How do I check my Demat account online?
In its most
basic form, a demat account is a bank account/wallet for securities. If a
person wants to buy securities like stocks and bonds, they must first open a
demat account in their name, which allows them to store their holdings in a
dematerialized or digital format. The holders of bank accounts can view their
bank statements on a paper passbook or online. A demat account performs the
same job. It displays a person's demat account's transaction history, allowing
them to keep track of transactions and check that they have received any shares
for which they have bought.
Any shares
purchased by investors in India are maintained in two types of accounts that
function as electronic depositories.
National
Securities Depository Limited (NSDL)
Central
Depository Service Limited (CDSL)
Consolidated Account Statement.
When trying
to understand a demat account statement, this document is the most important
part of the procedure. A consolidated account statement, often known as a CAS,
is a single document that covers all transactional and investment information
for mutual fund investments and depository accounts. It is, in fact, a
collection of all investments and transactions done through these channels. Investors
can use the CAS to comprehend their statement of demat account and to
learn how to check their demat account balances and statements. It also offers
complete documentation of any holdings the investor may have, as well as a
consolidated view of all holdings. It also allows investors to view statements
across demat accounts regardless of the broker because it is accessed using the
NSDL and CDSL.
How can you access your demat account details?
All
investors can now check their CAS online using the CDSL website by following
the steps below:
1. Go to
cdslindia.com to access the CDSL website.
2. Select
'Login' from the 'Quick Links' button on the homepage and log in to - CAS.
3. Next,
type in your PAN number.
4. Next,
type in your Demat Account Number.
5. Fill in
any other requested information, such as your date of birth and the captcha
requirements.
6. Submit
your request
7. An OTP
will be sent to your registered mobile number, which you can use to verify your
login.
Takeaway
If you're a
serious investor, you're probably always seeking for new methods to diversify
your holdings. However, with a variety of depository participants to meet all
types of investor appetites, investors can now diversify not just their assets,
but also their investment medium. While it is unusual for a depository
participant to close its doors abruptly, your shares will be safe even if they
do, you may want to open demat accounts with many DPs to take advantage of the
varied rates and services they provide.