Demat account, how to open demat account
| February 13
Today, a Demat account is as
essential as holding a bank account, as it gives you access to different
choices for investment. You can invest and trade in equities, derivatives,
currencies, stocks, mutual funds and more with a Demat account.
You will obtain a special 16-digit
account number known as the Demat account number when you open a Demat account
with a depository participant (DP), who is generally your broker. This unique
code allows you to invest in the financial markets and to trade. To trade in
various exchanges such as NSE, BSE and MCX, you need to link your Demat account
to an online trading account.
A welcome letter from the depository
(CDSL or NSDL) will be sent to the user after opening the Demat Account online,
which will contain all the account details, including the Account number. In
the case of CDSL, the Demat Account has a 16-digit numeric character, while the
Account number begins with "IN" in the case of NSDL, followed by a
14-digit numeric code.
At times account holders forget their
16-digit code, or misplace it. Here are some tips to recover Demat account
1 You can consider customer care
services as an option for recovering Demat account number. You can speak to the
customer care personnel and provide them necessary information such as Pan card
number to access your account number immediately.
2 When you open a Demat account
through the broker, you receive a kit which consists of information regarding
your account. You can easily recover your Demat account number from the kit.
3 Another option for recovering Demat
account number is to refer to the CAS report which is provided to the Demat
account holder every month through email. The account holder will need to enter
the pan card number and D.O.B in DDMMYYYY format without leaving any space to
access the number and recover the account number without any hassles.