• HDFC securities
• 03 Jan 2023
• Open Demat Account

Opening a demat account is one of the most essential elements of investing in the stock market. A demat account stores financial securities in dematerialised or electronic form. These securities include stocks, bonds, commodities, exchange-traded funds (ETFs), etc, which are traded in the secondary markets. For a share market investor, knowing his Demat Account Number is very important.

In this blog, we will know about the demat account number and how to find demat account number from PAN.

When an investor opens a demat account, he gets his own unique 16-digit account number from the Depository Participant (DP). The format of this Demat Account Number depends upon the depository, the Central Depository Services Ltd (CDSL) and National Securities Depository Ltd (NSDL). These two are the registered depositories in India.

If you hold the demat account with CDSL, it will have a 16-digit numeric character. This number is also called Beneficiary Owner ID or BO ID.

In the case of demat account with NSDL, the Demat account number will begin with “IN” followed by a 14-digit numeric code.

When you open a demat account online, the depository (NSDL or CDSL) will send you a welcome letter which contains all the details and information of the demat account, including Demat account number.

To open a demat account online, you require certain documents, among which the PAN Card is of utmost importance. PAN or the Permanent Account Number is a unique identification number assigned by the Income Tax Department to every tax-paying entity in India.

For a full-fledged broker, you can open a demat account with HDFC Securities, and for discount broking, you can choose to Open Demat Account with HDFC SKY.

Let us understand step-by-step how to find the demat account number from PAN.

- Firstly, you need to fill in the application form with all the required details at your Depository Participant’s (DP) online portal.

- Complete the KYC details, including the PAN Card, identity proof and address proof, and upload them with the application form.

- The next step is on the broker’s front. He has to perform the due diligence process.

- After this process is over, you have to verify the digital details such as the email ID and phone number via a two-factor authentication process.

 - On completing the digital methods, the next step is to verify bank account details and ECS payment methods.

- After completing all the above steps, you will receive a welcome mail on your registered email ID that will confirm all the processes.

- All the processes are finished here. You will receive encrypted emails on your registered email ID at regular intervals which will include the demat account details, transaction history, account statement, etc. Each email will be associated with a PAN as an identifier for the demat account.

Now, to find your demat account number from PAN, you just need to search your PAN in the email inbox. You can also search for the email from NSDL or CDSL which contains your demat account number and other details.  

 

How to know Demat account number by Bank Account?

It is mandatory to link your demat account with the bank account. When you sell shares that are in your demat account, the proceeds are deposited in the bank account which is linked to your demat account. Similarly, when you purchase shares, the money gets deducted from the linked bank account and the shares are deposited in the demat account.

Hence, when the demat account is linked with the bank account, you can easily find out your demat account details via internet banking facilities offered by the bank.

In conclusion, an active demat account is very important to trade and invest in the stock market. You can access the account details such as the demat account number and statements by following the above-mentioned easy steps.