How to close ICICI Demat Account

Opening a new demat / trading account in India is easy nowadays and mostly comes free when you open a salary savings account in one of the major Indian banks.  While opening bank accounts is as easy as calling the bank person to your doorstep and submitting documents, closing the ICICI demat account is the one where you will have to make all the effort.

If you have a ICICI demat account and are not using it, here is how you can close it without even going to the ICICI Branch. It is better than paying the annual fees that comes with the account second year onwards.

How to close ICICI Demat Account

  1. Download the closure form from ICICI Bank site.
  2. Fill up the details in the form.
  3. The DP id and client id can be obtained by logging into your ICICI Demat online account.
  4. Fill in the ICICI savings account number for recovery of dues if any.
  5. Sign the form.
  6. Send it by post to the address mentioned at the top of the form.
  7. You can also hand over the form in any of the ICICI branches that have demat account services.

Within a few working days of receipt of the form, ICICI Bank will send you the account closure confirmation to your registered email id.