Closure of HDFC bank ISA account

Personal finance
1

I have 3 MFs and 1 ELSS fund savings done through the HDFC Inverstment Services Account. I’ve already converted the 3 MFs to DEMAT form and the units are listed in my Coin portfolio. I want to close the HDFC ISA, but the bank is asking me to convert the existing units listed in the ISA to offline mode before closing the account. My question is
Will the already DEMAT converted units of 3 MF be also trasferred out to offline mode?

2

Hey @Dandugula

If you’ve already converted it into DEMAT form and moved it to Coin, you needn’t convert it to physical/offline mode.

Please raise a ticket on our support portal and our support representative will help you out with this query.

3

@Kshiteesh_Saralaya, As these transferred MF units are still reflected in my HDFC ISA account, HDCF bank refuses to close the account. They are asking me to transfer out the units (to offline mode) before the account can be closed.