How to find Demat account number?
Nowadays, many first-time investors and traders are entering the stock markets to invest and trade in stocks. But many of them are unaware of basic concepts related to stock markets. One of the first, an investor or trader needs to do is open a trading and Demat account with a broker (also known as a depository participant). Once your Demat account is open, you get a unique Demat account number. This article will outline the steps to find your Demat account number.
What is a Demat account number?
It is a unique identification number that an investor receives after opening a Demat account. Demat accounts with the National Securities Depository Limited (NSDL) start with IN followed by 14 digits. On the other hand, Demat accounts with the Central Depository Services Limited (CDSL) have 16 digits. For instance, a Demat account number with NSDL will look like IN01234567891011, while a Demat account number with CDSL will look like 1234567890123456.
Your Demat account number is a combination of the following two numbers:
a) DP ID
b) Client ID
What is DP ID?
A depository participant (or DP) refers to a broker or any other financial institution who is registered with a depository, viz. NSDL or CDSL. A DP acts as an intermediary between a trader and the depository. It enables investors to open a Demat account with a depository. The depository participant identification number (DP ID) is the number assigned to depository participants, such as banks and brokers, by depositories NSDL or CDSL. The first eight digits of your Demat account number is the DP ID. For example, if your Demat account number is 1234567890123456, your DP ID will be 12345678.
What is client ID?
Every investor who opens a Demat account with a DP is referred to as a client by the DP. Each client is given a unique client ID to identify their trades. The client ID is the last eight digits of the Demat account number. For example, if your Demat account number is 1234567890123456, your client ID will be 90123456.
How to find your Demat account number and DP ID?
Finding your Demat account number and DP ID is quite straight-forward. It can be usually found in your profile section on the online trading platform. On m.Stock, you can check your account number and DP ID using the following steps:
- Login to your account.
- Click on the 3 bars on the top left of the screen.
- Click/tap on your name on top of the pop-out menu (the profile page/screen will open).
- Scroll down on the page/screen to find the Demat account number.
The 16 digit number is the Demat account number. It is also referred to as the beneficiary owner ID number (BO ID). The depository participant (DP) name is mentioned next to the Demat account number.