How to Close Your ICICI Direct Account

Last Updated: Mar 20, 2024 Value Broking 2 Mins 2.7K

If you’ve decided to close your ICICI trading account or both your trading and Demat accounts, there are specific steps you need to follow to ensure a smooth closure process. ICICI Direct is a popular online trading and investment platform in India, and if you no longer wish to use their services, here’s how you can close your account.

Step 1: Get the ICICI Direct Trading Account Closure Form

Start by downloading the ICICI Direct Trading Account Closure form, which is available on their website. Additionally, if you want to close your Demat account, you’ll need a separate form for that, also available on their website.

Step 2: Fill Out the ICICI Demat Account Closure Form

Carefully complete the ICICI Direct trading account closure form, providing all the required details such as your PAN number, date of birth, and trading account number. If you hold an NRI trading account, make sure to include NRE/NRO PINS and Non-PINS details in the closure form.

Step 3: Attach Supporting Documents

Refer to the checklist on the second page of the account closure form to ensure that you’ve provided all necessary information. To avoid any objections or rejections, attach a copy of your PAN and Aadhaar card with the application form.

Step 4: Submit the Form

You have two options for submitting your closure application form. You can either take it to the nearest ICICI Direct branch office in your city, which you can locate on their website, or you can send a scanned copy by email to helpdesk@icicidirect.com.

It’s important to note that there are some circumstances under which you may not be able to close your ICICI account:

If you opened your ICICI Demat account offline.

If you have shares in your ICICI Demat account but have lost your Delivery Instruction Slip (DIS) booklet, you’ll need to approach an ICICI Direct office for a new DIS booklet and the transfer of shares.

When switching to a new broker, make sure to research and consider your specific trading and investment needs to find the best fit for you. Remember that closing your ICICI Direct account requires careful attention to detail and adherence to the outlined steps to avoid any complications in the process.