If you’re only just getting started with trading, you have probably opened a demat account with a depository participant (DP). At the outset, you may start off by trading in a few stocks alone. But as you grow in experience, you may perhaps expand the scope of your trading to include multiple securities. You may also want to keep track of all your holdings without relying entirely on your stockbrokers.
With the entire process of trading in securities having become quick and effective, this is only understandable. Customers and traders like you are increasingly becoming interested in faster and more real-time updates about the demat accounts held with depositories.
If you have a CDSL demat account, this is now possible with CDSL easi, which helps traders and account holders with CDSL demat accounts keep an eye on their holdings. If you’re wondering what the procedure to do this is, and if you’re curious to know more about using CDSL easi, like the details of the CDSL demat account login and the CDSL demat account charges, here are 6 things you should know about a CDSL demat account.
CDSL demat accounts have a unique number format
India has two major depositories – the National Securities Depository Limited (NSDL) and the Central Depository Services Limited (CDSL). Now, when you approach a depository participant to open a demat account on your behalf, they generally open the account with either the CDSL or the NSDL, depending on which depository they have partnered with.
An easy way to identify the depository that your demat account is opened with is to look at the number on your account. CDSL demat accounts have a unique 16-digit combination of numbers. NSDL accounts, on the other hand, have an alphanumeric combination that begins with the letters ‘IN’ followed by a 14-digit number.
CDSL easi is a convenient internet-based platform for CDSL demat account holders
CDSL easi, an acronym for ‘electronic access to securities information,’ has been introduced by the national depository itself in a bid to help demat account holders manage their securities and their holdings from anywhere, at any time. With state-of-the-art security, this internet-based facility from CDSL makes it possible for registered account holders as well as clearing members to access their CDSL demat accounts and check the details of their transactions and their holdings through the CDSL website itself.
On the easi portal, CDSL demat account logins and registrations are quite straightforward
If you’re curious about how the CDSL demat account login works, you first need to register yourself on the CDSL easi platform. Here’s a quick step-by-step guide to help you complete the registration process, so you can then use the CDSL demat account login details to conveniently access all your account-related information from one place.
– Visit the CDSL website at https://www.cdslindia.com
– Click the ‘login’ option at the top right corner of the home page.
– In the pop-up box that appears, select the first option – New System Myeasi (BO/CM/DP/Issuer/DDP).
– Then, click the ‘login’ button below. You will be taken to a new page, where another pop-up box appears. Select the option that says – ‘To Register for Easi! Click Here.’
– Once that is done, you will need to fill in essential details like your BO ID (which is your 16-digit demat account number) and your password in the specified format.
– Upon providing all the details necessary, your registration process shall be complete.
– You can then use your CDSL demat account login credentials to successfully log into the portal.
There are no CDSL demat account charges levied by the depository
When you open a CDSL demat account with the depository, you do it through a depository participant (DP). So, as such, there are no CDSL demat account charges that are levied directly by the depository. And that’s not all. You can also make use of the CDSL easi portal free of cost.
CDSL demat account holders also experience a host of other benefits on the easi portal
If you are a CDSL demat account holder, you can use the electronic platform to perform a variety of functions such as:
– Checking and printing the details of your holdings and/or transactions for the last 7 days
– Checking and printing the details of the valuation of the holdings in your demat account (based on the closing price of the previous day on BSE)
– Checking and keeping track of multiple demat accounts through a single common login ID
You can monitor corporate announcements related to the holdings in your CDSL demat account through the easi portal
With your CDSL demat account login, you can check if there are any corporate announcements pertaining to the shares and securities you hold. What’s more, you can even add up to 25 ISINs (International Securities Identification Numbers) for securities that you do not currently hold, so you can monitor corporate announcements related to those assets as well.
All in all, with a demat account that’s opened with CDSL, you get to enjoy many benefits, most of which are free of cost. The CDSL easi portal is one such key advantage. Opening a demat account with the national depository is also quite easy, because CDSL has an extensive network of DPs spread across the length and breadth of the country. You just need to approach a DP to open your CDSL demat account.