Can one have more than one Demat Account on one PAN card?

#1
Hi, sorry if this has been posted earlier.
I have a Demat account with ICICI DIRECT, now I want to open one with Zerodha. Can I have two Demats on my PAN card?
Are there any issues regarding depositories in this matter?
Please help.
Thanks in Advance.

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copypasteaee

Humbled by Markets
#4
why have 2 demat accounts, just link your zerodha account to your icici demat. use BSDA facility on ur existing demat account
 

bpr

Well-Known Member
#5
this is a something SEBI should ban there is no need of multiple demat account.
the user end up paying multiple AMC charges and additional headache and every broker pushes to have their own demat. Transitioning demat to another broker is a lot of headache.

One person should have only one demat account and then a electronic interface should be provided where the user can login and give write/read access to different brokers.

Write access -- > can deposit and as well as remove
read access --> can only deposit.

The user should be in control.

Obviously at a time only one broker will have write access.
 

MDK

New Member
#7
One demat account for Long term investments and another for trading -this is the most common need for opening multiple accounts -

Under current regulations the POA cannot be provided to multiple brokers from one demat account and hence again the need for multiple accounts

May be in future with all the upcoming Digitization and seamless movement of securities plans we may not feel the necessity for multiple accounts. Till then live with it
 
#8
You can have multiple Demat accounts. Demat account is just like a bank account. In Bank, you save money and demat you store the shares. So you can own more than two demat accounts and it is legal and you will not face any issue.

But only the disadvantage of having multiple demat accounts is that you have to bear AMC. So it is always good to have a single demat account.
 

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