In the world of securities trading, having a Demat account is not just a choice but a necessity. Whether you're delving into stocks, commodities, currency, derivatives, or mutual funds, a Demat account ensures seamless transactions. This article aims to elucidate the intricacies of Demat accounts, specifically focusing on what a Demat account number is, the distinction between a Demat account number and a DP ID, and a step-by-step guide on finding this information on Angel One.
Demat Account Number Decoded
What is a Demat Account Number?
A Demat account number, often referred to as a Demat ID, is a unique 16-digit identifier crucial for any account holder. The format may differ based on whether the account is with CDSL or NSDL. In CDSL, it consists of 16 numeric characters, while in NSDL, it starts with "IN" followed by a 14-digit numeric code. For instance, a CDSL Demat account number could look like 01234567890987654, whereas an NSDL account might be IN01234567890987.
Unveiling the DP ID Mystery
What is a DP ID, and How Does it Differ?
Contrary to common misconception, a DP ID is not synonymous with a Demat account number. A DP ID is a distinct number assigned to the Depository Participant by the Depository – either CDSL or NSDL. The Demat account number, on the other hand, is a fusion of the DP ID and the Beneficiary Owner (BO) ID of the account holder. The first 8 digits usually represent the DP ID, while the last 8 digits form the BO ID.
Unlocking Your Demat Account Information on Angel One
How To Find the Demat Account Number and DP ID on Angel One
For Angel One users, discovering your Demat account number is a straightforward process, involving three simple steps:
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Launch the Angel One App
- Open the app on your device.
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Navigate to the 'Account' Section
- Head to the 'Account' section within the app.
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Access Your Profile
- Click on your profile located in the top right corner of the screen.
And there it is, your Demat account number displayed just below your Customer ID. Remember, the first 8 digits of your Demat ID constitute the DP ID.
Frequently Asked Questions
Are the Demat Account Number and DP ID the Same? No, they are not. While the Demat account number is a 16-digit unique identifier for the account holder, the DP ID is an 8-digit number assigned to the Depository Participant by the Depository.
Are the Demat ID and Demat Account Number the Same? Yes, they are one and the same.
How to Find the BO ID and DP ID on Angel One? Follow these steps:
- Launch the Angel One app.
- Navigate to the 'Account' section.
- Click on your profile in the top right corner of the screen.
- Your Demat account number, including DP ID, will be below your Customer ID.
For a seamless trading experience, consider opening a Demat account with Angel One. Enjoy benefits like free equity delivery for a lifetime, a flat brokerage of Rs. 20 on intraday, F&O, currency, and commodity trades, along with zero account maintenance charges for the first year. Your secure financial future is just a step away – take it today!
