Demat Account Number
What is a DP ID?
Demat account number is a unique 16-digit account number assigned by the Depository Participant to the demat account holder to carry out trading through electronic mode. As and when the demat account gets opened of any investor, and they are provided with account information including the demat account number. Demat account number is also known as Beneficiary ID in case of CDSL. If you wish to do trading in any products then demat account number is very important. Each account has a unique code, not by the name of the holder but a number referred to as demat account number.
How to know your demat account number?
The question usually arises, how to find a demat account number? The moment the demat account gets opened the demat account number is assigned to the investors. The number is assigned by the Depositories which are NSDL (National Securities Depository Ltd.) and CDSL (Central Depository Services Ltd). Depending upon the needs and services, the investor has to select any one of the DPs and get registered with them. The format of demat account typically varies based on CDSL and NSDL depending on the one who assigns the particular demat account number. The code assigned by CDSL is a 16 digit numeric character, whereas in case of NSDL it starts with “IN” followed by a 14 digit numeric code. For example, the demat account number in CDSL can be 01234567890967664 whereas for instance the demat account number in NSDL can be IN1234566870987. In share trading all the trades taking place across the world have their number through which trading is carried out.
A depository participant is basically an intermediary. There are two types of people, one who are investors and others who are depositories. The demat account will not be verified without a DP resulting in no trading of shares. Any broking firm registered with SEBI can act as a depository participant.
Let us see how DP ID differ from demat account number? Let us not get confused about DP ID and demat account number. There is no similarity in between them, the demat account number is a number allotted to the investor when the demat account is opened whereas the DP ID is an identification number meant for the DP. For instance let us see the relation between DP ID and demat account number. Demat Account Number= DP ID+ Client ID The Client ID is the ID which identifies the investor’s portfolio.
- In the case of CDSL, your demat account number is 1234567891234567, then:
- DP ID is 12345678
- Client ID is 91234567
In case of NSDL, your demat account number is IN34567891234567, then:
- DP ID is IN345678
- Client ID is 91234567
The Client ID remains the same as long as you maintain your demat account with the same demat service provider.
These days it is way easier to open a demat account online without any hassles within 15 minutes.