If you want to close your demat account with your bank or any other company who are known and registered as Depository Participants, then you should visit their branch office or website to get the application form for closure of demat account and to submit it. Because, most probably, they will accept closure request only if you submit their prescribed application form for it.
However, some companies may also accept the closure request in written application letters if it contains all required information and is properly signed. So it is advisable that you carry a written letter for closure from your side too. Also while visiting the branch office, do carry your identity and address proof and any other documentary proof of the demat account of yours.Following format could be used as it mostly covers all such required points.
Important: If the demat account is held by more than one person, than all persons should sign it at the bottom with their full name under the signature.
FORMAT
Date: .....................
To
(Name of the Bank/Company)
(.......... Branch office)
(Branch address: ...................)
Sub.: Request for closure of my demat account
Dear Sir/Madam,
I/We am/are the sole holder / joint holders of the demat account, details of which are given below.
DP ID: ......................
Client ID: ..................
Name of the 1st/Sole holder: ...................
Name of the 2nd holder: ................
Communication Address: ................................
Phone no.: .......................
I/We hereby kindly request you to close my/our above mentioned account with effect from the date of receipt of this application by you.
I/We confirm that there are no holdings/balances in this demat account.
I/We confirm that we have already surrendered/destroyed all unutilized delivery instruction slips.
Kindly do the needful and oblige.
Thanking you!
Yours faithfully,
signature signature
(Name of the 1st/Sole Holder) (Name of the 2nd Holder)
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