How to open a joint demat account at Zerodha?
A joint demat account is usually opened in the following cases:
- The client has jointly held physical shares and wants to dematerialise them.
- The client has a joint account with another broker and wishes to close that demat account and transfer the shares to 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:
1. Demat account form ( PDF ). Follow these instructions (PDF) to fill the form. 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.
2. Individual KYC forms ( PDF ) with passport-sized photographs affixed and signed across it.
3. Individual PAN copies and address proofs of the joint holders.
4. A copy of the income proof if trading in F&O, commodity or currency. Submit any one of the following:
- Bank statement in the name of the applicant 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 holdings value exceeding ₹10,000.
5. Bank proof of the primary holder.
6. Power of Attorney (POA) ( PDF ). This is optional, see What is Power of Attorney (POA), and why is it needed?
Need help? Call us on 080 47192020, 080 71175337 or create a ticket .
Did you know?
- In a joint demat account, the tax liability on the P&L is on the first holder. See Who is liable to pay taxes on the P&L in a joint demat account? .
- If a joint account is being opened for the purpose of having a nominee, an individual account can be opened instead, and the nominee can be added online. See How do I add a nominee online in Zerodha?