Close 5Paisa Account Or Delete 5Paisa Account:- Hi Readers, Today we tell you how can you close your 5Paisa Account because of Free Demat Account charges which called AMC charges so if your account inactive or dormant account then you need to close your account or delete your account to avoid AMC Charges and some other charges too. So to avoid AMC charge a good idea to close your account online or offline which the processing company is giving to you. So today we tell you how to delete 5Paisa Account?
Close 5Paisa Account Or Delete 5Paisa Account
5Paisa is the fastest growing discount broker is a subsidiary of the IIFL group. The company moved to cater to the demand for discount broking business. 5Paisa is offering discount broking services to increase its reach to a tech-savvy generation. And now 5Paisa has started a new offer to their user up to Rs.1000 each referral. They have 3 kinds of plans to choose from better according to your uses. Free Demat accounts attract annual account maintenance charges. So it is a good idea to close an inactive or dormant account. In case you have many company accounts, you can merge all the securities into one account. This will help you save on maintenance charges and other extra fees.
Whatever be your reason for closure your Free Demat Account, you can close your Demat Account with 5paisa anytime. You don’t have to pay any fees or charges for closing your Demat account.
Before you start your 5paisa Demat account closure, you need to know 2 key facts:
- 5paisa doesn’t allow closure of the Demat account online.
- If you have a joint account then all the holders need to sign on the form for its closure
Also, there are a few things; you should do before to speed up your account closure process:
- Close all your open F&O positions in the market.
- Transfer your existing securities in the Demat account to another account
- Keep your Demat account empty
- Pay all pending dues, if any, with the company.
Steps to Close 5Paisa Account Or Delete 5Paisa Account
- Download the Account Closure Form from the 5paisa website. Or 5Paise account-closure-form Download
- Scroll down to the bottom of the home page of the website.
- You will find the form at Customer Support >> Forms Download section.
- In case, for some reason, you are unable to download the form then please contact customer care. You can reach them via phone and email.
- Fill the form by providing all the required details.
- Please remember that in the case of the joint account, all holders of the account need to sign on the form.
- Attach all the required documents like a copy of the ledger, unused DP slips. And courier the form to the company’s head office.
- Follow up with the customer care after a week of submission of the application to know the status of your account.
- 5paisa will start the procedure for transferring securities within 30 days.
- You will receive intimation for account closure and a final statement.
Final Words- Kindly avoid your AMC Charge and close 5paisa Account.