Keeping demat account open?

General
1

Good morning everyone

I have accounts in 5 Paisa as well as angel broking which I am currently not using and I don’t have any plans to use them…
They currently have negative balances…
Is there any disadvantage of keeping them as such or should I pay the debits(not interested) and close them?
Thanks

2

Close it ASAP if u can. In future u may have to face penalty regarding about it.

1 Like
3

If u don’t use it will be inactive after 1 year, but if u don’t close then may u need to pay charges to brokers for closing it

4

I am in trouble here…5 Paisa balance is -3100 due to some subscription…I don’t know which…
What should I do now friends?

5

Check with ur broker 5paisa only what they have charged for it

7

@Nandu_Reddy
Bro…can you elaborate on this penalty part, if you have an idea?

8

I don’t know exactly confirm with the customer service.

9

In future, if u want to use the account u have to repay the negative balance. If u don’t want to repay leave it. After a few years of inactive automatically broker will close the account.

10

Ok thank you bro for your help

11

They don’t charge interest on the amount I guess?

12

Won’t this affect his credit score?