Table of Content
A demat account is the account where the shares that you buy are held in dematerialized or electronic form. It is not possible to have joint trading accounts. But a joint demat account is allowed. This joint demat account can have 1 primary account holder and up to 2 joint account holders. The utility of joint demat account comes where you want to hold stocks along with your family members. So you can be the primary account holder of the demat account. And your wife and daughter can be the joint account holder.
In order to trade the shares held in your demat account, you need to have a trading account. The trading account that can be linked to the joint demat account should be only of the primary account holder.
The steps for opening a joint demat account are simple.
Go to a depository participant. The depository participant is usually a stock broker, such as IIFL Capital Services. The broker will ask for KYC documents of all the joint account holders.
In the next step, you submit the KYC documents. These documents include Aadhar card, PAN card etc. As mentioned above, all the joint account holders will have to submit their respective KYC documents.
In the case of joint demat accounts, in-person verification of all the account holders is mandatory. A broker, such as IIFL Capital Services, gets it done easily and at your convenience.
After you complete the above three steps, your joint demat account will be opened. It is as simple as that.
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.