Can I open more than one demat account with Zerodha?
Yes, you can open more than one demat account, i.e. an individual and a joint demat account. But, only one trading account in an individual's name is allowed per customer. See, Can more than one trading account be opened with Zerodha?
Opening a joint account requires submitting physical forms. To open a joint demat account, see, How to open a joint demat account at Zerodha?
Did you know? If a customer has two demat accounts, the individual demat account is linked to the trading account by default. This means that if you buy securities, they get credited to your individual demat account. Create a ticket if you want your joint demat account to be linked with your trading account.
Why do customers open multiple demat accounts?
The following are some reasons you may need multiple demat accounts:
- You hold share certificates in joint names to be dematerialised, and currently have an individual demat account with Zerodha. See, Can I de-materialise jointly held physical shares?
- You have a joint demat account with Zerodha, but hold share certificates to be dematerialised in individual names. Or, you want to transfer shares from another broker/Depository Participant (DP) where you have an individual account but have a joint demat account with Zerodha. In this case open an individual account, see, How do I open an account online?
- You want to transfer shares from a joint account with another broker, and already have an individual demat account with Zerodha. In this case, open a joint account, see Can I open a joint demat account at Zerodha?