How to know my Demat Account Number?
As discussed earlier, a Demat account number is provided by the depositories, NSDL and CDSL. When you create your Demat & Trading A/c with a stockbroking firm, you receive these details via email from the depositories. You can find this on the web and app platform of your stockbroker as well.
For Bajaj Financial Securities Limited customers, they can find this in their profile section of the app and the web platform. The Demat Account number differs for both the depositories. For CDSL, the Demat account number is also known as Beneficiary ID or BO ID. This is completely a 16-digit numeric ID. Whereas, for NSDL, it starts with “IN” followed by a 14-digit numeric code.
What is the Depository Participant?
A Depository Participant is a stockbroker, bank, or financial institution that helps act as a medium between a trader or investor and the stock exchange. In simple terms, if you have a Demat & Trading A/c with Bajaj Financial Securities Limited then, Bajaj Financial Securities Limited is the Depository participant in this case.
How DP ID differs from the Demat Account Number?
The Demat account number is the complete 16-digit unique code, whereas DP ID is the first 8 digits of the Demat Account number. The remaining 8 digits is your customer ID. Considering the Demat account number may differ for both CDSL and NSDL, let us understand them with a simple example.
Sample account numbers shown below to help you get familiar with the format:
For CDSL:
Demat account number – 1020304050607080
For NSDL:
Demat account number – IN11223344556677
What is the difference Between CDSL and NSDL?
Both Central Depositories Services India Ltd. (CDSL), and National Securities Depository Ltd, (NSDL) are government registered share depositories in India. Shares are held in an electronic format in the depositories. It’s crucial to understand the difference between the two to find out the 16-digit Demat account number because it will be based on the stockbroker’s affiliation (either CDSL or NSDL). Therefore, to avoid mistakes at the time of quoting your Demat account number, let’s take a look at the fundamental difference between the two in a tabular form.
| Particulars |
NSDL |
CDSL |
| Stock Exchange |
National Stock Exchange |
Bombay Stock Exchange |
| Full Form |
National Securities Depository Limited |
Central Depository Services India Limited |
| Headquarters |
Mumbai |
Mumbai |
| Year of Establishment |
1996 |
1999 |
| Demat account number format |
16-digit alpha numeric number. The account number begins with ‘IN’ followed by 14 numeric digits. |
16-digit numeric Demat account number. |
Indicators for Opening a Demat Account
Its mandatory to open a Demat account to start trading in the share market. To open a Demat account, you have to approach a SEBI-registered Depository Participant (DP). The list of such DPs is available on the websites of CDSL and NSDL.
Kindly follow the below steps to open a Demat account:
- Fill up the account opening form on the DP’s website.
- Submit all the required documents along with the form; like, PAN card, Aadhar card, passport-sized photograph, bank proof and signature.
- The entire process can be done online, however, the broking firm may call you in case there is a mismatch in details.
- After you open a Demat account, you’ll receive your Demat Account Number, and you’ll be able to invest or trade in the securities market.
Conclusion
A Demat account number is important for share market investing in India. A Demat account number is investor’s identity at the time of investing in share market. The stock market uses the 16-digit Demat account number to identify an investor and also, one must know their Demat account number at the time of applying in IPO.