How to Know your Demat Account Number

Demat account number and DP ID are a unique set of details that a customer gets when they open their Demat and Trading A/c. A Demat account number is essential for everyone participating in the stock market. It allows traders and investors to continue trading digitally. Once the Demat account is opened online with our Trading app, a welcome letter is sent by the depository (CDSL/NSDL) to the user that contains all the account information including the Demat account number.

What is a Demat Account Number?

A Demat Account number is a 16-digit account number that is unique to every Demat account holder. This is provided once a user creates their Demat and Trading account with any stockbroker. The Demat account number varies for the two depositories CDSL and NSDL. 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 a DP ID?

DP ID is different from a Demat account number.Like a Demat account number is unique to every individual participating in the stock market, a DP ID is a unique number allocated to the broking firm or financial institution that helps you with your Demat account. This is provided by CDSL and NSDL to the DP (Depository Participant).

Importance of Demat Account Number

The Demat account number is very important as it’s the number against which your orders are mapped when you trade in the share market. The Demat account number is unique to your investments and helps the stockbrokers to map the transactions that are done in your Demat account.

Moreover, if an investor has multiple Demat accounts, identifying the investments done in different Demat accounts will be tough. Therefore, Demat account number is helpful in segregating the investments of various Demat accounts and organizing the trades & the portfolio in a systematic way.

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.

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Frequently Asked Questions (FAQs)

LThe Client ID and Demat Account number are different. Client ID is provided by the stockbroker whereas the Demat Account number is assigned by the Depository.

It isn’t considered safe to share Demat account number as it is confidential to you just like your bank account number. Also, ensure that your mobile number and email address are always updated with your selected DP for more safety.

The DP ID is an 8-digit identification number of the Depository Participant provided by the Depository. Ideally, it’s the first 8-digits of the Demat account number. The DP name is the depository participant’s name/ stockbroker through which you have opened a Demat account.

Your Demat account number is mentioned in the welcome letter which is mailed to you by the stockbroker at the time of the Demat account opening. Also, you can search for the Demat A/c number by logging into your demat account.

After opening of a Demat account, you’ll receive a welcome letter or email from the broker. It contains essential information about your Demat account, including the 16-digit Demat account number. This is allotted to you once your DP successfully verifies your account opening application.

You’ll find it in the Welcome letter you get from the broker after opening a Demat account or you can find it by logging into your Demat account and checking the My Profile section.

BFSL customers can find this in their profile section of the app and the web platform. Alternatively, it can be found in the welcome letter sent after account opening. The Demat account number is also known as Beneficiary ID/ BO ID. It consists of a 16-digit numeric character whereas, in the case of NSDL, it starts with “IN” followed by a 14-digit numeric code.

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