By A Web Design
In order to close your account in PayPal, login to your PayPal Account by simply entering the URL http://www.paypal.com in your Browser Address bar and pressing GO or hitting the Enter key.
PayPal is capable of sensing that the site visitor is coming in from India, hence India centric information is being displayed. Click on the Log In button in order to login to PayPal as shown in Diagram 1.

Diagram 1
Enter the appropriate PayPal Email address and password {which was provided while creating account in PayPal} and then click on Log In as shown in Diagram 2.

Diagram2
The PayPal -> My Account -> Overview page is displayed. In order to close account in PayPal, click on the Profile link as shown in Diagram 3.

Diagram 3
On clicking Profile, the Profile summary page appears where you can edit Account Information, Financial Information and Selling Preferences.
Click on Close Account in the Account Information column as shown in Diagram 4.

Diagram 4
On clicking the Close Account link, the Close Account page is displayed. Click on Continue if you are sure of closing your Paypal account as shown in Diagram 5.
NOTE: On closing account, both your account history and reputation number will be lost.

Diagram 5
Select the reason for closing account from the given selection and scroll down to continue with the selection as shown in Diagram 6.

Diagram 6
As you scroll down till then end of the page, click on Continue as shown in Diagram 7.

Diagram 7
PayPal prompts for the confirmation of closing the account. Click on Continue as shown in Diagram 8.

Diagram 8
If you click Close Account, all of your outstanding transactions will be cancelled automatically, and your account will be closed. Click on Close Account as shown in Diagram 9.
NOTE: The remaining account balance (if any) will be donated to a charity organization on closing the account in PayPal.

Diagram 9
You have successfully closed your account in PayPal message will be displayed as shown in Diagram 10.

Diagram 10