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How to Close HDFC Demat & Trading Account (HDFC Securities) Online in 2022?

How to Close HDFC Demat Account (HDFC Securities) Online?

We have seen when we have to open an account with any brokerage firm we get numerous avenues. But when we want to close the same due to any issue we don’t get concrete information on the closure. Instead of providing this information this firm discreetly does not share this piece of information on their website. As a result, we as a customer run pillar to post to get this closed. Thereby, 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 though you’re not using it or not required that account anymore. Therefore, in today’s article, we will cover ” How to close HDFC Demat Account Online?”

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How to Close HDFC Securities Demat Account Online?

To close the HDFC Securities Demat account digitally the process is quite simple but not published on their official website. During pandemic times, it’s not safe to visit the branch in person and do the formalities. Hence, I’m sharing the procedure for how you can close the account from the comfort of your home.

To get the Demat account closed online you need to fulfill a few conditions:

  1. Your email address should be registered with HDFC Securities so to accept your mail as your personal confirmation.
  2. You should be Sole Holder for your Demat Account.
  3. Your demat account should not have any holding nor any outstanding depository participant charges pending.

Provided you’re fulfilling the above conditions then you can drop a mail from your registered email address to Dematclosures@hdfcbank.com

Your mail should contain all this information so that the operation team can process the closure of the account in one go:

  • Demat Account Number ( i.e. Client ID ) & DP ID
  • Reason of Demat Account Closure
  • Pan Card Copy

In case you have provided all information as suggested then in the next 5 working days the account will be closed and the same will be intimated to you in writing.

Also, Read How to Deactivate ICICI Demat Account Online in 2022?

Offline Procedure

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There is an alternative way to close your account in case you do not fulfill the conditions laid out in the online procedure. Visit the nearest branch of HDFC Securities and submit the attached form with the required information so that team can process the closure of your account in their books.

Instructions for filling the closure form:

1. Closure request needs to be signed by ALL the account holders. POA holder (if any) cannot sign the closure request.

2. Corrections (if any) have to be authenticated by ALL the holders. Please strike off as “NA” for details
that are not applicable.

3. Closure request would be rejected in case of any outstanding charges.

4. In case of Trading a/c is linked to this Demat account, please submit delinking or trading account closure requests separately.

5. Certified True Copy of Board resolution required in case of ‘Corporate account’ closure.

6. Submit a duly-filled RRF if the balances are to be materialized.

7. Submit a duly-filled Delivery Instruction Slip [DIS] (off-market instruction slip) if the balances are to be transferred to another Account. This requirement is not applicable in the case of “SHIFTING OF ACCOUNT”.

8 . In case of transfer cum closure please ensure the following:
a. At least one of the account holders visits the branch.

b. He/she carries a valid original identity proof for verification.

c. Additionally, for obtaining a waiver of charges please note:
i. The target account should be in the same combination of names and of the same type/subtype as the source account ii. Submit Client Master List (in crystal format) duly stamped and signed by an official of target DP iii. For CDSL
closure, Self-attested Demat account holding statement is required

Trading Account Closure

Along with the Demat account, if you wish to close the trading account with HDFC then drop a mail on customercare@hdfcsec.com from your registered mail id with the reason of closure along with the User ID/ HSL Account Number.

Or else you can submit the scan copy of the attached Trading account closure form on the below address either in person/courier:

HDFC Securities Limited
Trade Globe, 2nd Floor, Kondivita Junction, Andheri Kurla Road, Andheri (East),
Mumbai – 400 059. Tel. No -022 39019400 W

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