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Cancel MOTILAL OSWAL
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Cancellation service #1 in India
4.9Calculated on 5.6K reviews
I hereby notify you of my decision to terminate the contract relating to the Motilal Oswal service.
This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual period.
Please take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper processing of this request;
– and, if applicable, send me the final statement or balance confirmation.
This cancellation is addressed to you by certified e-mail. The sending, timestamping and content integrity are established, making it a probative document meeting electronic proof requirements. You therefore have all the necessary elements to proceed with regular processing of this cancellation, in accordance with applicable principles regarding written notification and contractual freedom.
In accordance with personal data protection rules, I also request:
– deletion of all my data not necessary for your legal or accounting obligations;
– closure of any associated personal account;
– and confirmation of actual data deletion according to applicable privacy rights.
I retain a complete copy of this notification as well as proof of sending.
Important warning regarding service limitations
In the interest of transparency and prevention, it is essential to recall the inherent limitations of any dematerialized sending service, even when timestamped, tracked and certified. Guarantees relate to sending and technical proof, but never to the recipient's behavior, diligence or decisions.
Please note, Postclic cannot:
- guarantee that the recipient receives, opens or becomes aware of your e-mail.
- guarantee that the recipient processes, accepts or executes your request.
- guarantee the accuracy or completeness of content written by the user.
- guarantee the validity of an incorrect or outdated address.
- prevent the recipient from contesting the legal scope of the mail.
Cancellation Motilal Oswal: Easy Method
What is Motilal Oswal
Overview
Motilal Oswal is a financial services firm in India that offers stock broking, mutual funds, portfolio management, and wealth management services.
The firm provides web and mobile platforms for trading, SIPs, demat holdings, and related account services.
Key services
Core offerings include equity delivery and intraday trading, commodity and derivative trading, mutual funds (including SIPs) and portfolio advisory services.
Account maintenance features include AMC, brokerage plans, eDIS/holdings verification and customer support for account requests and closures.
How to cancel Motilal Oswal
Holdings / eDIS verification cancellation
- Log in to your Motilal Oswal account (web or app).
- Navigate to "My Account" → "Holdings Verification".
- Click "Cancel" next to the request and then "Confirm".
- You will receive a confirmation email after successful cancellation.
- Alternatively, call customer support and provide the request reference to cancel via phone (examples: 022 9140 548000 or 022 9116 7490600 as provided by the firm).
SIP / mutual fund cancellation
- In the app or web portal go to the Mutual Funds or SIP section and select "cancel/stop SIP".
- If the online option is not available, submit the physical cancellation form as instructed by customer support.
- Confirm cancellation by checking your order history or waiting for the confirmation email.
- Ensure outstanding obligations are settled and holdings are transferred before any account closure.
Account closure
- Contact customer support by phone or email to request account closure.
- Support will provide an account closure form and list of documents required for processing.
- Submit the completed form and any requested documents; the firm will process closure and settle remaining funds.
What happens when you cancel
Access and services
Once a specific service (SIP, eDIS verification, or account) is cancelled your access to that service is stopped per the firm’s processing timeline.
Trading or SIP orders already executed before cancellation are unaffected and remain on record.
Account data and settlements
Any remaining funds or securities will be settled and transferred according to the closure process and the firm’s settlement timelines.
Transaction history and statements generally remain accessible for a period as required by regulatory and internal record-retention policies.
Will I get a refund?
General fees and refund policy
There is no subscription fee for the Motilal Oswal app, so no refunds are applicable for app access fees.
Transactional charges such as brokerage, GST, AMC and statutory fees are typically non-refundable unless there is an administrative error or duplicate charge.
Promotional offers and exceptions
- Promotional waivers (for brokerage or AMC) are conditional on eligibility; if conditions are not met charges may apply.
- If you believe an administrative error or duplicate charge occurred, raise a dispute with customer support and provide supporting evidence for a refund review.
