A process to close the Demat account

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Demat account

In today’s world, there are many Demat accounts open every day to hold the shares of the investors. But also, there are a number of Demat accounts that are closed due to some reasons. In this article, we are going to tell you the process of closing the Demat account. You have to follow some criteria for the closure process of the Demat account.

How to close a Demat account online?

As we know, a Demat account provides the facility to hold the shares in electronic form. During online trading, you can buy or sell the shares in the Demat account. But sometimes, the investors open the multiple Demat accounts initially, and then they want to close some of the Demat accounts in between the multiple accounts.

  • First, you have to visit the depository participant’s office and submit the closure form of the Demat account here.
  • You have to attach the necessary documents with this closure form
  • After submission of the form, download the submitted form from the official website of the depository participant.

What do you mean by the Demat holding account statements?

When you buy the shares from the Demat account and set it on the same day, then it is called the Demat holding statement. The procedure for holding account statements is easy to hear, but it is not. It is like a complex process because it takes multiple days to sell your shares from the Demat account. For more understanding about the Demat account holding statements, read the following points.

  • Firstly, the shares are transferred into the pool account of the depository participant. This process will take time around T+2, where the T was the day when the process was initiated.
  • It is suggested to clear the funds from the bank account that are linked with your Demat account. That is an easy process.
  • When the shares are finally transferred into your Demat account, then after keeping the shares for two or three days, it appears the shares to be holding.
  • This condition occurs when you sell the shares on the same day as buying the shares.

A way to download the Demat holding statement

There are two ways to download the Demat holding statements.

  • From the central depository website: you can direct download the Demat holding statement from the depository website from where you make the registration of the Demat account.
  • With the help of a broker trading platform: you can see the Demat holding statements by using the trading platforms on which buying or selling the shares are performed.

Conclusion

Demat account holding statements is the conclusion of all holding shares in the Demat account along with the current value and the value that exist on the date of purchase of shares. It is required to continuously look to the Demat account to make sure that all the shares are transferred to your Demat account or not.

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