How to open a joint demat account? Here's a step-by-step guide
Opening and managing a demat account has become more convenient with the widespread availability of mobile trading applications. The process of opening a demat account through a depository participant (DP) is straightforward and akin to opening a bank account.
A dematerialised (demat) account serves as a digital repository for an investor's financial securities, holding them in electronic form. This account simplifies the storage and management of financial securities, providing investors with ease of use and accessibility.
Also Read: Demat Accounts: What are NSDL and CDSL and what is the difference between the two? MintGenie explains
The eligibility criteria for opening a demat account in India are flexible. For instance, there is no minimum age requirement for investors interested in trading and opening a demat account. Minors can also have a demat account established on their behalf by their parents or legal guardians.
Having a demat account is essential for individuals looking to participate in the Indian stock market. An individual demat account is owned by a single person, while a joint demat account can be opened by one or more members.
In this article, we will explore the concept of joint demat accounts, their advantages, and the process of opening one in greater detail.
A joint demat account is a shared investment account held by two or more individuals, where all account holders possess equal rights and obligations concerning the securities contained within the account. This may encompass stocks, bonds, mutual funds, and other financial instruments.
Typically, joint demat accounts are established by spouses, family members, or business partners seeking to amalgamate their investments for collaborative
Read more on livemint.com
