Can a second or third holder be added to an existing individual account to make it a joint account?

A second or third holder cannot be added to an existing individual account to make it a joint account. Instead, a new joint account must be opened. To learn how to open a joint account, see How to open a joint demat account at Zerodha?

The joint account can be opened while retaining the existing individual account if the primary holders of both these accounts are different. If the primary holder of the joint account must be the same as the individual account, then the individual account must be closed.

Example scenario

John has an individual account with Zerodha and wants to add his spouse, Sarah, as a joint holder. Sarah cannot be added to this existing account. Instead, they can open a new joint account. In this case, John cannot be the primary holder of the joint account due to his existing individual account, but he can be added as a second holder. If John and Sarah wish for John to become the primary holder of the joint account, they must close John's existing individual account and open a new joint account where John can be the primary holder.

Did you know? A nominee can be added to the existing individual account. To learn how to add a nominee, see How to add a nominee to the Zerodha account online?