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.
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 15 minutes0015 minutes to cancel a demat account maintenance charge subscription.
How to Cancel demat account maintenance charge: Step by Step
If you need assistance, here's how you can get in touch with demat account maintenance charge's support team.
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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
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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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Frequently Asked Questions
Zerodha allows you to cancel your demat account and stop the Annual Maintenance Charge (AMC) from the day the closure request is processed. However, you cannot close the account if you have a negative balance or if corporate actions like bonuses or splits are pending. All holdings and positions must be sold or transferred, and any SIPs or mandates must be deleted before closure, which can be a bit cumbersome. There are no early cancellation fees or lock-ins, but once closed, you cannot reopen the same account and must create a new one if you want to return.
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.
Account closure form (eSigned or physically signed, as applicable)
Clear account balance; must not have a negative balance
No open holdings; all shares and securities must be sold or transferred
No open positions; all trading positions must be squared off
All SIPs and Mandates deleted prior to closure
Download all reports and statements (contract notes, ledger, P&L) from console.zerodha.com before closure
Signatures of all account holders (in case of joint account or minor)
Aadhaar (for online eSign and authorisation through NSDL for individual accounts)
Appropriate authority signature and board resolution/authority letter (for corporate/non-individual accounts)
Courier address for offline process (for certain accounts): Zerodha Customer Support Centre, 192A 4th Floor, Kalyani Vista, 3rd Main Road, JP Nagar 4th Phase, Bengaluru, 560076
Reason for closure and feedback (selected during online account closure)
Account details confirmation and acceptance of terms (during closure process)
Ticket creation for special cases (e.g., joint holders, minors without account access, closing commodity account)
Before cancelling the demat account maintenance charge (AMC) with Zerodha, know that the AMC is a quarterly fee required to maintain your demat account, and stopping payment can lead to your account becoming inactive or dormant. When you decide to close your Zerodha demat account, ensure you have squared off all positions and transferred or sold all holdings, as you lose access to all shares and transaction capabilities post-closure. You must delete all SIPs and mandates linked to the account before initiating closure. Also, it is crucial to download all essential documents like contract notes and ledgers before closing because you won't be able to access them afterward. Once the closure request is processed, AMC charges will stop, but reopening the same account is not possible; you will need to open a new account and potentially face restrictions if you frequently open and close accounts with the same PAN.
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.
To cancel the demat account maintenance charge (AMC) subscription with Zerodha, you need to log in to your Zerodha Console account and follow the account closure steps that include eSigning and OTP verification for authorization. There is no explicit mention of needing your account password specifically for cancellation, but you will need to authenticate via login and OTP. If you forgot your Zerodha Console password, you can reset it here: https://Console.zerodha.com/forgot-password. This process ensures secure authentication while allowing you to cancel the AMC.
We've actually written a step by step guide on how to get a refund from demat account maintenance charge. Check it out!
The cancellation process typically takes about 15 minutes to complete. However, the actual time may vary depending on your account settings and whether you need to contact customer service. Most cancellations are processed immediately, but some may take up to 24 hours to take effect.
After canceling your demat account maintenance charge subscription, you'll typically have access to the service until the end of your current billing period. You won't be charged for the next billing cycle, and your account will be deactivated once the current period ends. Make sure to download any important data before cancellation.
Yes, you can usually reactivate your demat account maintenance charge account by logging back into your account and resubscribing. However, you may need to go through the sign-up process again and provide payment information. Some services may offer special reactivation deals for returning customers.
If you're unable to cancel demat account maintenance charge online, contact their customer service directly using the phone number, email, or website provided above. You can also use our refund script to help you communicate effectively with their support team. In some cases, you may need to provide additional verification or documentation.
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¹ Total savings is calculated based on internal annualized estimates of
savings for customers. ² Average requests times may vary depending on volume of requests
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