How to Close IIFL Demat Account


IIFL Demat Account Closing Process

Demat accounts entice annual charges and upkeep charges. It is a appropriate thinking to shut all your inactive or zero stability demat accounts. If there are lively balances, they can be consolidated into one account and the ultimate redundant demat accounts can be closed.

Closing a demat account entails touring the DP workplace or department by using any of the demat account holders and submission of requisite structure and
documents.

IIFL does now not provide on line account closure process, one want to put up bodily account closure form.


The account holder can down load the account closure request form from IIFL website and fill it manually

Step to be followed to close Demat account

Conditions to be fulfilled to close Demat account

  • Submit a duly- filled RRF if the balances are to be re-materialized
  • Submit a duly filled Delivery Instruction Slip (DIS) (off market Instruction slip) if the balances are to be transferred to another account. This requirement is not applicable in the case of “Shifting of account/transfer cum closure
  • Accounts opened in the name of Proprietorship/Partnership/HUF/Corporate/Trust, stamp of the respective entity has to be affixed along with signature
  • All the necessary details along with signature should be filled in with Black or Blue Ink Only. If the form is filled & singed with other Ink or Pencil, the same will be rejected
  • In case of transfer cum closure. Reason for closing the account should be “Shifting of Account”
  • In case of Transfer cum closure, latest Client Master report (DPM generated) duly stamped & signed by official of the new DP is required
  • If DP or CDSL initiates account closure. Signature(s) of account holder(s) not required

Demat Account Closing Charges

No Closing charge in IIFL for closing Demat account

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