How many Demat accounts one person can open with one PAN card in Zerodha?
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- Updated On:27-Sep-2022
- Replies:1
Short Answer
You cannot open more than one individual demat account with one PAN card in Zerodha. However, if you already have a demat account with Zerodha and want to open a second joint demat account with the same PAN card, that is possible to do so.
Detailed Answer
What is a discount broker?
A discount broker is a broker who offers an online platform for buying and selling stocks and charges a lower commission than other brokers for their services. A discount broker, however, does not advise clients on investments or carry out analyses on their behalf. Discount brokers offer an online platform for trading and investing; all you need is a demat account to get started.
Is Zerodha a discount broker?
Yes, Zerodha is one of the leading discount brokers in India. It provides trading at the NCDEX, MCX, NSE, and BSE. Zerodha has affordable fees and even provides free equity delivery trading. The web and mobile trading platforms are intuitive and beautifully designed for better user experience. There are many top-notch research tools available in the Zerodha platform which can be used for technical analysis.
Opening an account with Zerodha is super simple. You will have to follow a few steps and you will be ready to make investments through the Zerodha platform.
Documents required for opening an account with Zerodha
- A valid PAN card (mandatory and an Aadhar Card
- A mobile number linked with an Aadhar Card
- A bank proof, such as a cancelled check, bank statement, or front page of a book.
- Signature on white paper.
- A recent passport-size photograph of yours.
Note that in order to open a demat account with any broker, you must have a valid PAN card with your photo and signature clearly visible.
How many Demat accounts one person can open with one PAN card in Zerodha ?
In simple words, one cannot open multiple demat accounts with one PAN card in Zerodha.
However, there is one situation in which Zerodha allows you to open more than one demat account with one PAN card.
Let's suppose you have an individual demat account in Zerodha and now you want to open a joint demat account with the same PAN card. Then it is possible, but even in that scenario, you can't open another trading account with the same PAN card.
Demat accounts with one PAN card in Zerodha
In Zerodha, you can only open one individual demat account with a single PAN card, but it is possible to open a joint account as well using the same PAN card.
Now, if you have decided to enter the stock market, you can open a quick online account with Zerodha, the no.1 stock broker in India.
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Discussion (0)
One can open multiple demat accounts with one PAN card. However, you are not allowed to open more than one demat account with the same broker or Depository Participant (DP), so you must look for a different broker to open another account.
One person can open multiple trading accounts with one PAN card in India. But you cannot open more than one trading account with the same broker using the same PAN card.
You are required to fill up and submit a number of forms and documents via post to open a Zerodha account as an NRI. Continue reading and be informed.
Yes, you can apply for an IPO application under a minor or HUF's name, provided they have different PAN card numbers. Minors can open a Demat account with their parent’s PAN Card and bank account.
Zerodha is India’s largest and most trusted stockbroker with more than 3.4 million active clients. You can open an account with Zerodha easily by following some simple steps. Make sure you have all the necessary documents before you start with the account opening process.
Yes, one can have multiple demat accounts, but there is a restriction: you cannot open more than one demat account with the same depository participant (DP) or broker. Instead, you can open other demat accounts with different brokers.
Absolutely, you can open two or more demat accounts with one single bank account. You can, later on, add other bank accounts to your demat account as per your requirements.
Public Provident Fund Scheme is a saving scheme that comes with tax benefits. Ministry of Finance introduced this scheme in the year 1968. The main objective of PPF is to encourage general people to mobilize their small savings. The interest offered on these schemes are not taxable. Precisely, PPF is an investment with non-taxable returns.
You need to download the account closure form available at Demat Account Closure Form and submit it at your nearest YSL branch. For the detailed process, read further.
If you are a Zerodha customer, you can apply for IPO online through Zerodha Console (Zerodha Back-office). The process for applying an IPO process has been explained in detail above. Here are few other answers to important queries that you may want to learn.