Close Kotak demat account – process and important key points.

This guide, “Close Kotak Demat Account,” will walk you through the process and highlight some key points. With demat and trading accounts, we trade stocks and use them to purchase and sell assets. There is no restriction on how many DEMAT accounts a person can open.

Closing a Demat account is as simple as opening one in the modern era. You can easily close your Kotak Demat account if you want to. But you cannot trade in the stock market after shutting your Kotak demat account. If you already have another demat account, then no.

Read more about “How to Open a Kotak Demat Account.”

How to close Kotak demat account? – process

There currently needs to be a way to close Kodak Demat account online, but there is no option available. If it becomes available, you will find information on how to close Kotak demat account online here. Now, you can close your Demat account with Kotak Securities via an offline procedure.

• You will require the “Demat Account Closing Form” to close Kotak Demat account, which you can receive from Kotak Securities or download online.
• You must complete the Kotak Demat Account Closing Form with your information. You must enter the information you provided when opening the demat account here. If you have changed your name, last name, etc., since then, you must present documentation certified by a government official.
• Provide your details and required documents for KYC
• Submit the filled Demat Account Closure Form and KYC documents to Kotak Securities Branch. Your Demat Account will be closed by Kotak Securities within 7 to 10 days.

They will question you about additional Demat Account-related information when you close Kotak Demat Account and submit the Kotak Demat Account Closing Form with your KYC documents.

What are the details required while closing the Kotak Demat Account?

• Demat Account Closure Form with KYC Documents
• DP ID of your Kotak Demat Account
• Client ID of Kotak Demat Account
• If the demat account is owned by more than one person, the signatures of all the account holders are required.

With all these details, you can quickly close your Kotak Demat account. Kotak Securities can ask the reason for the closing.

How do I close my Kotak Demat Account with a positive balance and holdings?

If you wish to close your account and have a balance and holdings, you must settle your account payments first. If you have securities, you can close the Kotak demat account with your remaining balance and holdings by following the steps below.

• First, download the account closure form from Kotak Security’s website. Or you can take this closure form from the Kotak Security branch.
• You must complete a DIS (depository instruction slip), in which you must specify the account to which you are moving the account’s remaining securities. Or you can close Kotak Demat account after selling your securities.
• Get the CML (Client master list) of targeted DP and get the relevant stamp, signature and logo.
• Submit the account closure form, DIS, CML and required documents (KYC) at your nearest Kotak Security branch.

Essential information when you are closing a Kotak Demat Account

• Remember that your account should not contain any securities, shares, etc.
• If you have shares in your account, first transfer them to another demat account. If not, sell them and send the money to your savings account.
• You must have a zero balance in your Kotak Demat account to close it.
• ISINs (International securities identification numbers) are IDs of shares of any company. Expired ISINs will belong to the company and are not traded in the stock market. If you have a demat account with ISINs and want to lock them, you must request the DP to dematerialize them.

If you want more information on the demat account, read our article ‘what is demat account?’.

Kotak demat account closing form

There are few questions related to the Kotak Demat Account.