Every Demat Account has its own unique 16 digit account number which is assigned by the Depository Participant, or the DP, to the Demat Account holder. This is known as the Demat Account number. Upon opening the Demat Account online, a welcome letter from the depository (CDSL or NSDL) will be sent to the user which will contain all the account information including your Demat Account number. The Demat Account number is also known as Beneficiary Owner ID or BO ID in the case of the CDSL.
The format of the Demat Account varies based on the CDSL or the NSDL. The Demat Account has a 16-digit numeric character in case of CDSL, whereas in case of NSDL, the Demat Account number starts with “IN” followed by a 14-digit numeric code. An example of a Demat Account number is CDSL can be 01234567890987654 where an instance of a Demat Account number is NSDL can be IN01234567890987.
What is a Depository Participant?
Depository Participants (DP) can be referred to as an Agent of the Depository. Depository Participants are usually brokerage firms, financial institutions, and banks who work as a bridge between the investors and the stock exchanges. The relation of the depository and the Depository Participant is governed by provisions of the Depositories Act, 1996.
What is a DP ID and How is it Different from a Demat Account Number?
Your Demat Account number and DP ID (Depository Participant Identification) is not the same and also has nothing to do with the Demat Account holder. DP ID is a number allocated to the Depository Participant such as a broking firm, bank or financial institutions by the CDSL and NSDL.
A Demat Account number is a combination of the DP ID and the customer ID of the Demat Account holder. Usually, the first 8-digits of your Demat Account number is your DP ID where the last 8-digits of your Demat Account number is the customer ID of the account holder.
For example, if a Demat Account holder is wondering how to find my Demat Account number, they can conduct a simple exercise. For CDSL, if your Demat Account number is 0101010102020202, in such a case 01010101 is the DP ID and 0202020202 is the Demat Account holder’s customer ID. Similarly, for NSDL, if a Demat Account number is IN12345698765432, in that case, IN123456 is the DP ID and 98765432 is the customer ID of the Demat Account holder.
Things You May Also Like to Know
How can I check my DEMAT account online?
Nowadays, all your DEMAT account details are available online. If you have opened a new DEMAT account, you’ll receive a welcome letter from your broking house. It will contain details like your account number, customer ID, and login credentials. Log in to your account using username and password provided, and you can see all the details under the account dashboard section.
As per the new guidelines issued by SEBI, you need to convert all your physical shares into digital. With Angel Broking, you can open a DEMAT account for free in 5-minutes.
How can I know my DEMAT account number by PAN number?
PAN number is a unique number issued by the Indian Income Tax Department and a valid KYC document. You need to give your PAN details while opening a DEMAT account and it will be linked to it. In case, you can’t find the DEMAT information you can request the broker for account detail-recovery by confirming your PAN details.
How can I know my DEMAT account details?
Once your DEMAT account is open, the Depository Participant will assign you a 16-digits account number. You’ll receive a welcome letter from the depository (CDSL or NSDL) in your e-mail id containing all your details.
Is client ID and DEMAT account number Same?
Your DEMAT account number contains 16 digits, a combination of DP ID of the broker and the client ID of the user.
Your Client ID is a unique 8-digit number assigned to you by your broking house, generated in-house, to help them identify each of their clients efficiently. It will help them tie all their service to each client and manage your investment history.
What is full form of CDSL?
CDSL stands for Central Depository Services (India) Ltd.
It is the second central depository of securities, after NSDL. It is created to hold securities, both certified and uncertified, to help with book entry.
Is CDSL a government?
It is promoted by BSE and registered under Government of India. It came into being under SEBI’s guidelines in 1999.