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Investing in securities and commodities is something any responsible citizen should do. However, as per the Depositary Act of 1996, investing or even trading securities requires you to have a Demat account. A Demat account is where your securities are held in dematerialised (electronic) form. 

 

With technological advancements, opening a Demat account has become easier and something you can complete in just a few minutes. This process is fairly simple, thanks to digitisation, as is knowing key details about the account. 

 

Knowing your Demat account number is crucial, as you may need to mention it in some cases. Read on to know how you can know your Demat account number.

How to Know Your Demat Account Number?

Knowing your account details, such as DP, account number, etc., is just as simple and easy as logging in to your Demat account. 

 

Listed below are some of the ways you can know your Demat account number:

 

  • App/ Website

You open a Demat account with a Depository Participant (DP) that is licensed either by NSDL or CDSL or both. As such, you can know your Demat account number by visiting the website or opening the app of your DP. Login to your account and visit the account/ profile section to know your account details.

 

  • Account Statement

Just like your other bank account, your Demat account also has an account statement. This statement contains information not just about the transaction through your Demat account but also the account details, including your Demat account number.

 

You can get your account statement by visiting your account with the DP or by visiting the website of the Central Depositary (NSDL or CDSL) associated with your DP. 

 

  • Welcome Communication 

When you open a Demat account, you generally receive a welcome communication from the DP. This communication contains your Demat account number and other details. You can check your email or SMS to find this communication. In some cases, you may even receive a physical letter after you open the Demat account.

 

  • Income Tax Portal

It is mandatory to link your PAN card to your Demat account. As such, you can visit the Income Tax Portal and log in to your account. After logging in, you can visit the “My Profile” section and navigate to the My Demat Account tab. Under this tab, you can view the Demat accounts you have added and their account details.

 

Apart from the above-mentioned ways of knowing your Demat account number, you can also contact your DP to get the information. You can contact your DP through email, call, or by visiting the branch. You can find the details on your DP’s contact information by visiting their website.

How is Demat Account Number Assigned?

Your Demat account details include a lot of different information and not just your account number. This can make it difficult for you to know your account number if it isn’t mentioned explicitly. However, if you know how your account number is assigned, you can quickly identify it.

 

An important point to know about your Demat account number is that it is a 16-character number made up of your customer ID and your DP ID or account number. The first 8 characters are for the DP ID, and the last 8 characters are for the customer ID. Customer ID is unique for each investor and assigned by the DP. Whereas the Central Depositary (NSDL or CDSL) assigns the DP ID. Meaning your account number depends on who the DP is licensed by.

 

If your DP is licenced by the NSDL, the DP ID will be 8-character alpha-numeric, and the first two characters will be IN. In this case, your account number will be identified as an NSDL Demat account number.

 

However, if the DP is licenced by CDSL, the DP ID will be an 8-digit numeric ID. Here, your account number will be identified as a CDSL Demat account number. This distinction between the DP ID also allows you to know whether NSDL or CDSL is the Central Depositary associated with your Demat account.

Why is Demat Account Necessary?

A Demat account is necessary because of the Depository Act 1996. Under this, it is mandatory for companies to issue securities in electronic, i.e., dematerialised form only. These dematerialised securities get stored in your Demat account, making it a crucial part of investing or trading in securities. Apart from this, a Demat account is necessary because it helps reduce the risk of loss due to theft, damage, forgery, etc. Through this account, you also enjoy easy and quick trading/ investing while ensuring security.

 

Moreover, opening and managing a Demat account is easy and requires minimal information from your end. In fact, with this account, you can trade from anywhere, something that is not possible with physical certificates.

 

Since having a Demat account is mandatory, many licensed stockbrokers or financial institutions offer instant Demat account services. Through this, you can open your Demat account just before you start investing or trading in securities. Among the many institutions offering this service is Bajaj Markets.

On the platform, you can open your account in just a few steps with minimal information and at no cost. You can check your account details, such as your Demat account number, by logging in at the portal and visiting your profile.

FAQs on Demat Account Number

Is the Demat account number different from DP ID?

Yes, DP ID is the ID number for the DP associated with your Demat account. Whereas the Demat account number is a combination of your customer ID and the DP ID.

When is a Demat account number assigned?

Your Demat account number will be assigned as soon as you open your account. You will receive a mail/ letter with your account details, including ID for the DP, account number, etc., once you open your account.

Can I use my PAN number to know the Demat account number?

Yes, linking your PAN with your Demat account is mandatory. As such, you can find the account number through your PAN by visiting the Income Tax Department website.

How can I know the Central Depositary for my Demat account?

Demat account number comprises your customer ID and DP ID. Meaning you can know the Central Depositary through this number. The first 8 characters are for the DP ID and it can be numeric or alpha-numeric based on whether the Central Depository is CDSL or NSDL.

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