Time limit for closure of demat account and bank account

Querist : Anonymous (Querist) 24 February 2021 This query is : Resolved
Is there a time limit for closure of demat account and bank account in a bank where nomination is there
Does law of limitation have any role in this.

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Guest (Expert) 25 February 2021
Account Holder could close the accounts when ever he feels

Guest (Expert) 25 February 2021
In Case of Nominee the Accounts would be closed Once the Transfer is Effected.. Discuss with the Concerned Bank's Branch Manager.

Querist : Anonymous (Querist) 25 February 2021
Does law of limitation have a role in this

T. Kalaiselvan, Advocate (Expert) 28 May 2021
If the account holder wants to close his demat account as well as his bank account, he may follow the procedures meant for it and submit an application to close them from immediate forthwith.
He need not have to wait for any specific period to close his accounts neither he needs to get the consent or permission of the nominee to close the accounts.

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