Multiple Demat Account: Is it Possible to have Two Demat Accounts? - ICICI Direct- ICICI Direct (2024)

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Multiple Demat Account: Is it Possible to have Two Demat Accounts? - ICICI Direct- ICICI Direct (2024)

FAQs

Multiple Demat Account: Is it Possible to have Two Demat Accounts? - ICICI Direct- ICICI Direct? ›

Yes, you just need to tell us the account details and we shall link up your existing accounts with ICICIdirect e-Invest account for online investing. You can link up only an existing Bank account or only one or more Demat account(s) or both the existing Bank account and Demat Account(s).

Can I have two Demat accounts in Icici direct? ›

The answer is yes. Similar to bank accounts, you can have two or more Demat Accounts. However, the only condition is that all your Demat Accounts have to be linked to the same PAN card.

Can I have 2 Demat accounts linked to the same bank account? ›

How many Demat accounts one person can open with same Bank Account? There are two answers to this situation- Yes, you can open 2 Demat accounts with the same Bank Account in India only if brokers are different. Within the same broker, you can not open 2 Demat accounts with the same Bank account.

Can I hold 2 Demat accounts? ›

As you can have different bank accounts, you can also have more than one Demat account in India. You just link your PAN with each Demat account; there is no limit to the number of Demat accounts you can link to a PAN.

How do you handle multiple trading accounts? ›

You can open multiple trading accounts, but they should not be from the same broker. You can activate multiple trading accounts with different brokers only. A similar condition is applicable when you open multiple demat accounts.

What happens if I open multiple demat account? ›

It is legal to open multiple Demat accounts. However, it is not allowed to open multiple Demat accounts with the same brokerage firm. One can open multiple Demat accounts with full-time brokers and discount brokers simultaneously. A trader can have multiple Demat and trading accounts.

Can we create multiple portfolio in ICICI Direct? ›

You can add up to 50 stocks in one Portfolio using Custom One Click. You can create many such portfolios.

What are the disadvantages of having multiple demat account? ›

Cons of multiple demat accounts
  • Higher costs: Having more demat accounts means more account maintenance and transaction fees, resulting in higher overall costs.
  • Requires more time and effort: Managing multiple demat accounts is not an easy task. ...
  • Cost of inactivity:

Can NRI open multiple demat account in India? ›

To put it simply, the answer is yes. An NRI can have multiple NRI demat accounts under their possession. Depending on the investment objective and the type of investment, they can have different demat accounts.

Can I check how many Demat accounts I have? ›

Demat accounts allow investors a place to store their investments and keep track of them. Since all investors hold individual identities that can possess multiple demat accounts, the NSDL and CSDL allow individuals to access a master database of sorts of all their demat accounts and all demat account statements.

How can I open a second demat account? ›

Once you submit the account opening forms, it takes up to 24 hours to get the login credentials. After that, we will send the login credentials to your registered email ID. -How to log in to the Shoonya Trading Platform? Your client code shall be the user name, and the PAN number in capital letters is the password.

Can I delete my demat account? ›

It isn't possible to close a Demat account online. It requires filling out a form and delivering it to a DP's office. While the form can be available, downloaded, and tracked online, most processes remain physical and manual.

Can two Demat accounts have same mobile number? ›

Yes, you may open two Demat accounts with the same Mobile Number as long as the brokers are different. With the same broker, you cannot establish two Demat accounts with the same Mobile number.

Is it illegal to have 2 trading accounts? ›

The short answer is that yes, you can have more than one brokerage account. There's no legal limit to the number of investment accounts one person can have. And in some cases, having multiple brokerage accounts could be the best move for your financial situation.

Is it illegal to have multiple brokerage accounts? ›

When to open multiple brokerage accounts — and why. The second question is easy to answer: Yes, you can have multiple brokerage accounts. And it may even be beneficial, provided you can answer the first question: How do you know which brokerage services are best for you? (Learn how to choose the best online broker.)

Can I map multiple Demat accounts to my trading account? ›

One can map multiple Demat accounts to a single trading account. However, this depends on the brokerage one are using as; Not all brokers allow linking multiple Demat accounts held with other DPs to a single trading account. For example, Zerodha and Motilal Oswal do not have this facility.

Can we open two Demat accounts with same mobile number? ›

Yes, you may open two Demat accounts with the same Mobile Number as long as the brokers are different. With the same broker, you cannot establish two Demat accounts with the same Mobile number.

Can I add another Bank account in Icici direct? ›

Yes, you just need to tell us the account details and we shall link up your existing accounts with ICICIdirect e-Invest account for online investing. You can link up only an existing Bank account or only one or more Demat account(s) or both the existing Bank account and Demat Account(s).

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