Can more than one demat account be opened with Zerodha?
Yes, more than one demat account can be opened, i.e. an individual and a joint demat account. To open an individual account, see How to open a Zerodha account online? To open a joint account, see How to open a joint demat account at Zerodha?
Even though two demat accounts can be opened, only one trading account can be opened per client, and it will be linked to the individual demat account. To link the joint demat account with the trading account, create a ticket. Kite will display only holdings in the demat account linked to the trading account. Holdings for both the demat accounts can be viewed on Console by visiting console.zerodha.com/portfolio/holdings.
Multiple demat accounts are opened for the following reasons:
- Jointly held physical shares can only be dematerialised into a joint-held demat account, not an individual demat account. Clients who hold individual demat accounts will have to open a joint demat account. See, Can I dematerialise jointly held physical shares?
- Physical shares are to be dematerialised into an individual account and the client holds only a joint demat account. In this case, an individual demat account is to be opened.
- Transfer of shares from an individual demat account with one broker to another where only a joint demat account is held. In this case, an individual demat account must be opened with the new broker.
- Transfer of shares from a joint demat account with one broker to another where only an individual demat account is held. A joint demat account must be opened with the new broker in this case.