Can I have 2 demat accounts?

Asked by: Dr. Brigitte Wuckert  |  Last update: March 2, 2023
Score: 4.1/5 (50 votes)

Investors are legally allowed to open two or more Demat Accounts as long as the accounts are opened against a single PAN. The securities purchased through multiple Demat Accounts are attributed to the unique PAN. You should link your PAN to every Demat Account you open.

Is it OK to have two demat accounts?

Yes, it is okay to have 2 Demat accounts. However, you must ensure that they are not opened with the same Depository Participant. The only exception to this rule is when you open a joint Demat account with a different combination of account holders.

Can I have 2 demat accounts with different brokers?

You can only have one demat and trading account with one stockbroker. Multiple demat and trading account helps in maintaining the investment and trading portfolio differently. A trader should be aware of the charges which comes with a demat and trading account with different stockbrokers.

Can I have two demat accounts in 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.

Can I have 2 trading accounts?

It is perfectly legitimate to have multiple Demat accounts just as you can have multiple trading accounts. The only condition is that you cannot have multiple trading accounts or multiple Demat accounts with the same broker or the same DP.

Can we open two Demat Accounts? Should we really Open Multiple Demat Accounts?

27 related questions found

Can I delete my demat account?

No, you cannot close your Demat account online. However, you can do so in person in a few simple steps. Just visit the DP's office and submit the account closure form along with hard copies of all the necessary documents. It will take approximately 7 to 10 business days for your account to be closed for good.

Can we open two demat account with same PAN card?

As per the Securities and Exchange Board of India (or SEBI), Indians are entitled to open two Demat accounts or more provided they are each linked with the same Permanent Account Number (or PAN).

Can two demat accounts use same mobile number?

No, unfortunately, this won't be possible. Your mobile number and email address cannot be used to open someone else's trading and DEMAT account.

Can I use SBI demat account in Zerodha?

Yes you can link your sbi demat account with zerodha trading account with the help of client master list issued by sbi demat while opening account.

Which is best Upstox or Zerodha?

Upstox offers priority brokerage plan (at Rs 30 per trade) which has up to 25x leverage on Intraday, Futures & Options. Zerodha has one simple plan for all customers. Zerodha has much stronger focus and investment in technology which results in a better trading platform, trading tools and customer support.

Can I have account in both Zerodha and Upstox?

Yes, you can open an account with Zerodha even if you already have a demat account with another broker. According to the Securities and Exchange Board of India (SEBI), an investor can open two or more demat accounts under the same PAN.

Which is better Zerodha or Groww?

While Zerodha and Groww, both are online discount brokers, Zerodha is better than Groww on the following counts: Zerodha is the pioneer of the discount broking business in India. Zerodha offers brokerage-free Equity Delivery trading. Zerodha allows to trade in Currency as well as Commodities along with Equity and F&O.

Can I have 2 demat accounts India?

You cannot have multiple demat accounts or multiple trading accounts with the same Depository Participant (DP) or the same broker. Therefore, if you have a demat account or trading account with a DP or broker, you cannot open another account with them.

What happens if I dont close my demat account?

After some time, your demat account is declared a dormant account (inactive). This means you can't do any transaction until it's reactivated. To reactivate, you have to pay the reactivation fee (~ Rs 500) and clear all the dues (AMC + interest).

Which is better SBI cap or Zerodha?

Zerodha margin for intraday trading is up to 20% of the trade value (5x leverage) based on the stock whereas the SBI Securities margin for intraday cash is also up to 20% of the trade value (5x leverage) based on the stock.

Which is best Zerodha or Angel Broking?

Zerodha is the most technologically advanced stock broker in India with the highest number of customers. Zerodha has much better self-serving and education awareness platforms than Angel One. Angel broking offers API for trading for free. Zerodha charges a monthly fee.

Does Zerodha charge monthly?

5. Does Zerodha have annual charges? Yes, Zerodha charge Rs 300 per year Demat Account AMC (Annual maintenance charges) fees. This fee is charged quarterly (i.e. Rs 75 every quarter).

Can I have 2 Zerodha accounts with same PAN number?

No, individuals cannot open multiple trading accounts with the same PAN with any brokerage firm in India. As per the Securities and Exchange Board of India (SEBI) regulations, a PAN can be linked with only one trading account opened with a broker.

How many demat accounts I can open?

You cannot open more than one Demat account with the same Depository Participant or DP or with the same broker. Each account you hold will attract separate charges for annual maintenance. Not using the Demat account will attract charges and might be frozen.

Can I close my demat account immediately after opening?

The demat account can be closed by the individual once the balance of the account becomes zero.

How can I transfer shares from one demat account to another?

Process of transfer of shares from one Demat account to another
  1. Step 1 - The investor fills the DIS (Delivery Instruction Slip) and submits it to the current broker.
  2. Step 2 - The broker forwards the DIS form or request to the depository.
  3. Step 3 - The Depository will transfer your existing shares to the Demat account.

Can I close Zerodha account online?

Closing your account online

eSign and click on Sign now. Once you Accept the T&C, enter your Aadhaar number and click Send OTP. Enter the OTP received on your Aadhaar linked mobile number and click Verify OTP. Your account will then be closed within 72 working hours.

How can I add multiple demat account in CDSL?

To add a trusted account on CDSL Easiest follow these steps: Log in to CDSL Easiest by visiting . Click on Miscellaneous and then Edit Trusted Account. Click on Add Trusted Account and Enter the 16-Digit BO ID where stocks need to be transferred.