Demat Account Number – How to Find and Use It
If you wish to invest in the securities market in India, you must have a trading account and demat account. Both accounts are critical to the mechanism of modern-day trading and delivery of market-linked assets. You can open a trading account and demat account online, and enjoy a seamless account opening process. In this article, we shall discuss
- How to open a demat account
- Steps to find your demat account no.
How To Open A Demat Account Online
A demat account is a digital vault that is designed for the seamless transfer of securities to and from your trading account as well as the safe storage of said securities. You can choose from various authorised depository participants and open a demat account online. Here are the steps you may follow.
- Select a registered depository participant.
- Assess and compare various demat account offerings on metrics such as demat account fees, features, etc.
- Fill the online demat account opening form on the selected DP’s website.
- Check the full list of demat account fees and other pertinent terms and conditions.
- Upload the required documents and submit the form.
- Wait for your demat account application to be processed.
What Is Meant By Demat Account No.
Once your demat account has been opened, you shall receive confirmation to that effect from the selected depository participant.
The aforementioned correspondence shall include your unique demat account no It is important to note this number since it shall be quoted in your transactions in the securities market.
Your demat account no. is a combination of two critical elements, namely, the DP ID and your client ID. While the DP ID is the unique number assigned to each depository participant in India, the client ID is a unique number assigned to each investor.
How To Find Your Demat Account No.
The process of finding your demat account no. is extremely simple. You can find this information through your bank account, demat account, and depository participant. Let us discuss the prominent ways to find your demat account no.
1. Through your demat account app
The easiest way to find your demat account no. is by accessing your DP’s demat account platform (website or mobile application). You can simply log in to the app, go to the profile section, and find your unique demat account no.
2. Through the communications received from your depository participant
All the correspondence that you receive from your depository participant shall quote your demat account no. From the welcome letter shared after the opening of your demat account to the periodic transaction and holding statements and the intimation of upcoming demat account fees, each email and message shall have your demat account no.
3. Through reaching out to your depository participant
In the rare event that you are unable to find your demat account no., you can reach out to your depository participant through an email or a call, and enquire your demat account number by quoting your Permanent Account Number and other relevant Know Your Customer details.
4. Through your bank’s Internet Banking Portal
Another way to check your demat account no. is by logging in to your bank’s Internet Banking platform. Since your demat account is linked to your bank account, you can find your demat account no. on the Internet Banking portal. To do so, you must look for the menu titled investment or portfolio.
The Bottomline
Knowing your demat account no. is important for various reasons. Not only is the demat account no. quoted on all your transactions in the securities market, but it is also a unique identifier to access your demat account.