Important Things to do Before Closing Zerodha Account
Before you begin the closure process, it’s essential to take care of the following:
- Settle Negative Balances: Ensure your account has a zero or positive balance. Clear any outstanding dues or fees to avoid complications during closure.
- Liquidate or Transfer Holdings: Sell any stocks, mutual funds, or other securities you hold in your Zerodha Demat account. Alternatively, you can transfer them to another Demat account. Remember, locked-in shares, mutual funds, and government securities can only be moved to a CDSL Demat account in your name.
- Download Reports: Download essential reports like contract notes, profit and loss (P&L) statements, and your ledger from Zerodha Console. You’ll lose access to these after your account is closed.
How to Close Zerodha Account?
Zerodha is one of India’s most popular discount brokerages, known for its low-cost trading platforms. However, if you decide it’s time to move on, closing your Zerodha account is a relatively straightforward process. Here’s a comprehensive guide on how to do it, including reasons you may choose to close your account and the steps involved.