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The markets regulator Securities and Exchange Board of India or any other authorities have not put any limitations on multiple Demat account opening. Here are key factors on can a person have 2 demat accounts.
If you wondering, “can I open multiple Demat accounts?” or “can a person have multiple Demat accounts?”, the answer is yes. You can do so but there are certain guidelines around the same.
Now that you have a clear answer for “can I open multiple Demat accounts?” or “can we open multiple Demat accounts?”, let’s move on to the requirements of holding multiple Demat accounts.
There is no compulsory requirement to open multiple Demat accounts. You may simply have one Demat account and link it to multiple trading accounts. While the answer to “can I open multiple Demat accounts?” or “can we open multiple Demat accounts?” is yes, you need not go ahead and open many such accounts.
There is so much curiosity among new account holders on questions like “can we open multiple Demat accounts”, you need to know the advantages of multiple accounts. However, there are disadvantages too.
Based on your investment goals, you can choose between managing a single Demat account or multiple Demat accounts.
Although having multiple Demat accounts can be beneficial, they come with some disadvantages for the investor.
There are often many questions about holding multiple Demat accounts like “can we have multiple Demat accounts”, “can I open multiple Demat accounts”, “can we open multiple Demat accounts”, “can a person have multiple Demat accounts” or “can I open multiple Demat accounts in India?”
However, you should stick to a lower number of accounts. Keeping track of multiple Demat accounts becomes difficult if you are a prolific trader or investor. Opt for an IIFL Demat and Trading account and get access to quality research that will reduce the need to have multiple accounts.
Have you always wondered, “can we have multiple Demat accounts?” The answer is yes, you can have more than one Demat account against the same PAN but they must meet the conditions mentioned above.
Yes. Per SEBI, you can link two or more Demat accounts with the same bank account.
No. SEBI restricts investors or traders from opening two Demat accounts with the same broker. You can open multiple Demat accounts with different brokers.
You can link two bank accounts to your trading and Demat account. One bank account is the primary, and the other account is secondary.
To check how many Demat accounts you have, log in to the NSDL or CDSL website using your PAN card details. These depositories will display your multiple demat accounts linked to your PAN card. Alternatively, you can contact your Depository Participant (DP) for assistance.
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