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.

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.

Reasons for Closing Your Zerodha Account

Before you begin the closure process, it’s worth considering why you want to take this step. Here are some common reasons individuals choose to close their Zerodha accounts:

• Switching Brokers: You may have found a different brokerage that offers more competitive pricing, a wider range of investment options, better platforms, or superior customer support.
• Inactivity: If you are no longer actively trading, it might make sense to close the account to avoid recurring maintenance charges.
• Consolidating Accounts: If you have multiple demat and trading accounts, consolidating them can streamline your investment management.
• Personal Preferences: You may simply prefer a different broker’s user interface or have other reasons for making the switch.

Prerequisites for Closing Your Zerodha Account

Before initiating the closure process, Zerodha requires you to meet these conditions:

• Zero Balance: Ensure your account has no negative balances. Clear any outstanding dues.
• Empty Demat Holdings: Sell all the stocks and securities in your demat account or transfer them to a different demat account with another broker.

Methods of Closing Your Zerodha Account

Zerodha offers two ways to close your account: online and offline.

1. Online Closure

If you meet the following criteria, you can close your account online through the Zerodha Console:

• You are a resident Indian, an NRI (Non-Resident Indian), or a minor with access to the Zerodha Kite platform.
• You opened your account online.

Steps to Close Your Zerodha Account Online

1. Log in to Zerodha Console: Visit (https://console.zerodha.com) and log in using your credentials.
2. Access Account Settings: Go to the ‘Account’ section.
3. Segments: Click on ‘Segments‘.
4. Initiate Closure: Select the ‘Close account’ option.
5. Provide Reason: State your reason for closing the account and offer any additional feedback if desired.
6. Proceed with e-Sign: Follow the e-sign process, which involves verifying your Aadhaar number with an OTP (One-Time Password).

2. Offline Closure

For certain situations, you must close offline. These include:

• Non-Individual Accounts: Corporate, LLP, Partnership, Trust, etc., accounts require offline closure.
• Joint Accounts: Accounts with multiple holders.
• Minor Accounts: Accounts where the minor does not have Kite access.
• Commodity-Only Accounts: If you just want to close your commodity trading account.

Steps to Close Your Zerodha Account Offline

1. Download Form: Download and print the account closure form from the Zerodha support website (https://support.zerodha.com/).
2. Complete and Sign: Fill out the form accurately and obtain all necessary signatures (as per your account type).
3. Courier to Zerodha: Send the signed and completed form to Zerodha’s head office address: Zerodha, 153/154, 4th Cross, J.P Nagar 4th Phase, Opp. Clarence Public School, Bengaluru – 560078

Important Considerations

• Transferring Holdings: Before closure, transfer locked-in shares, mutual funds, and government securities to another CDSL demat account in your name.
• Downloading Records: Download essential reports (contract notes, P&L statements, etc.) from Zerodha Console, as access will be lost after closure.
• Reopening: You cannot reopen the same Zerodha account. You’ll need to create a new one.
• Account Deactivation: If you want a temporary pause, consider deactivating your account using Kill Switch.

Processing Timeline: Zerodha typically processes account closure requests within 7 working days. You’ll receive an email confirmation upon successful closure.

Choosing the Right Method and Making a Smooth Transition

The method of closing your Zerodha account will depend on your specific circumstances. By following the steps outlined above and ensuring you’ve met the prerequisites, you can simplify the process and ensure a smooth transition to your new broker or investment strategy.