Can we open 2 demat accounts with one PAN number: You can open more than one demat account, but all the accounts must be linked to a single PAN.
Demat account is an account in which investors can hold their investment securities either electronically or non-physically. Demo accounts were introduced in India in 1996 by the Securities and Exchange Board of India (SEBI), and are essential for investors wishing to invest in the Indian stock market.

Demat and trading accounts provide easy and convenient trading and investment facilities. Merchants can open online and offline demat accounts with minimal charges today.

Is it Possible to Open more than one demat account.

Most of the investors do not believe that they can open two demat accounts. The answer is yes. You can open two demat accounts. However, you need to know the terms and conditions for opening a second demat account, which starts with the importance of linking PAN number with demat.

What is PAN and why should it be linked to Demat?

The Government of India gives a unique Permanent Account Number or PAN to every citizen. Penn allows regulators to track investor funding. It helps them to check their tax liabilities and monitor their finances.

Read More: What is BO id in Upstox ? What is mean by boid in upstox ?

Things to keep in mind while opening more than one demat account.

  • Investors are legally allowed to open two or more demat accounts, as long as the accounts are opened against the same PIN.
  • Securities purchased through multiple demat accounts are assigned a specific PIN.
  • You need to link your PAN with any demat account that you have opened.
  • You cannot open two demo accounts with the same storage partner. DP acts as a liaison between investors and savers providing NDSL and CDSLD Mate services in India.
  • If required, you can open a separate name group demat account (in common name) with the DP.

Demat Accounts and Benefits

With the advent of demat accounts, stock brokerages have been digitised, making investing easier, more reliable and more transparent. Because stocks and shares are held electronically, the problems and risks of obtaining and trading physical stock certificates are reduced. In addition, you can track your investments online through both desktop and mobile application platforms.

Read More: Upstox Vs Zerodha Detailed Comparison for Beginners

Can I use my existing DP with your business account?

Yes, indeed you can link your existing DP with your Upstox trading account. We recommend that you connect your existing Demat account only if you do most of the business of the day. It is also recommended to open a new Demat account with Upstox.

This will make it easier for you to buy and sell stocks. If you want to link to your existing Demat account then it can be done. However, if you can buy shares through your Upstox account, you will have to sell them through your existing Demat provider. When selling shares through other brokers linked to the DP account, other broker fees may be charged.

On the other hand, Upstox does not charge any fee when you buy shares. When you sell your shares from a Upstox Demat account, you get only 15% per share. Open a Demat account online with Upstox.

So Guys, How do you like your questions answer on can we open 2 demat accounts with one PAN number?, Hope you learn from this article. Please do share and comments your thoughts on can we open 2 demat accounts with one PAN number.

Read More: Step by Step Guide: How to Link PAN Card with Bank Account