A demat account, which allows you access to a variety of investing possibilities, is now as crucial as having a bank account. You can purchase and sell across equities, derivatives, currency, commodities, mutual funds, and others with a demat account. However, the majority of people are unaware of how to find a Demat account number.
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What is Demat Account Number?
You get a unique 16-digit account number referred to as the demat account number when you register a demat account with a depository participant, which is generally your stockbroker.
You can invest and trade in the financial markets with this one-of-a-kind code. To trade on exchanges like the NSE, BSE, and MCX, you must link your demat account to a digital trading account.
The word “demat” refers to the process of replacing physical records or certifications with a paperless digital system. The goal of getting a demat account is to make online share market trading more convenient for investors.
The keeping of stocks and securities in digital format is made easier with a demat account.
How to know Demat Account Number?
As described about Demat account Number is 16-digit demat number given by DP to the account. The first eight digits of your demat account number are usually your DP ID, and the following eight numbers are the account holder’s customer ID.
Your Depository Participant Identification (DP ID) and your customer ID will be combined to form your demat account number.
When you open a demat account with a Depository Participant (DP), you’ll be given a unique account number known as a Beneficiary Owner Identification Number (BOID), which you’ll use for all future transactions.
How to find Demat Account Number from Pan?
The best way to find Demat Account Number from Pan card is to search your pan card number in the registered email id inbox. You will find the email from your CDSL or NSDL which includes your Demat Account Number as CDSL and NSDL both send welcome letters via email nowadays.
However, if you don’t have registered email id then it’s not possible to find the demat account number from Pan Card.
Demat Account Format
Your depository will send you a letter via email with a welcome message, crucial information about your demat account, and your account number.
Your account number will be mentioned as beneficiary owner ID or BO ID if you receive a letter from CDSL. In addition, the numbering format will differ depending on the depositories.
If your depository is CDSL, for example, your demat account number or BO ID will be a 16-digit numeric character like 4654732821390812. If you open a demat account with NSDL, your demat account number will be 16 digits long as well, but it will begin with the letter “IN” and look like this: IN56739822132790.
Difference between CDSL and NSDL
It’s necessary to know whether a company works with NSDL or CDSL before finalising your brokerage firm and opening a demat account or an internet trading account. It’s also essential to know the distinction between the two.
National Securities Depository Limited (NSDL) is a company that solely deals with securities that are traded on the National Stock Exchange (NSE). The Central Depository Securities Limited is affiliated with the Bombay Stock(BSE) Exchange and is known as CDSL .
NSDL Vs CDSL
| Base | NSDL | CDSL |
| Full form | National Securities Depository Limited | Central Depository Securities Limited |
| Founded Year | 1996 | 1999 |
| Head office | Mumbai | Mumbai |
| Major Promoters | IDBI Bank, UTI & NSE | SBI, HDFC Bank, Bank of Baroda, Bank of India, Standard Chartered Bank & BSE |
| Affiliated by | NSE | BSE |
| Total Demat accounts | 2,32,92,945 | 4,64,66,132 |
Demat Account Opening process
You must approach a SEBI-registered depository participant (DP), such as a brokerage business, bank, or other financial institution, to open a demat account. Before settling with a reputable broker, visit the CDSL and NSDL websites for a list of SEBI certified DPs. To open a demat account, simply follow these simple steps.
- Complete the account registration form.
- Provide documentation such as a PAN card, an Aadhar card, and a passport-sized photo.
- The entire process can be completed online, although the brokerage agency may contact you for verification.
Starting Trading
After opening the account, you are now ready to invest or trade in the securities market. A demat cum digital trading account is the ideal solution because it allows you to invest and trade in one place.
A demat account gives you access to a variety of investing opportunities and allows you to profit from market fluctuations in many asset types.
However, before finalising a broker, you need to conduct some due research and at the very least become aware with certain basic rules related with operating a demat account and trading in stocks.
Many brokers, such as Zerodha and Upstox, provide a free demat account. Click here to open a demat account.
Conclusion
After the stock market boom in 2021, most people are looking at the stock market as a suitable investment option. However, things like account numbers are easy to find, you just need to find them at the right place.
This is all from our side regarding Demat Account Number. Although, if you have any doubts about how to know demat account number using pan card, you can just comment below for clarification.
Other Interesting blogs:
Documents required for Demat Account
Difference Between Demat and Trading Account
FAQ About How to Check Demat Account With Pan?
How to find demat account number from PAN?
The best way to find your Demat Account Number from your Pan Card is to look for it in your registered email inbox as CDSL and NSDL both send welcome letters by email these days, you will get the email from your CDSL or NSDL that includes your Demat Account Number. If you don't have a registered email address, you won't be able to find your demat account number on your Pan Card.
CDSL demat account number?
The CDSL Demat account number is 16 digit numeric code without any alphabet. For example, a Demat account number given by CDSL will be 1253651246525465.
How to find demat account number in Upstox?
By signing into the Upstox Mobile app and selecting the menu icon in the top left-hand corner, you can obtain your Demat Account Number. When you click on your username, a 16-digit Demat account number will appear. If you're a web user, you may find this number by going to 'My account.'
How to find Demat account number in Groww app?
Groww Demat account number is a 16-digit number that combines the 8-digit Groww CDSL DP ID and the 8-digit Client ID. In Groww web or app, you may find your customer ID under the personal details option. Your Demat information can also be found in the client master report (CMR) that you got as part of the onboarding process.
How to find Demat Account number in Angel Broking?
Beneficiary Owner ID or BO ID is another name for the customer ID in a demat number. When you open an account, the demat account number is sent together with the welcome kit. You can also find your Demat Number by going to the 'My Profile' area of the Angel portal.