Motilal Oswal plans and pricing
Pricing overview
The firm charges transaction-based brokerage and account maintenance fees; app access does not require a subscription fee.
The pricing below reflects available plan information and common transactional rates; verify current tariff with the firm before transacting.
Plan details
| Plan | Price | Period | Features |
|---|---|---|---|
| Standard Trading Plan | ₹0 account opening; ₹300/year AMC (1st year free) | Annual | Equity Delivery 0.20%; Equity Intraday 0.02%; Equity Futures 0.02%; Equity Options ₹20 per lot; Commodity Futures 0.02%; Commodity Options ₹20 per lot |
Your consumer rights in India
Grievance redressal options
You can raise complaints via SEBI’s SCORES platform and the associated grievance mechanisms if a firm-level resolution is unsatisfactory.
SEBI’s online complaint facility and the Online Dispute Resolution (ODR) portal are available for escalation where local remedies are exhausted.
Regulatory context and recent actions
SEBI enforces broker conduct and levy penalties for violations; regulatory actions (including fines) are public and may affect service availability.
Changes to mutual fund exit-load policies and fund subscription availability are regulated and firms must comply with SEBI categorizations and circulars.
Customer experiences
Positive feedback
- Many users note Motilal Oswal is an established brand offering a broad range of investment products and tools.
- Reviewers often cite ease of use and perceived value for various investment products on the platform.
Negative feedback
- Complaints include aggressive sales calls, difficulty stopping SIPs or mandates, unexpected charges, and slow or unsatisfactory customer support.
- There are reports alleging unauthorized trades, hidden fees, and disputes over promotional promises like free AMC - these highlight the need to keep records and confirmations.
Documentation checklist
For SIP or mutual fund cancellation
- Account login details or app access to cancel online where available.
- Physical SIP cancellation form (if required) and a copy of PAN or KYC as applicable.
- Request/reference number and confirmation email/screenshots after cancellation.
For account closure
- Completed account closure form provided by Motilal Oswal.
- Proof of identity (PAN, Aadhaar), bank account details for settlement and any KYC documents required.
- Instructions for transfer of holdings (DIS/Delivery instruction slip) if you want to move securities to another demat account.
Common mistakes
Not confirming cancellation
Many users assume a request is complete without checking for a confirmation email or status update in order history.
Always retain the cancellation reference and verify the action was processed in the account section.
Failing to settle holdings or mandates
Attempting to close an account before transferring holdings or cancelling auto-debits can delay closure and incur charges.
Check for active mandates (e.g., ECS/mandate for SIPs) and ensure these are cancelled to prevent future debits.
Comparative recap
At-a-glance comparison
| Aspect | Motilal Oswal | Notes |
|---|---|---|
| App access cost | Free (no subscription fee) | Transactional and AMC charges may apply |
| Account maintenance (AMC) | ₹300/year (first year free under standard trading plan) | Confirm current waiver and eligibility at onboarding |
| Customer experience | Mixed - strong product range but periodic complaints on support and charges | Keep documentation and escalate grievances early if unresolved |
How to decide
Evaluate whether brokerage and AMC terms suit your trading volume and whether you need the platform’s specific research or advisory services.
Check promotional eligibility, read tariff sheets carefully, and maintain records of calls and written confirmations.
After cancelling
Immediate steps
- Save cancellation confirmation emails or screenshots and note any reference numbers provided.
- Check order history and bank statements to ensure no unintended debits occur after cancellation.
If issues remain
- Contact Motilal Oswal customer support with evidence of the cancellation and request escalation if needed.
- If unresolved, file a complaint via SEBI’s grievance mechanism (SCORES) or use available dispute resolution portals per regulatory guidance.
Address
Registered correspondence address
Palm Spring Centre, 2nd Floor, Palm Court Complex, New Link Road, Malad (West), Mumbai 400064, India.
Support channels
Use the firm’s customer support channels for cancellation forms and specific process instructions; keep records of all communications.