How to Check My Demat Account Number

When you open a Demat account with a DP, you are assigned a unique number. This number is of the utmost importance when trading securities. These are simple steps you can follow to find your Demat account number. Your Demat account number will be mentioned on such documents. You can also open an online trading account to check the Demat account details or find it on the website of the depository participant. This article takes into consideration how to know my Demat account number in detail, essentially enabling you to address your query of “how to check my Demat account” in a step-by-step manner.

What is a Demat Account Number?

If you hold a Demat account, you must fill up the Demat account number in various IPO application forms. One question is how to find Demat account number and where exactly can you find this number.  The Demat account number typically comprises 16 characters. It is a combination of the DP ID and the client ID, so it automatically identifies your DP, too. SEBI has made it mandatory for every investor to have a Demat account range if they intend to deal with the market, even though it's for intraday buying and selling. You might use this Demat account range when you make IPO applications or while you deliver your Demat account a wide variety for direct credit score of debentures, gold bonds, and so forth.

So, what exactly is this Demat account number? Simply put, it combines the DP ID and the Customer ID, written as a single string.  The Demat account range process is different for NSDL and CDSL. For instance, the NSDL Demat account number is alphanumeric, while the CDSL Demat account range is completely numerical. In the sixteen-digit Demat account number, the primary 8 characters are the DP ID, and the last 8 characters constitute the consumer or customer ID (BO-ID). For example, if the NSDL ID is IN03434398765873, then IN034343 is the DP ID, while 98765873 is the Customer ID.

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Why Demat Account Number Matters?

The Demat account number is your investor identification in the trade market. Without a Demat account range, it would not be viable to buy and sell securities or invest in IPOs. The Demat account number is the key in your IPO programs, and the default Demat account is used to credit score shares within the occasion of purchase and debited within the event of sale. In a transactional mismatch, the Demat account number allows investors to seek redressal through the unique identity created by the 16-character Demat account number.

So where to get your Demat account number? Once you open a Demat account, CDSL or NSDL, affiliated with your broking organisation, sends a letter with your Demat account number. It is essential to know in case your Demat account is with CDSL or NSDL, as you will be required to understand the depository information while applying for an IPO. The Demat variety may be discovered inside the letter sent to you through the depository. 

However, you can also find it in your Demat transaction statement, Demat holding statement, brokerage contract note, and all communication received from the DP. Alternatively, you can even log into your Online Broking Plus Demat account to check your Demat account number details.

Alphanumeric Vs. Numeric Demat Account Numbers

Did you know about the two formats of the Demat account number viz. alphanumeric and numeric? The two formats of the Demat account number pertain to the two depository institutions; CDSL and NSDL. If the depository is CDSL, your Demat account number or (Beneficiary Owner) BO ID will be a 16-digit number like (3356327821290812). However, the BO ID for an NSDL Demat account will be a 16-character alphanumeric ID like (IN56732892132810). The common factor in CDSL and NSDL Demat account numbers is that the first 8 characters represent DP ID, and the last 8 characters represent client ID. The Demat account number combines these 2 strings.

It is tough to remember a 16-character Demat account number, so you must note it and keep it. However, for security reasons, it is advisable not to keep the number in a very public place. You can store a copy of your Demat statement or contract note in your mail or the cloud to easily access the Demat account number. You can always locate the details if you forget the Demat account number.

How to Open a Demat Account?

You need a Demat account to trade stocks in India. If you don't know much about investing, you need to get a Demat account.

The following is what you can do to open one:

Conclusion
Now we have understood how to know your Demat account number.  So you have a unique Demat account variety for easily keeping up with all investments, IPOs, securities, etc. Your Demat account number is your financial identity, so it is suggested that you always protect and memorise it.

You may also check out the stock market apps that help you monitor your portfolio, analyse marketplace trends, and make suitable selections. Check out the digital service and find out how to make the best use of your Demat account.