How to Close Anand Rathi Demat Account?

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Anand Rathi, the full-service broker, offering brokerage services and wealth management services. If you are the who used its services but is not using the account, then it is better to close it. Learn how to close the Anand Rathi Demat account.

Many people unknowingly keep their Demat account active even if they are not using it. They remain unaware that the Anand Rathi demat account charges include the AMC fees even if you are not using your account.

So, in case you are not using the account, it is better to close it now.

In fact, you can transfer all your holding to one Demat account and close the inactive ones or the ones with zero balance. This not only makes things simpler but also saves you from paying unnecessary charges.

A Demat account always involves maintenance charges that are charged yearly. This AMC is charged irrespective of whether one uses the account actively or not.

This article, therefore, aims to guide you on closing your Anand Rathi Demat account. Stay Tuned!

How To Close Anand Rathi Demat Account Online?

Closing a Demat account may seem troublesome but it’s actually not an easy process if you do things correctly. You may visit your nearest branch office to get assistance.

However, before placing/submitting an account closure request, make sure that the following conditions are fulfilled:

Make sure that your Demat account does not have any shares. If it does, transfer/sell the shares before submitting your closure form.
A negative/outstanding balance is not allowed in the Demat account. Before applying for closure, make sure that you have no dues.
Close all the open positions (if any).

If any of the above conditions are not fulfilled, your account closure request is subject to cancelation.

Unfortunately, Anand Rathi does not have the provision of closing the Demat accounts online.

You can only do so by the offline method i.e, by visiting the branch.

Moreover, you can directly courier the duly filled form to the firm’s head office which is – Office No 504, 5th Floor, City Tower, Dhole Patil Road, Pune 411001

Steps To Close Anand Rathi Demat Account

Here’ how you proceed with closing your Demat account with Anand Rathi:

First, download the “account closure form” from the website and get it printed. Alternatively, you can avail of it by visiting the nearest branch.
Fill in all the required details along with the reason for closing the account.
In case you wish to transfer the securities to some other Demat account, you must fill the transfer form as well. (Available on Anand Rathi Website)
Now, send the duly filled closure form to Anand Rathi’s head office. You may also submit it at your nearest branch office and you are done. In the case of branch submission, do not forget to take the acknowledgment slip.

Anand Rathi Demat Account Closing Form

Download your Anand Rathi Demat “account closure form” now! Click Here.

In case of security transfer, you need to fill a separate form.

It usually takes about 7 to 10 working days for your closure request to be processed. You will receive a message/confirmation once your account is closed officially.

Anand Rathi Demat Account Closing Charges

Good News! Anand Rathi does not charge any fee for closing the Demat account. This means that you need not pay any extra fees.

However, make sure to clear all your dues because a Demat account with a negative balance is not eligible for closure.

Bottom Line

For those who are looking ahead for the answer like how to close Anand Rathi Demat Account, here is the complete information for all.

However, it is good to close the account only in the worst conditions as if you are not using it for more than 3 months. In case, you are not satisfied with the services, you can talk to the team to continue using the account.

For more help or to clear any of your doubts feel free to contact us.