You can open a joint demat account offline only. You can include a maximum of three account holders, including the primary account holder.
Only one trading account can be opened per individual. However, you can open multiple demat accounts. Zerodha has made online and offline account opening free for resident Indian accounts from 29th June 2024.
Documents required
Submit the following documents to open a joint demat account:
Application forms:
- Equity trading and demat account form (PDF)
- DDPI (PDF) - optional. Submitting DDPI is optional. You can use the CDSL TPIN to authorise the debit of securities if you have opened accounts online.
- 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. You can submit any one of the following: Aadhaar, driving licence, passport or voter ID. Fill the correspondence address of the first or primary holder in the demat form since Zerodha will send all account-related communication to the first holder. If you are submitting an Aadhaar as proof, ensure that you submit a masked Aadhaar.
- A bank account proof in the primary holder's name. You can submit one of the following bank proofs: A personalised cancelled cheque with the name printed on it, a bank statement with the bank logo and seal, or a bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
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An income proof to trade in F&O. You can submit one of the following income proofs:
- 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
- Latest statement of demat holdings with current holdings value exceeding ₹10,000 (Your holdings must not be pledged)
- Latest Fixed Deposit (FD) receipt with a deposit amount exceeding ₹1,00,000
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
As part of the mandatory In-Person Verification (IPV) requirement for all brokers, each holder requires a webcam or physical verification individually. For joint accounts, two different mobile numbers are required to complete the IPV for both holders separately. You must use the mobile number mentioned in the KYC forms to complete the IPV. 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.
Document submission process
- Email the soft copy of all the forms to [email protected].
- Zerodha will review the forms in case any corrections are required.
- After Zerodha reviews the forms, courier the documents to:
Zerodha Customer Support Centre
192A 4th Floor,
Kalyani Vista, 3rd Main Road,
JP Nagar 4th Phase,
Bengaluru, 560076
Common reasons for opening joint demat accounts
You usually open a joint demat account 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.
Things to keep in mind
- In a joint demat account, the tax liability on the P&L is on the first holder
- Your account will be opened within 72 hours if you submit the correct documents
- If you are opening a joint account to have a nominee, you can open an individual account instead, and add the nominee online.
- The names on your Zerodha joint account may not match the names on the documents you submitted because Zerodha fetches the names from the Income Tax Department (ITD) and does not update it as per the submitted documents.