Closing a Demat account online is a smart step for investors who no longer use it and want to avoid unnecessary charges. Though useful for holding and trading securities, inactive accounts often attract annual fees. If you're wondering how to close your Choice Demat account, this quick guide will walk you through the process.

The following are the steps on how to close choice Demat account

Visit the website of your Depository Participant (DP) to obtain the Demat account closure form and download the form. 

Carefully complete the form with accurate details. Attach valid KYC documents like a self-attested PAN copy and a Client Master Report (CMR) if transferring shares. The form must be submitted physically either at the nearest branch or via courier to the head office.

If the Demat account is jointly held, all account holders must sign the closure form in the presence of a DP official or as per the instructions provided.

Before submitting the form, ensure your account has no securities in it. You can verify this by logging into your account. Transfer all holdings to another Demat account if needed.

Before submitting your Demat account closure request, ensure the following points are addressed to avoid delays:

Clear Outstanding Dues: Settle any debit balances linked to your account. Closure requests won't be processed if any dues remain.

Cancel Linked Investments: Make sure there are no active SIPs, mutual fund holdings, or bonds associated with the account. If present, transfer them before initiating closure.

Zero Account Balance: Ensure your account has a zero balance. Any unsettled charges or broker fees must be cleared beforehand.

Close All Open Positions: Sell all the holdings, such as stocks, futures, or options, or transfer them to another active Demat account. These positions cannot be open during closure.

Dematerialise Inactive Securities: If you have physical or inactive shares in the account, notify your broker and transfer them to a digital account before closure of the account.

Closing your Choice Demat account is a simple and essential step if you're no longer using it and want to avoid paying unnecessary maintenance fees. You can follow the above-mentioned guidelines to close your account. For guidance and expert insights into the Indian stock market, you may consider visiting Value Broking. It is a trusted resource for connecting with reputable brokers and enhancing your investment knowledge.