Zerodha charges an account maintenance fee for maintaining your demat account, which is Rs 300 per year plus GST, usually billed as Rs 75 every quarter. This charge is for keeping your account active where you hold your shares electronically. Zerodha mainly offers investment and trading services, helping you buy and sell stocks and mutual funds easily. So if you see this fee, it's basically for the service of keeping your demat account ready and active for your transactions.
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The cancellation process for the Zerodha demat account maintenance charge is relatively straightforward as it can be done online through the console with clear steps including eSign and OTP verification. The process is well documented, allows online closure, and takes about 3 working days; thus, it is not very difficult but requires some attention to detail and time for authorization.
Estimated Time
On average, it takes 10 minutes 00 10 minutes to cancel a demat account maintenance charge subscription.
How to Cancel demat account maintenance charge: Step by Step
If you purchased through Kite Connect API:
- Log in to the developer account by visiting developers.kite.trade/login.
- Open the app and click on Cancel.
If you purchased through Stockreports+:
- Log in to your Zerodha account.
- Navigate to the Stockreports+ section.
- Uncheck the Auto-renew field to stop future charges.
If you purchased through eMandate:
- Visit console.zerodha.com/funds/mandates.
- Select the eMandate you wish to cancel.
- Follow the prompts to complete the cancellation.
If you need assistance, here's how you can get in touch with demat account maintenance charge's support team.
Phone
The phone is not available.
Email
The email is not available.
Site
The site is not available.
Tips and Tricks for Getting a demat account maintenance charge Refund
- Transfer shares to a zero AMC demat account (like Groww) before closing the original account to avoid maintenance charges.
- Request rematerialization of shares (convert electronic shares back to physical form) when stuck with non-transferable shares to enable account closure.
- Persistently escalate via customer support, starting from phone to email and then social media, to push for account closure.
- Time your closure request right by initiating it before AMC deduction dates or during account inactivity periods.
- Use firm but polite language emphasizing that you want to close the account and are unwilling to pay maintenance charges for inactive holdings.
- Close linked trading accounts or bank accounts tied to the demat account to leverage faster processing.
- Ignore low-value AMC charges if dormant, as sometimes companies may waive or settle upon eventual closure request.
- Document and cite company policies that state zero balance accounts should be closable without charges.
- Seek advice and examples from online forums like Reddit's r/IndianStockMarket or r/IndiaTax for recent user experiences and model messages.
- Be aware that dues have to be cleared before closure, so be prepared to pay any outstanding AMC but try negotiating waivers.
Why Do People Request Refunds from demat account maintenance charge
- High Annual Maintenance Charges (AMC): Users may find the AMC costly, especially if they do not actively use the account.
- Low or No Usage: Customers may want to avoid paying AMC for accounts they rarely or never use.
- Account Duplication: Users may have multiple demat accounts and want to consolidate to avoid multiple AMC payments.
- Plan to Close or Sell Holdings: Some close accounts after selling or transferring all holdings to avoid recurring charges.
- Account Deactivation after Inactivity: Inactive accounts may still attract AMC, prompting users to close them.
- Switching Brokers: Users may cancel to switch their demat account to another broker with lower or no AMC.
- Financial Constraints: Users with limited funds may want refunds or cancellations to save money.
- Lack of Awareness or Understanding: Some users cancel accounts due to lack of knowledge about AMC or incorrect account opening.
demat account maintenance charge Refund Script
Script
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Dear demat account maintenance charge, Support,
I hope this message finds you well. I am writing to request a refund due to a billing issue that arose recently. I noticed an accidental charge on my account that I do not recognize, and I believe it may have been a mistake. I would greatly appreciate your assistance in processing this refund at your earliest convenience.
Thank you for your attention to this matter. I look forward to your prompt response.
Best regards,
demat account maintenance charge Refund Policy
Zerodha's demat account Annual Maintenance Charge (AMC) is charged quarterly and will not be charged once the account closure request is processed. To cancel or close the account, all holdings must be sold or transferred, all SIPs and mandates deleted, and shares credited from corporate actions must be settled. The account closure typically completes within 3 working days after the request submission, and the AMC stops from that date onward.
The Easiest Way to Get a demat account maintenance charge Refund
If you’re frustrated trying to cancel your subscription, membership, or bill from demat account maintenance charge—or if you didn’t even realize you were being charged—Chargeback can help. Chargeback is a personal subscription manager that automatically detects hidden, recurring charges like Netflix, Hulu, and hundreds of others. With one click, we can cancel unwanted subscriptions, flag suspicious billing, and even initiate refund requests on your behalf. No more waiting on hold or navigating confusing help pages. Just connect your bank or email account, and we’ll take care of the rest.
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Account Maintenance Charge(AMC) AMC for Demat Account Account Maintenance Charge Zerodha AMC AMC Quarterly Charge
Editorial Note: These articles reflect the opinions of Chargeback's writers. Everyone's situation is unique; therefore, it is important to conduct your own research and note that our self-help tools are not guaranteed to help with any specific problem.
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