’s still the old way of submitting an account closure form at the branch and then getting it closed. You can close this account by dropping a mail or calling the helpdesk number. Think twice before you open an account with Axis direct Firm. Gone are the days when you have to visit the branch in person and submit the hardcopies.

But still, if you hold an account with Axis direct and are not satisfied with their services please follow the below Offline process to avoid losing your money:

• Fill out the enclosed account closure form and get it duly signed by all the account holders in the presence of the depository participant official.
• Provide the reason for account closure in the application request.
• Provide a copy of KYC documents for Identity & Address Proof.
• Fill out the delivery instruction slip in case of transfer to securities to another account of yours.
• If DIS is submitted then fill client master report from the central depository to transfer the proposed holding along with the relevant stamp, signature, and logo.
• Now submit all the documents stated above to your Relationship Manager or Equity Advisor or to a branch of Axis Direct to get your account closed.

Guidelines

Following pre-check to be done before sending the requests for Closure of [Trading and DP accounts (CDSL/NSDL)] to enable us to process the requests expeditiously and to avoid possible rejections.

• Signatures of all the holders should match with records.
• Ledger Balance in your account (should have Nil/ Credit balance), It should not have Debit Balance.
• Existing details i.e. Name and Address should be matched with SSL records.
• No stock of yours is held in our Pool account.
• You are requested to unmark the lien on funds and securities created in favor
  of Axis Securities ltd before applying for closure of the Account.
• In case the request is received for closure cum transfer request, DP client master
  of target DP CML copy required along with seal and stamp of DP.
• All holders are required to sign the closure request form.

It takes 7-10 working days for us to process the closure from receipt of the account closure form at our Head Office, you can get the status of the account closure from your Relationship Manager/ Equity Advisor or your nearest branch. You can also acquire the status by calling on no 022-40508080 [from 8 am to 6 pm] or by writing to helpdesk@axisdirect.in

How to Fill the Axis Demat-Account Closure Form?