How many IPO applications are allowed from one bank account?

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Most banks allow only one online IPO application from a bank account. But some banks such as SBI and Axis Bank allow up to 5 IPO applications from one bank account. This process is called a third-party IPO application facility.


  • Only one IPO application per bank account is allowed when using UPI as a payment gateway. Brokers like Zerodha, Upstox, and Angel offer only 1 IPO application per bank account.
  • Only a few banks like SBI, Bank of Baroda, RBL, Axis, and IndusInd Bank offer five applications from 1 bank account.
  • In 3rd party IPO application, all the applicants must have PAN cards and Demat accounts.
  • Online IPO applications for Minor and HUF accounts are possible only through banks offering 3rd party IPO applications.


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