Zerodha has launched the option of secondary demat account for its investors on Kite and Console platforms. This means that you can open another demat account from your same mobile number and manage your shares differently. This facility is especially for resident individuals. Zerodha has about 80 lakh active active users.
What are the benefits of two demat accounts?
According to the rules of SEBI, a person may have more than one demat account. Through the secondary account, you can keep your long-term investment and short-term trading separate. This not only reduces the risk but also makes tax and accounting easier. Also, if you want to take advantage of the tools or research of different brokers, it also becomes easier.
Special things about Zerodha’s secondary account
Who can use
This facility is currently only for resident individuals. This means that any citizen of India can use this facility. However, this feature is not available for NRI, companies, partnerships and HUF accounts.
Overall, with this new option you will be able to keep your investments better separately. Everyday trading will not be distracted by stock and there will be ease in tax and accounting.