How to Delete Zerodha Account?

Many Zerodha account holders are unsure about the company’s account closure policy – as to whether or not they can opt-out of being a Zerodha Trading user. Here’s the moment of truth. Learn how to delete Zerodha Account?

If you haven’t been active on your Zerodha account for a long time or just want to discontinue using it forever, get it closed.

This is because an active Zerodha account will consume Zerodha AMC charges irrespective of the usage density.

Note that account closure is different from account deactivation. If you choose to “close”, your trading and Demat accounts shall be deleted permanently.

This means that you will have to open a new account if at all you wish to resume using Zerodha.

On the other hand, account deactivation means freezing your Zerodha Demat Account and Trading Account. This will temporarily stop the credit and debit of shares in your account.

This also means that you will not be able to access the Zerodha trading platforms (Kite, Console). However, your annual maintenance charges shall be levied accordingly. Besides, you can get the same account activated again whenever you wish to do so.

Therefore, choose between these two options carefully as per your needs and financial goals.

Here are the different options that help you learn how to delete the Zerodha account?

So dig deeper to know methods, platforms, and the process involved to delete the Zerodha account. 

Pre-Requisites For Closing the Zerodha Account

Let’s face it, opening Demat account with Zerodha, or with any broker for that matter is relatively easier than closing it.

Your Zerodha account closure request will be processed only when the following conditions are fulfilled:

No Dues: Make sure to clear all dues/negative balance from your Zerodha Trading Account. This step is mandatory as the account closure process would start only after all your dues are clear.

No Securities: There should not be any existing securities in your trading account at the time of its closure.

To delete Zerodha account, you can either opt for the online method or the offline one.

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How to Delete Zerodha Account Online

Here’s how you delete Zerodha account online:

• Download the account closure form and fill it. Visit Digio to access your e-signature.
• Upload your duly filled closure form. Then, enter your Virtual-ID
• You will receive an OTP on your registered mobile number. Enter it and your digital signature shall be affixed to your closure form.
• Submit the form by raising a ticket on Zerodha. Your closure request shall be processed in 5-7 days.
• Post the process completion, your Zerodha BO ID will be soft-deleted from the system.

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How to Delete Zerodha Account Offline?

For those who are looking for the best way to Delete Zerodha account offline, here is the simple process described below.

To close your account offline, just login to Zerodha and select “close account”. Download & print the closure form and fill it duly. Finally, post/courier it to Zerodha’s Bangalore head office.

Besides, customers opting for “account closure cum transfer” must send hard copies of the account closure form and the CMR of the target Demat account to the Zerodha head office.

Your account closure process shall be effective a month after your application or the date of settlement (no outstanding balance/funds in the account). If you have any balance then initiate a fund transfer to respective bank account.

As a customer, you have the full right to opt-out of a service/broker at any point in time. However, you must carefully study and analyze all the scenarios and probable results before making any decision.

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Bottom Line

Zerodha is the leading discount broker of the country with many active clients and a few complaints against it.

But still if you are not making the efficient use of the account or due to some other issues, you can close or delete the account easily via both online and offline mode.

If in the near future you wish to open the account, you need to follow the complete steps required to open a Zerodha Account.

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For further assistance, feel free to contact us

 

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