How do I switch my DEMAT from ILFS to Zerodha?
To switch from IL&FS DEMAT to Zerodha, download the IL&FS closure letter, print it out & fill it up. Refer to this article to know how to fill the IL&FS closure form. If you are an NRI, refer to this article. For HUFs refer to this article.
Along with this, download the Zerodha demat application form, print it out & fill it. Please note that if you have a joint account you will need to write the name of the joint account holder & the join holder has to sign wherever applicable.
Send both the filled forms (IL&FS closure letter & Demat application) to:
Zerodha HO [#153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore - 560078]
Once we receive the forms your Zerodha DEMAT account will be open in 48 hours & your IL&FS DEMAT account will be closed in 15 working days.
- You will have to clear the Annual maintenance charge dues with IL&FS for your DEMAT account to be closed. Click here to know how. Your Annual Maintenance Charges (AMC) for your IL&FS Demat account, which had been charged at the beginning of the year, will be reversed on a pro-rata basis for the year.
- This transfer would be considered as a 'closure cum transfer', i.e. closing your account with IL&FS and transferring out your shares, for which there will be no charges.
Important- If you have an IL&FS demat account linked to your Zerodha trading account, you will not be able to see/sell holdings in the demat account. Follow the above mentioned steps to switch your account.