One of the mandatory prerequisites for buying and selling shares through the stock market in India is a demat account. Without this account, it is currently not possible to engage in any form of stock or security trading. In fact, the Securities and Exchange Board of India (SEBI) has enforced the same as well via a notification.
So, if you wish to become a stock trader who actively participates in the stock market, then opening a demat account in your name should be your first priority. Once you’ve opened a demat account, you will be allotted a demat account number, which you need to safely store away for any future references.
If you’re just getting started with trading or investing in the markets, chances are that you may not be aware of your demat account number despite actively trading in the financial market. If that’s the case, then it is a good idea to first find out what your demat account number is, since this bit of information can be very useful. Wondering what the demat account number is, why it is significant, and how you can get to know what yours is? Read on to find out all these details.
To go ahead and better understand how you can get to know your demat account number, let’s first quickly run through the concept of a demat account.
A demat account is nothing but an electronic account that you can use to store all your securities such as shares, bonds, ETFs, and mutual fund units in the dematerialised form. Earlier, before the dematerialization of securities occurred, traders and investors used to store all of the securities mentioned above in the physical form, via paper certificates. As you can imagine, this was not only cumbersome, but was also prone to plenty of risks such as theft, mutilation, damage, and loss.
A demat account, however, eliminates all of the above risks and allows you to store all your securities in one place in a safe and secure manner. Since it is a fully digital account, it is protected via a combination of a user ID and a password, with the credentials known only to the owner of the account.
Imagine a bank account. When you open an account with a bank, you’re given a unique number known as a bank account number, is it not? And this number basically acts as the primary identifier for your account.
On a similar vein, a demat account number is also a unique number that’s given to you when you open your account. And it acts as an identifier for your demat account. So basically, the demat account number is the stock market equivalent of a bank account number.
The demat account number consists of 16 digits, with the first 8 digits being the identification number of the Depository Participant (DP ID) with whom you’ve opened your account. The remaining 8 digits make up the customer ID that is assigned to you by the Depository Participant. Put these together, and you have your demat account number!
The demat account number is by far the most important number that you should be aware of when you start trading in the markets. Since it acts as a unique identifier for your account, it is extremely crucial that you know what this number is.
Without your demat account number, you won’t be able to notify the concerned entities regarding any discrepancies or other mistakes that you notice in your account. Also, you would need to know what your demat account number is, in order to receive and transfer shares to and from your account when you trade in the markets. This is especially true in cases where you effect these transfers manually, outside the purview of the stock exchanges.
In India, there are two depositories that are currently operational, namely the National Securities Depository Limited (NSDL) and the Central Depository Services Limited (CDSL).
Depending on the stock broker through whom you have opened your demat account, you can either have it under the NDSL or the CDSL. And why does the depository matter? Well, that is because the format of your demat account number differs depending on the depository with whom you have your demat account.
With NSDL, the demat account number format starts with a prefix – ‘IN.’ This is followed by a 14-digit numeric character, making up 16-digits in total. For instance, this is how the demat account number of an account with NSDL may look like – IN11223344556677.
With CDSL, the demat account number format is a full string of 16 numeral characters, with no alphabet prefixes or suffixes. So, here’s how a demat account number of an account with CDSL may look like – 1122334455667788.
Now that you’re aware of what a demat account number is and the different formats that it can exist in, let’s take a look at how you can find out your unique account number. There are many ways in which this can be done. Here are all the details.
This is by far the easiest way through which you can find out your demat account number. When you open a demat account, you will receive a welcome letter from the depository at the address specified by you. This letter will contain all the details of your demat account, including your demat account number.
In some cases, you may not receive a physical welcome letter. Instead, you might receive one as an email. So, make sure to check the email address provided by you at the time of account creation for the welcome letter.
Your depository will periodically send demat account statements via email or through physical letters. These statements will contain all of the credit and debit transactions that you may have carried out during the specified period of time. In addition to the transactional information, the statement will also carry your demat account number, usually at the top of the page.
Alternatively, you can also view your demat account number by logging into your account using the user credentials given to you. In addition to the demat account number, you can gain access to a whole lot of other information as well through this method, such as the number and value of the assets in your account, the date of the transactions and the current market value of your securities.
At the time of opening a demat account, chances are that you’ve linked it with a trading account to facilitate easy and hassle-free stock trading. If that’s the case, then you can simply log into your trading account to view your demat account number. Since the trading account UI tends to be different from one stock broker to another, make sure to check thoroughly to spot your demat account number.
If all else fails, you can also try getting in touch with your stock broker or Depository Participant via email or through their customer support helpline to find out your demat account number. For instance, if you have opened a demat account with Tradesmart Online, you can contact our support team via a phone call or by writing an email to them. However, keep in mind that you may be asked to verify your identity by providing a few details to the customer support.
As you can see, your demat account number is one of the most important pieces of information that you should always be aware of. If you’re not aware of your demat account number already, you can always use any one of the above methods to quickly identify it.
If you don’t already have a demat account, you can quickly get one opened through Tradesmart Online along with a trading account. The account opening process is quick and hassle-free. Follow this link to get started.
There are as many as five different ways through which you can find your demat account number. Here’s a quick look.
If your demat account number is a 16-digit numeric code with no alphabetical prefixes, then your depository is most likely CDSL. Alternatively, if your demat account number consists of a prefix ‘IN’ followed by a 14-digit numeric code, your depository is most likely NSDL.
Yes, if you’ve linked your demat account with your trading account, you can quickly find out your account number by logging into your trading account.
Knowing your demat account can help you receive and send shares and securities to and from your account. Plus, in case you notice any discrepancies or errors in your account, you can notify the concerned entities using your demat account number as the identifier.
Yes, each demat account has its own unique demat account number. No two demat accounts have the same number.
Please note that by submitting the above mentioned details, you are authorizing TradeSmart to call and email you and also to send promotional communication even though the contact number may be registered under DND.
Please note that by submitting the above mentioned details, you are authorizing TradeSmart to call and email you and also to send promotional communication even though the contact number may be registered under DND.
Open Demat Account &
Trade @ Rs15 per order.
“Filing of complaints on SCORES – Easy & quick”
Please note that by submitting the above mentioned details, you are authorizing TradeSmart to call and email you and also to send promotional communication even though the contact number may be registered under DND.