How to open a joint demat account at Zerodha?

A joint demat account can only be opened offline. There can be a maximum of three account holders, including the primary account holder. To open a joint demat account, submit the following documents:

Application form

• Equity trading and demat account form (PDF).
• DDPI, optional (PDF). Submitting DDPI is optional. Clients who have opened accounts online can use the CDSL TPIN to authorise the debit of securities. To learn more, see How to generate the CDSL TPIN required to authorise the CNC sell transactions?
  
• KYC application form (PDF) for each account holder.

Supporting Documents

• Passport-size photographs of the joint holders to affix on the applications.
• Self-attested PAN copy of the joint holders.
• Self-attested address proof of the joint holders. Any one of the following: Aadhaar, driving license, passport or voter ID. The correspondence address of the first or primary holder must be filled in the demat form since all account-related communication will be sent to the first holder. If an Aadhaar is being submitted as proof, ensure that a masked Aadhaar is submitted, To learn how to get the masked Aadhaar, see How to download masked Aadhaar?
• A bank account proof in the primary holder's name. The bank proof can be one of the following: A personalised cancelled cheque with the name printed on it, a bank statement with the bank logo and seal, a bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
• An income proof to trade in F&O. The income proof can be one of the following:
• Bank statement with a bank logo and seal for the last six months with an average balance of more than ₹10,000.
• The latest salary slip with gross monthly income exceeding ₹15,000.
• ITR acknowledgement with gross annual income exceeding ₹1,20,000.
• Form 16 with gross annual income exceeding ₹1,20,000.
• Certificate of net worth more than ₹10,00,000.
• Statement of demat holdings with current holdings value exceeding ₹10,000.

Sample copy and signature guidelines

Check the sample equity form (PDF) for reference. Refer to the signature guidelines (PDF) to sign all the forms.

In-person Verification (IPV)

As part of the mandatory In-Person Verification (IPV) requirement for all brokers, a webcam or physical verification is required individually for each holder. The account holders must use the mobile number mentioned in the KYC forms to complete the IPV. See What is In-Person Verification (IPV), and why is it required? If any of the account holders face an issue while completing the IPV, create a ticket.

Need help? Call Zerodha’s new account opening desk at 080 4719 2020, 080 7117 5337 or create a ticket.

Once all the documents are ready, e-mail the soft copy of all the forms to [email protected]. The forms will be reviewed in case any corrections are required. After the forms are reviewed, courier the documents to:

Zerodha,
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru - 560078

A joint demat account is usually opened for the following reasons:

• To dematerialise jointly held physical shares.
• To transfer shares from a joint demat to another joint demat of another broker.

To learn all the charges involved while trading and investing, visit zerodha.com/charges#tab-equities.

Did you know?

• In a joint demat account, the tax liability on the P&L is on the first holder.
• The account will be opened within 72 hours if the documents submitted are correct.
• If a joint account is being opened to have a nominee, an individual account can be opened instead, and the nominee can be added online. See How to add a nominee to the Zerodha account online?
• The names on the Zerodha joint account may not match the names on the documents submitted because Zerodha fetches the names from the Income Tax Department (ITD) and does not update it as per the submitted documents. To learn how to update the name as per the documents, see Why does the name on the Zerodha account not match the name on the documents submitted?