Closing your account would mean that you will have to completely re-do the account opening process to resume trading with Navia. Please note that there is no recurring fee or AMC applicable for keeping your Account active with Navia. Charges are applicable only when if you Trade.
You have two options to close your account with Navia:
1) Online Option
> Select Account Closure as seen below screen
Following are conditions to close account online:
- The Trading/Demat Account should be in Individual status.
- The Ledger balance should be Zero.
- Demat holding and Open Positions should be NIL.
- Your mobile number should be mapped to your Aadhaar number to enable you eSign the closure request.
- You request to close the account will be processed in 3 working days.
2) Offline mode - Print out the attached Closure Form, fill it out completely, and send the filled account closure form to our Corporate Office address below:
Navia Markets Ltd
4th floor, Ganga Griha
No.9 Nungambakkam High Road
Nungambakkam, Chennai – 600034.
The account closure request will be processed within 3 working days.
Scroll down to download the Annexure Q from the attachment meant for Account closure
- Your account cannot be closed if you have negative balance in your Ledger Account. Click here to know how to transfer funds to Navia
- Your account cannot be closed if you have credit balance in your ledger account. Place a funds withdrawal request and submit your closure request once the funds are credited to your Bank A/c. Check here to know more about Funds withdrawal.
- You need to ensure there are no holdings in your Demat account or any open positions in your Derivatives Account. In case you have open positions, you can square off the positions and then submit the closure request. In case of holdings in Demat Account you can either sell them and withdraw your funds or transfer your shares to another Demat Account. Shares under Lock-in , Government Securities and Mutual Funds can be moved only to another NSDL Demat Account that belongs to you.
- Closure-cum-transfer is possible only if a signed hard copy of the account closure form is submitted. You will have to send the CML (Client Master List) of the target Demat account. The target account needs to be in the same order of name(s) as your Navia Demat account. The CML has to be in the form of a hard copy with a seal & signature for NSDL accounts. It can be digitally signed CML by the DP for CDSL accounts.
For any further clarification / assistance in this regard, raise a ticket from our Support Portal here
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