How to Open a Joint Demat Account?

3 min read | Updated on October 03, 2025, 16:40 IST

About Upstox

Upstox is a leading Indian financial services company that offers online trading and investment services in stocks, commodities, currencies, mutual funds, and more. Founded in 2009 and headquartered in Mumbai, Upstox is backed by prominent investors including Ratan Tata, Tiger Global, and Kalaari Capital. It operates under RKSV Securities and is registered with SEBI, NSE, BSE, and other regulatory bodies, ensuring secure and compliant trading experiences.

Opening a demat account is the first course of action in your investment or trading journey. A demat account holds your shares in a dematerialized and electronic form.

Many investors prefer a joint demat account when they want to manage and track investments together. It not only simplifies record-keeping but also ensures transparency and shared responsibility.

Can you have a joint demat account?

You can have a joint demat account, but unlike a joint bank account, you cannot convert an individual demat account into a joint one. Before opening a demat account, you will be offered a joint demat account option that can only be selected when opening a demat account.

If an individual didn’t opt for a joint demat account option, he can add nominee(s) to whom the securities held in a demat account will be transferred in case of the account holder’s demise.

Benefits of a joint demat account

Cost Effective

When you open any demat account, the DP (depository participant) charges a fee for providing its services. If you and your spouse have different demat accounts, you both will be charged individually, but when you have a joint demat account, your account will be charged as a single demat account.

Convenience

A joint demat account allows all holders to have access to the securities and monitor the investments whenever they wish.

Pool investments

There’s no rule that only family members can have a joint demat account, you can open a joint account with friends or business partners. This allows you to pool the funds and collectively invest in securities that you couldn’t invest in individually.

Shared ownership

All the account holders in a joint demat account share the ownership of the securities held in it. This simplifies investment tracking and facilitates a unified approach to investing.

Transparency

A joint demat account provides transparency to all holders regarding securities held and traded. A joint demat account helps families in collective financial planning and investment decisions.

Documents required for a joint demat account

The following are the documents required for a joint demat account

Permanent Account Number (PAN) Card of all holders
Address Proof/Aadhar Card
Cancelled Cheque
Passport-size photographs
Signature Verification
Nominee Details (optional)

How to open a joint account?

Follow the steps below to open a joint demat account

Step 1. Select a depository participant you wish to open your demat account with. A depository participant like Upstox is the middleman between the depositories like NSDL or CDSL and the investors. Such depository participants charge a fee for their services.

Step 2. Fill out the joint demat account application form. You have to fill in the details of all account holders.

Step 3. Next is KYC. You can complete the KYC procedures online by submitting the required documents. You can also add nominee(s) to the account.

Step 4. After all documents are submitted, an in-person verification (IPV) or video KYC will be conducted.

Step 5. Once the documents are reviewed and verified by the depository participant, the joint account will be created. On activation of the account, all joint holders will receive the account credentials

Frequently asked questions

Can I convert my individual demat account into a joint account?

No, you cannot convert an existing demat account into a joint demat account. You can, however, add nominees to your account.

Can I have a joint demat account with family and friends?

Yes, you can have a joint demat account with your spouse, children (18+), friends and business partners.

How can I open a joint demat account?

Yes, you can open a joint demat account by choosing a depository participant of your choice and opening a joint demat account.

About Author

Upstox Desk

Team of expert writers dedicated to providing insightful and comprehensive coverage on stock markets, economic trends, commodities, business developments, and personal finance. With a passion for delivering valuable information, the team strives to keep readers informed about the latest trends and developments in the financial world.